Hallador Energy Company

Hello and welcome to the Halador Energy Company announces fourth quarter 2023 earnings call. My name is Harry and I'll be your coordinator today. If you'd like to ask a question during Q&A, you may do so by pressing star one on your telephone keypad. And I would now like to turn the call over to Becky Palumbo, investor relations to begin. Please go ahead.

Thank you, Harry. Good morning and this is for Halador Energy's call for the fourth quarter and full year 2023 earnings call. And today are Brent Gildlin, our president and CEO, and Larry Martin, our CFO. Yesterday afternoon, Halador released its fourth quarter and full year 2023 financial in a press release. Today, we will discuss those results, as well as our perspective on current market conditions and outlook for 2024. Following our 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 Securities and Exchange Commission and are also reflected in yesterday'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, from those we've projected or expected. Halidor has no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future results, or otherwise, unless required. Lastly, Halidor will file a Form 10-K sometime this week, And with that said, I will turn the call over to Larry.

Thanks, Becky. Good afternoon, everyone. Before we get started, I would like to make a definition of adjusted EBITDA as operating cash flows less the effects of certain subsidiary and equity method investment activity plus bank interest less the effects of working capital period changes plus cash paid on asset retirement obligation reclamations plus other amortizations. For the fourth quarter, Halador incurred a net loss of 10.2 million, 31 cents basic earnings per share, and 27 cents for diluted earnings per share. For the year ended December 20, or December 31, 23, we had 44.8 million of net income. or $1.35 per basic earnings per share and $1.25 for diluted earnings per share. We had adjusted EBITDA of $1.7 million for the quarter and $107.3 million for the year. We increased our bank by $29.8 million for the quarter and $6.3 million for the year. Our funded bank debt as of the end of December 31st was $91.5 million. Our letters of credit were $18.6 million. Our net funded bank debt was $88.7 million. Our leverage ratio for debt to adjusted EBITDA was 1.3 times at the end of the year. I will now turn the call over to Brent Billson, our CEO.