Hallador Energy Rallies On Reporting Profit For Full Year

(RTTNews) - Shares of Hallador Energy Company (HNRG) are rising ore than 12% Friday morning after reporting profit for the full year, compared with loss in the previous year, on growth in revenue.

Hallador Energy reported net income of $18.1 million, $0.57 per share for the full year, compared with a loss of $3.75 million last year.

Revenue for the year increased to $361.99 million from $247.67 million a year ago.

Brent Bilsland, President and Chief Executive Officer, commented, "We were successful in signing 2.2 million tons of new coal sales contracts at an average price of approximately $125 per ton in the summer of 2022, of which a small percentage of deliveries were completed in 2022 and will continue through 2025, with the majority contracted to be delivered in 2023."

HNRG is at $8.43 currently. It has traded in the range of $3.30-$11.57 in the last 1 year.