Hallador Energy HNRG Q2 2026 earnings

“Since our strategic update in June, we have made significant progress across key elements of the Turtle Creek project. We recently completed a site visit to get a firsthand update of the disassembly of the turbine equipment, which is underway with a substantial Siemens workforce on site, and we continue to be pleased with both the progress of the disassembly efforts and the condition of the turbine equipment. Shipment of the equipment remains on schedule for September, and the generator interconnection process is also advancing. As the equipment, restoration and construction scopes become more defined, the project economics have become even more compelling, and we now expect total project cost to be below $800 million, or approximately $1,700/kW — which we believe is a significant cost advantage relative to competing new-build capacity — while moving forward our targeted commercial operation timeframe to the second half of 2028, a timeline we believe is materially ahead of comparable projects. This progress moves us closer to a final investment decision on a 460 MW peaking project that would meaningfully expand and diversify our dispatchable generation platform. At the same time, the market backdrop continues to validate the strategic rationale for that investment. We are seeing robust demand for accredited capacity and energy from a growing and increasingly diverse set of counterparties, and are working towards additional forward sales before the end of the year. With $2.4 billion of revenue already contracted through 2040, and potentially more sales on the way, we believe Hallador offers investors a degree of revenue visibility that we believe is among the strongest in the sector.”