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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 1-9172 NACCO INDUSTRIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identificat ...

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 ...

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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...