RADNOR, PA — Pardee Resources Company (OTC: PDER) reported third-quarter 2025 earnings of $3.77 per share, marking a 50% decline from the $7.49 per share posted in the same period last year. The company attributed the decrease primarily to the absence of one-time gains recorded in 2024, including a major real estate transaction and legal settlement, as well as higher exploratory coal drilling costs.
Revenue for the quarter fell 12% year-over-year to $7.8 million, with total revenues for the first nine months down 6% to $25.7 million. EBITDA declined 45% to $6.12 per share. Despite these headwinds, Pardee reported maintaining a strong cash position of $37 million and minimal debt, positioning it to invest in growth and return capital to shareholders.
The company’s Metallurgical Coal Division posted a bright spot, with revenues climbing 12.9% to $4.4 million, driven by an 11.5% increase in shipments, even as royalty rates fell 8.7%. Pardee added 12.2 million tons of metallurgical coal to its reserve base during the quarter, most of which is currently under lease.
Oil and gas revenue declined 6.6% to $1.4 million, reflecting reduced production from Colorado holdings despite stronger Appalachian natural gas prices averaging $2.15 per mcf—a 44% year-over-year increase. Rising demand from LNG exports and electricity consumption by data centers helped offset some of the decline.
The Timber and Surface Division saw the sharpest pullback, with revenue falling 57% to $1.2 million amid weak lumber markets and limited housing recovery. Alternative Energy revenues dipped slightly to $626,000 as Pardee continued investing in solar projects in Virginia, where four installations totaling 4.6 MW remain on track for completion by year-end. Agricultural results were mixed, with strong grape yields in California offset by weather-related losses in Portugal.
President and CEO Carleton P. Erdman said the company remains focused on expanding reserves and renewable investments while maintaining operational discipline. “Despite persistent challenges in coal and timber markets, our balance sheet remains strong, and we are well positioned to pursue long-term growth opportunities,” Erdman noted in the shareholder report.
The full third-quarter financial report is available on the OTC Markets website at https://www.otcmarkets.com/stock/PDER/disclosure.
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