Hallador Energy Company (NASDAQ:HNRG) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET

Company Participants

Sean Mansouri - IR
Brent Bilsland - President and Chief Executive Officer
Marjorie Hargrave - Chief Financial Officer

Conference Call Participants

Lucas Pipes - B. Riley

Operator

Good afternoon. Thank you for attending today's Hallador Energy's Second Quarter 2024 Conference Call. My name is Cole, and I'll be the moderator for today's call. [Operator Instructions]

I'd now like to pass the call over to Sean Mansouri, the Company's Investor Relations Advisor with Elevate IR.

Sean Mansouri

Thank you, and good afternoon, everyone. We appreciate you joining us to discuss our second quarter 2024 results. With me today are President and CEO, Brent Bilsland, and CFO, Marjorie Hargrave. This afternoon, we released our second quarter 2024 financial and operating results in a press release that is now on the Hallador Investor Relations website. Today, we will discuss those results as well as our perspective on current market conditions and our outlook for 2024.

Following prepared remarks, we will open the call to answer your questions. Before beginning, a reminder that some of our remarks today may include forward-looking statements, subject to a variety of risks, uncertainties and assumptions contained in our filings from time to time with the SEC and are also reflected in today's press release.

While these forward-looking statements are based on information currently available to us, if one or more of these risks or uncertainties materialize or if our underlying assumptions prove incorrect, actual results may vary materially from those we projected or expected. In providing these remarks, Hallador has no obligation to publicly update or revise any forward-looking statements. whether as a result of new information, future events or otherwise, unless required by law to do so. We plan on filing our Form 10-Q later this week.

And with the preliminaries out of the way, I'll turn the call over to President and CEO, Brent Bilsland.

Brent Bilsland

Thanks, Sean.

At Hallador, we've been undergoing a strategic and deliberate transformation process to capture increased value from our products and services as the company advances up the value chain. To accomplish this, we have focused on expanding our offerings from fuel production to wholesale electricity sales to ultimately powering the industrial end user.

The acquisition of our Merom Power plant, less than two years ago, was the first step in this journey, enabling us the ability to transform our fuel into higher-value wholesale electricity. We took another step forward earlier this year when we signed a memorandum of understanding with Hoosier Energy and WIN REMC, creating a pathway to further increase value and drive margin expansion by enabling sales of wholesale electricity to industrial users of power.