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Hallador Energy (HNRG) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Hallador Energy (HNRG) Q2 2026 earnings results →
Q2 2026 Revenue down 1% year over year to $102M · 15¢ of every $1 of revenue lost · operating margin -12.5%
Hallador Energy made $102M in Q2 2026 (-1% Y/Y). Operating margin -12.5%, net loss $15.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $101.5M in Q2 2026, down 1% year over year and roughly flat from the previous quarter.
Operating costs exceeded revenue by $12.7M, an operating margin of -12.5%. Total costs grew 25% against a revenue fall of 1%. The fastest-growing cost line was Other operating costs (+28%). The quarter ended with a net loss of $15.2M, wider than the previous quarter's $9.3M loss.
Operating cash flow was −$23.9M. Non-cash charges added back $9.9M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $20.0M. Capital expenditures of $26.3M exceeded it, leaving free cash flow of −$50.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $102M | -1% | -12.5% | −$15.2M | −$23.9M |
| Q1 2026 | 10-Q | May 6, 2026 | $102M | -14% | -5.6% | −$9.3M | $20.5M |
| Q4 2025 | 10-K | Mar 12, 2026 | $102M | +9% | 6.1% | −$240K | $8.2M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $147M | +40% | 19.8% | $23.9M | $23.2M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $103M | +10% | 11.5% | $8.2M | $11.4M |
| Q1 2025 | 10-Q | May 12, 2025 | $118M | +6% | 11.8% | $10.0M | $38.4M |
| Q4 2024 | 10-K | Mar 17, 2025 | $93.4M | -22% | -234.0% | −$216M | $38.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Hallador Energy
Hallador Energy Company (“Hallador” or the “Company”) is a vertically integrated, independent power producer (“IPP”) and fuel company with operations primarily in Indiana. The Company operates across multiple stages of the energy value chain, from accredited capacity and energy to coal. The Company’s electric operations are located within the Midcontinent Independent System Operator’s ("MISO") footprint. Our operations comprise Hallador Power Company, LLC (“Hallador Power”) that provides accredited capacity and energy to utilities and other energy market participants through its MISO interconnection, and Sunrise Coal, LLC (“Sunrise”) that mines bituminous coal in Indiana to serve various power plants in the Midwest and Southeast United States.
In its own words, from its 10-K, filed Mar 12, 2026.
Hallador Energy against its Electric Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -1% against the peers' median +13%. Operating margin: -12.5% against the peers' median 26.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HNRG Hallador Energy | Q2 2026 | $102M | -1% | -12.5% |
| Southern Power | Q3 2026 | $8.8B | +13% | 33.9% |
| NEE NextEra Energy | Q3 2026 | $8.1B | +2% | 32.4% |
| Florida Power & Light | Q2 2026 | $7.5B | +12% | 29.7% |
| CEG Constellation Energy | Q2 2026 | $7.5B | +23% | 7.7% |
| NRG NRG Energy | Q2 2026 | $7.5B | +11% | 13.0% |
| AEP Texas | Q3 2026 | $6.8B | +14% | 26.5% |
| VST Vistra | Q3 2026 | $6.3B | +28% | 26.9% |
| D Dominion Energy | Q3 2026 | $5.6B | +24% | 32.8% |
Source: Hallador Energy 10-Q on SEC EDGAR · CIK 788965 · Electric Services
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More on HNRG
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results