UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o Indicate by check mark whether the registrant has submitted electronically every Inte ...

NACCO Industries, Inc. (NYSE:NC) Q1 2023 Results Conference Call May 4, 2023 8:30 AM ET Company Participants Christina Kmetko - IR J.C. Butler - President and CEO Elizabeth Loveman - VP and Controller Operator Good morning and welcome to the NACCO Industries' 2023 First Quarter Earnings Call. My name is Brika and I will be your event specialist running today's call. At this time all participants are in a listen-only mode, and after the speakers' prepared remarks, there will be a question and answer session. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _______________________________________________________________________________________________________________________________________________________________________________________________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...

NACCO Industries, Inc. (NYSE:NC) Q4 2022 Results Conference Call March 16, 2023 8:30 AM ET Company Participants Christina Kmetko - IR J.C. Butler - President and CEO Elizabeth Loveman - VP and Controller Conference Call Participants Andrew Kuhn - Focused Compounding Nachy Kanfer - Donovan Energy Operator Hello, and welcome to the NACCO Industries Q4 2022 Earnings Conference Call. My name is Lauren, and I will be coordinating your call today. [Operator Instructions] I will now hand you over to your host, Chr ...

Financial Performance - Total revenue for NACCO Industries in 2022 was $241.7 million, a 26% increase from $191.8 million in 2021[363] - Net income for 2022 was $74.2 million, up 54% from $48.1 million in 2021[363] - Total equity increased by $74.85 million to $426.966 million in 2022, reflecting a strong financial position[386] - Consolidated net income for 2023 is expected to decrease substantially compared to 2022, primarily due to the absence of $30.9 million in pre-tax contract termination income recognized in 2022[423] Segment Performance - Operating profit for the Coal Mining segment decreased to $38.3 million in 2022 from $45.8 million in 2021, a decline of 16%[363] - The Minerals Management segment saw a significant increase in revenue, rising to $60.2 million in 2022 from $31.0 million in 2021, representing a 94% growth[363] - Revenues in the Coal Mining segment increased by 14.9% to $95.204 million in 2022, driven by higher per ton sales prices and increased customer requirements[395] - Total revenues for the North American Mining segment increased by 8.5% in 2022, reaching $85.7 million, up from $78.9 million in 2021, driven by increased customer requirements[403] - The Minerals Management segment's revenues surged to $60.2 million in 2022, a significant increase from $31.0 million in 2021, largely due to higher oil and natural gas prices[407] Tax and Impairment - The effective income tax rate for 2022 was 15.5%, slightly higher than 15.3% in 2021[363] - The effective income tax rate increase in 2022 was primarily due to higher earnings at entities that do not qualify for percentage depletion[372] - The Company recorded non-cash asset impairment charges of $3.9 million in 2022 related to legacy coal assets[358] Cash Flow and Expenditures - Total cash provided by operating activities decreased by $7.14 million to $67.735 million in 2022, primarily due to a $17.6 million decrease in working capital[375] - Capital expenditures for 2023 are planned at approximately $71.5 million, with $39 million allocated to the NAMining segment for equipment acquisition related to the Thacker Pass lithium project[383] - In 2023, capital expenditures are expected to be approximately $50 million, excluding Minerals Management, which is targeting investments of up to $20 million[425] - Cash flow before financing activities in 2023 is expected to be positive but decline significantly from 2022 due to forecasted capital expenditures and anticipated decrease in net income[426] Future Projections - The company expects coal deliveries to decrease in 2023 due to the planned retirement of the Pirkey power plant, which will significantly impact earnings[411] - Operating profit for the Coal Mining segment is projected to decline significantly in 2023, influenced by higher operating expenses and reduced earnings from unconsolidated operations[412] - NAMining's operating profit is expected to decrease significantly in 2023, primarily due to the completion of final mine reclamation activities at Caddo Creek[416] - The Minerals Management segment anticipates a significant decrease in operating profit in 2023, driven by lower expected natural gas and oil prices and reduced production volumes[419] Strategic Initiatives - The Company is focused on improving profitability in the NAMining business, which is expected to contribute significantly to operating profit over time[429] - The Company is exploring the development of utility-scale solar projects on reclaimed mining properties, leveraging its core mining competencies[434] - Mitigation Resources is progressing towards becoming a top ten provider of stream and wetland mitigation services in the southeastern United States, with strong growth potential[431] Other Notable Transactions - NACCO recognized $16.9 million in "Other contract termination settlements" during the second quarter of 2022[364] - The Company transferred its ownership interest in Midwest AgEnergy Group, LLC for a cash payment of $18.6 million in December 2022[367] - The Company ended 2022 with eight mitigation banks and four permittee-responsible mitigation projects across Tennessee, Mississippi, Alabama, and Texas[425]

