Hallador Energy Company (HNRG) Income Statement
HNRG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHNRG revenue and net income
Where HNRG's revenue goes
2025Each bar shows an amount and its share of revenue. HNRG kept 8.9% of revenue as net income.
HNRG profit margins
HNRG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +16.1% | +9.1% | +14.0% | +3.3% |
| Gross profit | −61.3% | −2.9% | +8.4% | +4.2% |
| Operating income | — | +26.1% | +81.5% | +3.4% |
| Net income | — | +32.2% | — | +7.6% |
| EPS (diluted) | — | +22.0% | — | +3.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HNRG quarterly EPS vs estimates
Hallador Energy beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 9, 2026 (estimate $0.07).
HNRG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $469.5M | $404.4M | $634.9M | $362.0M | $247.7M | $244.2M | $317.4M | $291.8M | $268.2M | $278.9M |
| Cost of revenue | $382.2M | $178.6M | $303.2M | $266.6M | $198.8M | $186.0M | $296.4M | $259.5M | $228.6M | $228.3M |
| Gross profit | $87.3M | $225.8M | $331.6M | $95.4M | $48.8M | $58.3M | $21.0M | $32.3M | $39.6M | $50.6M |
| Research & development | — | — | — | — | — | $253,000 | — | $1.2M | $854,000 | $1.7M |
| Sales, general & admin | $26.2M | $142.7M | $179.5M | $16.4M | $15.3M | $12.4M | $12.8M | $11.8M | $15.0M | $10.5M |
| Total operating expenses | $26.2M | $444.0M | $266.6M | $65.0M | $54.9M | $55.2M | $15.3M | $14.2M | $16.7M | $12.2M |
| Operating income | $61.1M | −$218.2M | $65.0M | $30.4M | −$6.0M | $3.1M | $5.7M | $18.1M | $26.3M | $40.9M |
| Interest income | $602,000 | $235,000 | — | — | — | — | $13.7M | $16.3M | $12.4M | $15.9M |
| Interest expense | $16.9M | $13.8M | $13.7M | $11.9M | $11.1M | $13.4M | $16.0M | $16.3M | $12.4M | $14.8M |
| Income before taxes | $43.7M | −$235.5M | $49.3M | $19.9M | −$3.7M | −$8.9M | −$82.2M | $3.5M | $13.9M | $8.5M |
| Income taxes | $1.8M | −$9.4M | $4.5M | $1.8M | $26,000 | −$2.7M | −$22.3M | −$4.1M | −$19.2M | −$4.0M |
| Net income | $41.9M | −$226.1M | $44.8M | $18.1M | −$3.8M | −$6.2M | −$59.9M | $7.6M | $33.1M | $12.5M |
| EBITDA | $103.3M | −$157.8M | $126.9M | $75.0M | $44.8M | $41.4M | −$15.4M | $64.0M | $65.5M | $59.5M |
| EPS (diluted) | $0.98 | −$0.38 | $1.28 | $0.54 | −$0.52 | −$0.01 | −$0.02 | $0.25 | $0.50 | $0.97 |
| Gross margin | 18.6% | 55.8% | 52.2% | 26.3% | 19.7% | 23.9% | 6.6% | 11.1% | 14.7% | 18.1% |
| Operating margin | 13.0% | −53.9% | 10.2% | 8.4% | −2.4% | 1.3% | 1.8% | 6.2% | 9.8% | 14.7% |
| Net margin | 8.9% | −55.9% | 7.1% | 5.0% | −1.5% | −2.5% | −18.9% | 2.6% | 12.3% | 4.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $101.5M | $100.2M | $101.9M | $146.8M | $102.9M | $117.8M | $94.2M | $105.0M | $93.8M | $108.4M | $119.2M | $165.8M |
| Cost of revenue | $96.0M | $100.8M | $230.9M | $54.7M | $46.2M | $50.4M | $32.5M | $49.6M | $49.0M | $101.0M | $105.4M | $76.9M |
| Gross profit | $5.5M | −$625,000 | −$128.9M | $92.2M | $56.7M | $67.3M | $61.7M | $55.4M | $44.9M | $7.4M | $13.8M | $88.9M |
| Sales, general & admin | $7.6M | $6.9M | $46.7M | $4.8M | $34.3M | $33.9M | $34.0M | $33.2M | $37.8M | $5.9M | $7.6M | $43.7M |
