Credit and interest ratesmixed · 2 filings
“3 — Interest Expense (2.63) (1.11) Income before Income Taxes $ (4.51) $ 12.36 (1) Other operating costs primarily include costs for lime dust.”10-Q · May 6, 2026 ↗
Hallador Energy Company
HNRG
Market read
Hallador Energy Company's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 29 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.
Company-1.4% todayVolume comparison unavailable
Market group0 of 29 activeNuclear and Rare Materials · unavailable
Disclosed network0 of 7 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- HNRG's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if HNRG's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 29 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- HNRG's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements39
Verified relationships5
Evidence supporting the case
- Latest annual revenue changed +16.2% year over year.
- Operating margin changed +67.0 percentage points in the latest annual period.
- Net margin changed +64.9 percentage points in the latest annual period.
- Operating cash flow covered net income at 1.94x in the latest annual period.
Evidence challenging the case
- Diluted shares increased 9.9% in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 10, 2026
15.576m-14.4%12m-4.5%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$247.7M+2.3%$-0.12—
2022-12-31$362.0M+46.2%$0.55+9.9%
2023-12-31$634.9M+75.4%$1.25+9.4%
2024-12-31$404.2M-36.3%$-5.72+7.3%
2025-12-31$469.5M+16.2%$0.96+9.9%
What management says matters
Persistent and emerging business drivers
Energy and commodity pricesmixed · 2 filings
“Total fuel costs were impacted by an increase in the cost of coal consumed from $53.80 per ton in 2025 to $54.58 per ton in 2026.”10-Q · May 6, 2026 ↗
Demand and volumenegative · 1 filings
“The decreased sales were driven by lower coal demand from Merom due to the aforementioned equipment issues.”10-Q · May 6, 2026 ↗
Legal and regulatory exposurenegative · 1 filings
“In connection with the sale, the Company recorded a $ 2.3 million loss in (Gain) loss on disposal or abandonment of assets, net in its 2024 consolidated statements of operations.”10-K · Mar 12, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
15.35-1.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for HNRG. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for HNRG. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind HNRG
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
CNPCenterPoint Energy, Inc.supplierMar 12, 2026 ▾
“16 Table of Contents Significant third-party customers in 2025 include Vectren Corporation, a wholly-owned subsidiary of CenterPoint Energy (NYSE: CNP), Orlando Utility Commission (OUC), and Duke Energy Corporation (NYSE: DUK).”
ARLPAlliance Resource Partners, L.P.competitorMar 12, 2026 ▾
“We compete against large producers such as Peabody Energy Corporation (NYSE: BTU), Alliance Resource Partners (Nasdaq: ARLP), and other private producers.”
Depended on by
BTUPeabody Energy CorporationcompetitorFeb 19, 2026 ▾
“In addition to its alternative fuel source competitors, Peabody’s principal U.S.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
HNRG is currently a Follower in the organic co-movement group Nuclear and Rare Materials. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for HNRG; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.