NACCO Industries, Inc. (NYSE:NC) Q3 2022 Results Conference Call November 3, 2022 8:30 AM ET Company Participants Christina Kmetko - IR J.C. Butler - President and CEO Elizabeth Loveman - VP and Controller Operator Hello, and welcome to the NACCO Industries Q3 2022 Earnings Conference Call. My name is Lauren, and I will be coordinating your call today. [Operator Instructions] I will now hand you over to your host, Christina Kmetko to begin. Christina, please go ahead. Christina Kmetko Thank you. Good mornin ...

Financial Performance - Total revenues for the three months ended September 30, 2022, were $61,793,000, an increase of 19.5% compared to $51,742,000 for the same period in 2021[11] - Gross profit for the nine months ended September 30, 2022, was $49,318,000, up from $31,006,000 in the same period of 2021, representing a 59.1% increase[11] - Net income for the three months ended September 30, 2022, was $10,614,000, a decrease of 57.3% from $24,837,000 in the same period of 2021[13] - Basic earnings per share for the nine months ended September 30, 2022, were $8.27, compared to $5.65 for the same period in 2021, reflecting a 46.5% increase[11] - Operating profit for the three months ended September 30, 2022, was $9,818,000, down 64.4% from $27,592,000 in the same period of 2021[11] - Total comprehensive income for the three months ended September 30, 2022, was $10,732,000, down from $24,980,000 in the same period of 2021[13] - For the nine months ended September 30, 2022, total revenues reached $178.185 million, up from $142.743 million in the same period of 2021, reflecting a growth of approximately 25%[54] Assets and Liabilities - Total assets as of September 30, 2022, were $560,204,000, an increase of 10.4% from $507,220,000 as of December 31, 2021[10] - Cash and cash equivalents increased to $92,754,000 as of September 30, 2022, from $86,005,000 at the end of 2021, marking a 3.9% increase[10] - Total liabilities decreased to $144,783,000 as of September 30, 2022, down from $155,104,000 as of December 31, 2021, a reduction of 6.6%[10] - The total stockholders' equity increased to $415,421,000 as of September 30, 2022, from $352,116,000 as of December 31, 2021, reflecting an increase of 18.0%[10] - The company's total equity increased by $63.3 million from $352.1 million at December 31, 2021, to $415.4 million at September 30, 2022[130] - The debt to total capitalization ratio improved from 6% at December 31, 2021, to 4% at September 30, 2022[130] Segment Performance - The Coal Mining segment recognized a gain of $30.9 million from the sale of Coal Creek Station, which included $14.0 million in cash and assets valued at $16.9 million[21] - The Coal Mining segment operates under long-term contracts with power generation companies, with earnings fluctuating based on contract types, including take-or-pay and requirements contracts[20] - The Coal Mining segment reported revenues of $22.599 million for Q3 2022, a 7.9% increase from $20.946 million in Q3 2021[83] - NAMining segment revenues rose to $22.962 million in Q3 2022, compared to $20.429 million in Q3 2021, reflecting a 12.5% increase[83] - The Minerals Management segment achieved an operating profit of $10.616 million in Q3 2022, up 12.3% from $9.454 million in Q3 2021[83] - The Minerals Management segment generated revenues of $16.2 million in Q3 2022, up 52.5% from $10.6 million in Q3 2021[109] Cash Flow and Investments - The Company reported a net cash provided by operating activities of $54,929,000 for the nine months ended September 30, 2022, compared to $67,794,000 for the same period in 2021[15] - Cash flow from operating activities decreased by $12.9 million to $54.9 million in the first nine months of 2022 compared to $67.8 million in 2021[118] - The company reported a net cash used for investing activities of $39,238,000 for the nine months ended September 30, 2022, compared to $35,039,000 in 2021[15] - The investment in unconsolidated subsidiaries totaled $9.9 million as of September 30, 2022, down from $19.1 million as of December 31, 2021[74] - The Company plans to continue acquiring mineral and royalty interests as part of its growth strategy[103] Future Outlook - In 2023, the company anticipates a significant decrease in operating profit and Segment Adjusted EBITDA compared to 2022, primarily due to lower expected natural gas and oil prices[172] - The company expects net income to decrease significantly in 2023, largely due to $30.9 million of pre-tax contract termination income recognized in 2022[177] - The anticipated lower earnings at the unconsolidated coal mining operations are expected to be driven by a reduction in the per ton management fee at Falkirk[163] - The Company is optimistic about long-term growth in the NAMining and Minerals Management segments, with potential for significant project expansion[181] Operational Efficiency - The Company is focused on managing coal production costs and maximizing efficiencies to enhance competitiveness for its customers[185] - The management fee structure for coal deliveries is designed to eliminate exposure to spot market price fluctuations while ensuring income stability[26] - The Company maintains a conservative capital structure while focusing on cash generation for reinvestment and operational excellence[186]