| Total operating expenses | $18.2M | $6.9M | −$135.1M | $63.1M | $44.8M | $53.4M | $280.0M | $50.7M | $52.1M | $5.9M | $24.0M | $65.1M |
| Operating income | −$12.7M | −$7.5M | $6.2M | $29.1M | $11.9M | $13.9M | −$218.3M | $4.7M | −$7.3M | $1.4M | −$10.3M | $23.8M |
| Interest income | $279,000 | $147,000 | — | — | $64,000 | $63,000 | — | — | — | — | — | — |
| Interest expense | $3.8M | $4.0M | $4.4M | $4.9M | $3.8M | $3.7M | $3.5M | $2.7M | $3.7M | $3.9M | $3.2M | $3.0M |
| Income before taxes | −$16.4M | −$9.8M | $1.6M | $23.9M | $8.2M | $10.0M | −$221.8M | $1.8M | −$13.2M | −$2.3M | −$13.7M | $19.1M |
| Income taxes | −$1.2M | −$504,000 | $1.8M | — | — | — | −$6.0M | $232,000 | −$3.0M | −$610,000 | −$3.5M | $3.0M |
| Net income | −$15.2M | −$9.3M | −$240,000 | $23.9M | $8.2M | $10.0M | −$215.8M | $1.6M | −$10.2M | −$1.7M | −$10.2M | $16.1M |
| EBITDA | −$2.7M | $4.8M | $20.1M | $38.0M | $17.1M | $28.2M | −$196.1M | $17.9M | $3.8M | $17.1M | $4.9M | $37.8M |
| EPS (diluted) | −$0.32 | −$0.19 | −$0.01 | $0.55 | $0.19 | $0.25 | −$0.15 | $0.04 | −$0.22 | −$0.05 | −$0.28 | $0.48 |
| Gross margin | 5.4% | −0.6% | −126.5% | 62.8% | 55.1% | 57.2% | 65.5% | 52.7% | 47.8% | 6.8% | 11.6% | 53.6% |
| Operating margin | −12.5% | −7.5% | 6.1% | 19.8% | 11.5% | 11.8% | −231.7% | 4.5% | −7.8% | 1.3% | −8.6% | 14.4% |
| Net margin | −15.0% | −9.3% | −0.2% | 16.3% | 8.0% | 8.5% | −229.0% | 1.5% | −10.9% | −1.6% | −8.6% | 9.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HNRG's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HNRG financial results
In fiscal year 2025 (ended December 31, 2025), Hallador Energy reported revenue of $469.5 million, up 16.1% from the year before. It had net income of $41.9 million, a net profit margin of 8.9%. Diluted earnings per share came to $0.98. Over five years revenue grew at an average rate of 14.0% a year.
See the HNRG stock overview for the latest quote and news, or the HNRG chart for price history and technical indicators.
HNRG income statement FAQ
What is Hallador Energy's annual revenue?
Hallador Energy reported total revenue of $469.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 16.1% from $404.4 million the previous year.
Is Hallador Energy profitable?
Yes. Hallador Energy reported net income of $41.9 million in fiscal 2025, a net profit margin of 8.9%; its operating margin was 13.0%.
What is Hallador Energy's gross margin?
Hallador Energy's gross margin was 18.6% in fiscal 2025: for every $100 of revenue, Hallador Energy kept $19 after the direct cost of its products and services.
How fast is Hallador Energy growing?
Revenue grew 14.0% a year on average over the last five fiscal years, from $244.2 million to $469.5 million.
What are Hallador Energy's earnings per share?
Hallador Energy earned $0.98 per diluted share in fiscal 2025, compared with $-0.38 a year earlier.
When will Hallador Energy report its next earnings?
Hallador Energy is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Hallador Energy's fiscal year end?
Hallador Energy's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.