Hallador Energy Co (HNRG)
Hallador Energy Co brought in $435.9M of revenue over the twelve months to September 30, 2026, down 5.4% from a year earlier. It posted a net loss of $29.3M. Operating cash flow minus capital spending left $11.9M of free cash flow in fiscal 2025. At September 30, 2026 it held $103.2M in cash against $526M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 9, 2026.
Key facts about Hallador Energy Co
- Net worth
- Hallador Energy Co has a market value (market cap) of $499.2M at the latest share price, and shareholders' equity of $187M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $469.5M (+16.2% year on year), with net income of $41.9M. Over the 12 months to September 30, 2026: revenue $435.9M, net loss $29.3M.
- Cash flow
- In fiscal 2025 operations brought in $81.1M of cash; after $69.2M of capital spending, free cash flow was $11.9M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 9, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Hallador Energy Co's next report is expected around March 11, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Hallador Energy Co does
Hallador Energy Co is registered with the SEC under industry code SIC 4911 (Electric Services). Its shares trade on NASDAQ under the ticker HNRG.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $469.5M | $41.9M | $0.96 | $11.9M |
| 2024 | $404.2M | -$226.1M | -$5.72 | $12.6M |
| 2023 | $634.9M | $44.8M | $1.25 | -$15.9M |
| 2022 | $362M | $18.1M | $0.55 | $149K |
| 2021 | $247.7M | -$3.8M | -$0.12 | $19.9M |
| 2020 | $244.2M | -$6.2M | -$0.20 | $31.9M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where HNRG ranks in Utilities
Dividends
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2021 | n/a | $0 | n/a |
| 2020 | n/a | $1.2M | n/a |
| 2019 | n/a | $5M | n/a |
| 2018 | n/a | $4.9M | 65% |
| 2017 | n/a | $4.9M | 15% |
| 2016 | n/a | $4.8M | 38% |
Latest SEC filings
What Hallador Energy Co has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 9, 2026Quarterly report 10-Q · period to September 30, 2026Revenue fell 11% to $130.3M versus the same quarter last year; diluted EPS -$0.10 versus $0.55.
- November 9, 2026
- October 8, 2026Material agreement8-KHallador Power signed six-year power and capacity agreements with Duke Energy Indiana running from 2029 through 2035.
- September 17, 2026Material agreement8-KHallador Energy secured a credit agreement for a $600 million term loan facility and up to $75 million in revolving credit to fund its Turtle Creek Gas project.
- August 14, 2026
- August 11, 2026Passive stake changed SCHEDULE 13G/A
- August 10, 2026Quarterly report 10-Q · period to June 30, 2026Revenue fell 1.3% to $101.5M versus the same quarter last year; diluted EPS -$0.32 versus $0.19.
- August 10, 2026
- July 28, 2026Passive stake (5% or more) SCHEDULE 13G
- June 26, 2026
What is HNRG worth? A DCF from its reported cash flow
Insider trades
What the people running Hallador Energy Co did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| July 14, 2026 | Sugg Barbara AnnDirector | Bought | 3,700 | $63.4K |
| July 14, 2026 | Sugg Barbara AnnDirector | Bought | 1,300 | $22.3K |
| July 9, 2026 | Hudson Daniel TimothyDirector | Bought | 2,500 | $41.5K |
| July 9, 2026 | Hudson Daniel TimothyDirector | Bought | 2,500 | $41.4K |
| June 29, 2026 | Hudson Daniel TimothyDirector | Bought | 5,000 | $84.5K |
| June 29, 2026 | Hudson Daniel TimothyDirector | Bought | 5,000 | $84.9K |
| June 25, 2026 | Hudson Daniel TimothyDirector | Bought | 2,000 | $35.4K |
| June 24, 2026 | Hudson Daniel TimothyDirector | Bought | 3,000 | $51.1K |
Who owns HNRG
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| David J. Lubar13D, may seek influence with 4 related filers | 12.8% | September 3, 2024 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 172 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Lubar & Co., Inc | 5,452,019 | 0 |
| BlackRock, Inc. | 2,851,856 | +457,110 |
| Point72 Asset Management, L.P. | 2,121,228 | +219,974 |
| Aegis Financial Corp | 1,812,026 | -2,000 |
| Orbis Allan Gray Ltd | 1,695,845 | -63,966 |
| Vanguard Capital Management LLC | 1,531,550 | +45,721 |
| American Century Companies Inc | 1,518,138 | +135,011 |
| Dimensional Fund Advisors LP | 1,043,820 | +20,837 |
| Geode Capital Management, LLC | 980,431 | -10,309 |
| Highland Peak Capital, LLC | 947,219 | new |
| Dayah Capital LLC | 887,236 | +238,936 |
| State Street Corp | 780,330 | +71,032 |
| Deutsche Bank AG\ | 778,244 | +67,248 |
| Morgan Stanley | 758,982 | +352,594 |
| Tyro Capital Management LLC | 735,471 | new |
| Garnet Equity Capital Holdings, Inc. | 633,895 | +201,421 |
| Fmr LLC | 616,268 | -27,850 |
| Vanguard Portfolio Management LLC | 485,567 | -286,619 |
| Goldman Sachs Group Inc | 478,277 | +124,508 |
| Susquehanna International Group, Llp | 417,786 | +125,473 |
Insiders
9 insiders reported holding 1,882,598 shares in total, about $19.9M at the last price.
| Holder | Shares |
|---|---|
| Bilsland Brent KPresident and CEO, Director | 1,146,495 |
| Wesley Charles Ray IVDirector | 432,331338,469 held indirectly |
| Lovell Heath AaronChief Operating Officer | 170,816 |
| Gray Zarrell ThomasDirector | 76,480 |
| Hardie David CDirector | 23,016 |
| Hudson Daniel TimothyDirector | 20,000 |
| Telesz Todd EChief Financial Officer | 5,609 |
| Sugg Barbara AnnDirector | 5,000 |
| Lubar David JDirector, 10% owner | 2,851 |
Questions about HNRG
What does Hallador Energy Co do?
Hallador Energy Co is a company in the Utilities sector, listed on NASDAQ as HNRG. Its shares trade on NASDAQ under the ticker HNRG.
What is Hallador Energy Co's net worth?
Hallador Energy Co has a market value (market cap) of $499.2M at the latest share price, and shareholders' equity of $187M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Hallador Energy Co profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $29.3M on revenue of $435.9M.
How much revenue does Hallador Energy Co make?
Over the twelve months to September 30, 2026 Hallador Energy Co reported revenue of $435.9M. That is 5.4% less than a year earlier.
When did Hallador Energy Co last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 9, 2026. It covers the period to September 30, 2026.
When is Hallador Energy Co's next earnings report?
Hallador Energy Co's next report is expected around March 11, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Hallador Energy Co tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.