Hallador Energy Company

Good afternoon, ladies and gentlemen. Thank you for joining today's Helidor Energy second quarter 2023 earnings call. My name is Tia and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you would like to ask a question, please press star one on your telephone keypad. I would now like to pass the conference over to your host, Rebecca Palumbo, Director, Investor Relations. Please proceed.

Thank you, Tia, and thank you, everybody, for taking the time to join us today. Yesterday afternoon, we released our second quarter 2023 financial and operating results on Form 10-Q. It is now posted on our website. With me today on this call is Brent Bilsland, our president and CEO, and Larry Martin, our CFO. After the prepared remarks, we will open the call up to your questions. Before we begin, please note that the discussion today may contain certain forward-looking statements that are statements related to future, not past events. In this context, forward-looking statements often address our expected future business and financial performance. 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 understanding Thank you for joining us. for a discussion of some of those risks and uncertainties that may affect our future results. You can review the risk factors described from time to time in the reports we file with the SEC. As a reminder, this call is being recorded. In addition, a live and archived webcast of this earnings call is available on our website. We encourage you to ask questions during the Q&A session. If you are on the webcast and would like to ask a question, you will need to dial into the conference number, and that toll-free number is 1-833-470-1428, access code 813157. And with that, I'll turn the call over to Larry. Thanks, Becky, and good afternoon, everyone.

I'm going to go over the review of our operating results and before I do I want to make the definition here of adjusted EBITDA which is operating cash flows plus our interest expense plus depreciation plus asset retirement obligation reclamation and other amortization and then less any effects of are subsidiary and equity method investments and less any effects of working capital changes. So our net income for the second quarter was 16.9 million, which resulted in 51 cents per basic earnings per share or 47 cents diluted earnings per share. For the six months ended in June, we had 39 million of net income which resulted in $1.18 basic earnings per share and $1.08 diluted earnings per share. Our adjusted EBITDA for the quarter was 35.3 million. And for the six months, 69.3 million. Our bank debt decreased by a million for the second quarter and 11 million for the six months. Our funded bank debt as of June 30th was 74.2 million. Our letters of credit were 11.2 million. and our net funded bank debt, which was our funded bank debt, less cash, was 71.9 million. Our leverage ratio, which is defined with our bank as debt to adjusted EBITDA, was 0.94. So I want to turn that call over now to our CEO, Brent Bilsland, to go over the highlights of the quarter. Thank you, Larry.