Hallador Energy Co 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the quarterly period ended March31,2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 Registrant’s telephone number, including area code: 812.299.2800 Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of RegulationsS-T (§ 232.405 of this chapter) during the preceding 12months (or forsuch shorter period that the registrant was required to submit such files). Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Accelerated filer☑Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☑ As of May 4, 2026, we had 47,130,392shares of common stock outstanding. TABLE OF CONTENTS PART I - FINANCIAL INFORMATION1ITEM 1. FINANCIAL STATEMENTS (Unaudited)1Condensed Consolidated Balance Sheets1Condensed Consolidated Statements of Operations2Condensed Consolidated Statements of Cash Flows3Condensed Consolidated Statements of Stockholders’ Equity4Notes to Condensed Consolidated Financial Statements5ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS19ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK30ITEM 4. CONTROLS AND PROCEDURES32PART II - OTHER INFORMATION32ITEM 1. LEGAL PROCEEDINGS32ITEM 1A. RISK FACTORS32ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS32ITEM 3. DEFAULTS UPON SENIOR SECURITIES32ITEM 4. MINE SAFETY DISCLOSURES32ITEM 5. OTHER INFORMATION33ITEM 6. EXHIBITS33SIGNATURES34 PARTI- FINANCIAL INFORMATIONITEM1. FINANCIAL STATEMENTS Hallador Energy CompanyCondensed Consolidated Balance Sheets(in thousands, except per share data)(unaudited) Cash and cash equivalents$36,778$10,070Restricted cash6,5855,302Accounts receivable9,15213,989Inventory47,16442,534Parts and supplies47,89345,854Prepaid expenses1,6045,638Other current assets1,927—Total current assets151,103123,387Property, plant and equipment: LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities: Accounts payable$19,818$12,594Accrued liabilities and other35,07829,254Current portion of lease financing4,9817,411Contract liabilities - current130,170103,343Total current liabilities190,047152,602Long-term liabilities: Bank debt, net—29,678Long-term lease financing6171,338Deferred income taxes1,3291,833Asset retirement obligations15,64915,241Contract liabilities - long-term32,14845,714Other3,2681,814Total long-term liabilities53,01195,618Total liabilities243,058248,220Commitments and contingencies (Note 14) Hallador Energy CompanyCondensed Consolidated Statements of Operations(in thousands, except per share data)(unaudited) Three Months Ended March31,20262025SALES AND OPERATING REVENUES:Electric sales$65,096$85,943Coal sales35,08030,185Other revenues1,6311,596Total sales and operating revenues101,807117,724EXPENSES:Fuel14,96315,210Other operating and maintenance costs29,15628,389Cost of purchased power14,8636,840Utilities3,3334,152Labor27,38827,029Depreciation, depletion and amortization10,60614,977Asset retirement obligations accretion408427Exploration costs8421General and administrative6,8586,825Gain on disposal or abandonment of assets, net(201)(21)Total operating expenses107,458103,849 Interest income14763Interest expense (1)(3,970)(3,723)Loss on extinguishment of debt(230)—Equity method investment (loss)(121)(236)NET INCOME (LOSS) BEFORE INCOME TAXES(9,825)9,979 Hallador Energy CompanyCondensed Consolidated Statements of Cash Flows(in thousands)(unaudited) Hallador Energy CompanyCondensed Consolidated Statements of Stockholders’ Equity(in thousands)(unaudited) Hallador Energy CompanyNotesto Condensed Consolidated Financial Statements(unaudited) (1)BASIS OF PRESENTATION Hallador Energy Company (“Hallador” or the “Company”) is a vertically-integrated, independent powerproducer