Hallador Energy Co. reported net income for the first nine months of 2023 and Q3 2023 of $55 million and $16.1 million. “High coal sales prices coupled with large coal shipment volumes led to record coal revenue,” said Brent Bilsland, president and CEO, Hallador. “Our well-contracted sales book supported our revenue growth despite operational challenges increasing our cost per ton during the quarter. On the Hallador Power side, our sales team performed well, securing $325 million in energy and capacity sales at excellent prices for the 2024-2028 timeframe, creating a profitable foundation for many years to come.”
Year to date, Hallador has sold 4.7 million tons through the end of September, and it expects to sell another 2.4 million tons in Q4 2023. The company anticipates coal sales of 6.3 million tons in 2024, 90% of which is already contracted. Hallador purchased the Menom Generating Sation and it consumes 2.9 million tons per year.
