Filing Flows › Hallador Energy (HNRG) › Q2 2025
Hallador Energy (HNRG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Hallador Energy (HNRG) reported revenue of $103M for the second quarter 2025 (Q2 2025), +10% from a year earlier and -13% from the quarter before. Operating margin was 11.5%, net earnings $8.2M (8.0% of revenue).
Hallador Energy, Q2 2025: revenue $103M (+10% year over year), operating margin 11.5%, net earnings $8.2M, operating cash flow $11.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $103M | -13% | +10% |
| Operating profit | $11.8M | -15% | — |
| Net earnings | $8.2M | -17% | — |
| Operating cash flow | $11.4M | -70% | -52% |
What changed
Revenue was $102.8M in Q2 2025, up 10% year over year and down 13% from the previous quarter.
Operating profit was $11.8M, a 11.5% margin (up 19.2 points year over year). Total costs fell 10% while revenue rose 10%. Net earnings were $8.2M. The effective tax rate was 0.0%.
Operating cash flow was $11.4M (down 52% year over year), 138% of net earnings. Non-cash charges added back $5.5M of depreciation and amortization and $475K of share-based compensation. Working capital and other items used $2.9M. Capital expenditures of $13.0M exceeded it, leaving free cash flow of −$1.7M.
Questions
What was Hallador Energy's revenue in the second quarter 2025?
Hallador Energy (HNRG) reported revenue of $103M for the second quarter 2025 (Q2 2025), +10% from a year earlier and -13% from the quarter before.
Was Hallador Energy profitable in the second quarter 2025?
Operating profit was $11.8M (11.5% of revenue) and net earnings $8.2M.
Source: Hallador Energy 10-Q on SEC EDGAR.