Financial Data and Key Metrics Changes - Consolidated operating profit for Q2 2022 rose significantly to $29.7 million from $8.7 million in Q2 2021 [12] - Consolidated net income increased to $37.2 million or $5.07 per share from $6.5 million or $0.91 per share in the previous year [12] - Adjusted EBITDA increased to $21 million, up 37% from $15.3 million in the prior year [13] Business Segment Data and Key Metrics Changes - Coal Mining segment's operating profit decreased moderately due to higher employee-related costs and lower earnings at Mississippi Lignite Mining Company [14] - Minerals Management segment's operating profit and adjusted EBITDA more than doubled from the prior year, driven by higher natural gas and oil prices [15] - North American Mining segment saw an increase in revenues but lower operating profit due to rising employee-related costs [9] Market Data and Key Metrics Changes - The coal mining industry faces ongoing political and regulatory challenges, but there is optimism about coal-fired power generation in the U.S. [6] - Higher natural gas and oil prices in 2022 significantly benefited the Minerals Management segment [8] Company Strategy and Development Direction - The company is focused on supporting existing customers in the coal mining segment while exploring new projects in North American Mining [9][10] - The acquisition of Rainbow Energy as a new customer is expected to enhance future operations [5] - The company aims to grow and diversify its Minerals Management business through attractive acquisitions [8] Management's Comments on Operating Environment and Future Outlook - Management expects a significant decrease in operating profit for the Coal Mining segment in the second half of 2022 compared to the previous year [16] - Anticipated cost inflation is expected to increase the cost per ton sold, impacting overall results [18] - North American Mining's operating profit is expected to increase in the second half of 2022 due to improved contract mix [20] Other Important Information - The company ended the quarter with consolidated cash of $97.1 million and debt of $18.4 million [25] - Cash flow before financing activities is expected to be significantly lower than in 2021 due to high capital expenditures [25] Q&A Session Summary Question: Are the office building and ethanol company membership units long-term assets? - Management indicated that the office building is being evaluated for potential occupancy and may be held or sold based on future conditions [31][32] Question: Does the shift of planned equipment acquisition costs for Thacker Pass reflect a change in project expectations? - Management acknowledged that the Thacker Pass project is behind schedule but remains optimistic about its future impact [34] Question: Will future value changes of certain assets be recorded in the Corporate segment? - It was clarified that these items will be reported below operating profit as part of other income [37]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _______________________________________________________________________________________________________________________________________________________________________________________________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...

NACCO Industries, Inc. (NYSE:NC) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Christina Kmetko - Investor Relations J.C. Butler - President and Chief Executive Officer Elizabeth Loveman - Vice President and Controller Conference Call Participants Andrew Kuhn - Focused Compounding Operator Good day and thank you for standing by. Welcome to NACCO Industries Q1 2022 Earnings Conference Call. [Operator Instructions] Thank you. I would now like to hand the conference over to your ...