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Hallador reports Q2'17 net income of $389,000

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Hallador reports Q2'17 net income of $389,000

Hallador Energy Co. posted net income of $389,000 in the second quarter.

The company's net income per share was 1 cent during the quarter, missing the S&P Capital IQ consensus normalized EPS estimate of 14 cents.

In the prior-year period, the company reported net income of $5.9 million, or 19 cents per share.

Hallador reported that revenue fell 6.2% year over year to $64.3 million.

The company shipped 1.5 million tons of coal during the quarter, realizing an average sale price of $40.59/ton and an average production cost of $28.47/ton. While shipments were up compared with the year-ago quarter, production costs, which averaged $31.01/ton in the second quarter of 2016, were down over the same period.

Through the first six months of the year, the company reported net income of $7.8 million. On a per-share basis, the company posted net income of 25 cents.

Year-to-date revenue dropped 11.5% from a year earlier to $127.9 million.