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, 2021 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) Delaware 34-1505819 (State or other jurisdiction of incorporation or organization) (I.R.S. ...

Financial Data and Key Metrics Changes - The consolidated operating profit for Q3 2021 improved significantly to $27.6 million from $9.4 million in Q3 2020 [16] - Consolidated net income rose to $24.8 million or $3.47 per share, compared to $8 million or $1.14 per share in the previous year [16] - Consolidated adjusted EBITDA, excluding the termination fee, increased by 55.3% to $23.3 million from $15 million in the prior year [16][29] Business Segment Data and Key Metrics Changes - The Minerals Management segment had a strong quarter, with operating profit and segment adjusted EBITDA significantly increasing due to $3.3 million of settlement income and higher royalty income from increased production and higher natural gas and oil prices [19][27] - In the Coal Mining segment, operating profit improved primarily due to the Bisti termination payment and increased earnings from unconsolidated operations, despite higher operating expenses [9][17] - North American Mining's segment adjusted EBITDA increased significantly over the prior year, driven by increased production and new contracts [24] Market Data and Key Metrics Changes - The demand for coal has increased as power generation companies rely more on coal for low-cost and dependable electricity due to rising natural gas prices [9] - The company expects coal deliveries to decrease in 2022 due to the Bisti Fuels contract termination and anticipated customer requirements [23] Company Strategy and Development Direction - The company is focused on protecting its core business while diversifying and growing through strategic acquisitions and management fee contracts [14] - There is a strong growth potential in North American Mining, with a robust pipeline of new projects and the ability to leverage expertise across various minerals [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term outlook, citing confidence in strategies to grow and diversify the business [14] - The company anticipates a significant increase in consolidated operating profit and net income for Q4 2021, but expects a decrease in consolidated net income for 2022 due to lower earnings in the Coal Mining and Minerals Management segments [29] Other Important Information - The company ended Q3 2021 with consolidated cash of $87.5 million and debt of $17 million, compared to $85 million in cash and $32 million in debt at the end of Q2 2021 [30] - The anticipated sale of GRE's Coal Creek Station is expected to close in Q1 2022, which will result in a $14 million termination payment [13] Q&A Session Summary Question: Sensitivity to Natural Gas Prices - Management acknowledged that natural gas prices significantly affect both royalties at Minerals Management and dispatch at coal power plants, contributing to increased demand for coal [33][34] Question: Credit Availability and Fossil Fuel Lending Policies - Management noted that it is becoming more difficult for coal companies to borrow due to banks steering away from fossil fuels, but they are currently pleased with the terms of their refinancing efforts [36][37] Question: CapEx at Mitigation Resources - The $2 million CapEx mentioned is for equipment to enhance financial returns in mitigation resources, which is treated as work in process inventory rather than traditional CapEx [38][39] Question: Risk of Early Termination of Coal Sales Agreement - Management discussed the new owners' intent to operate the plant efficiently, viewing it similarly to a manufacturing operation, while acknowledging various business and regulatory risks [44][45] Question: Capacity Factors and Demand in Mississippi - Management explained that increased natural gas prices have supported higher dispatch levels at the Red Hills power plant, which is expected to continue operating through its power purchase agreement [50][51]

Financial Performance - Total revenues for the three months ended September 30, 2021, were $51,742,000, representing a 60% increase from $32,295,000 in the same period of 2020[11] - Gross profit for the nine months ended September 30, 2021, was $31,006,000, up 97% from $15,741,000 in the prior year[11] - Net income for the three months ended September 30, 2021, was $24,837,000, compared to $8,022,000 for the same period in 2020, marking a 210% increase[11] - Basic earnings per share for the three months ended September 30, 2021, were $3.47, up from $1.14 in the same period of 2020[11] - Operating profit for the nine months ended September 30, 2021, was $44,592,000, compared to $21,460,000 in the prior year, reflecting a 108% increase[11] - Operating profit for the total company was $27.6 million in Q3 2021, compared to $9.4 million in Q3 2020, reflecting a 194% increase[73] - Total comprehensive income for the nine months ended September 30, 2021, was $40,732,000, compared to $20,593,000 for the same period in 2020, reflecting a 97% increase[13] Cash Flow and Assets - Cash and cash equivalents at the end of the period were $87,507,000, a decrease from $88,450,000 at the beginning of the period[15] - The company reported net cash provided by operating activities of $67,794,000 for the nine months ended September 30, 2021, significantly up from $2,760,000 in 2020[15] - Total assets increased to $488,918,000 as of September 30, 2021, compared to $476,179,000 as of December 31, 2020[10] - Total liabilities decreased to $147,999,000 from $175,555,000 over the same period[10] - The company had a total cash and cash equivalents balance of $87,507,000 at the end of the period, down from $97,567,000 at the beginning of the period[15] Segment Performance - Coal Mining segment revenues reached $23.7 million in Q3 2021, up 16% from $20.4 million in Q3 2020[73] - NAMining segment revenues increased to $17.7 million in Q3 2021, compared to $9.4 million in Q3 2020, representing an 87% growth[73] - Minerals Management segment revenues surged to $10.6 million in Q3 2021, a significant increase from $2.7 million in Q3 2020[73] - Operating profit for the Coal Mining segment increased to $23.121 million in Q3 2021 from $11.174 million in Q3 2020, a 107% increase[104] - Operating profit for the NAMining segment increased to $312,000 in Q3 2021, up from $244,000 in Q3 2020[137] - Operating profit for the Minerals Management segment rose to $9.454 million in Q3 2021, compared to $1.673 million in Q3 2020[140] Investments and Expenditures - The company made expenditures for property, plant, and equipment totaling $35,534,000 during the nine months ended September 30, 2021[15] - Capital expenditures for the Coal Mining segment were $5.6 million in Q3 2021, compared to $3.2 million in Q3 2020[73] - Expenditures for property, plant, and equipment and mineral interests were $35.5 million during the first nine months of 2021, with planned expenditures of approximately $24 million in the NAMining segment for 2022[116] - The company is evaluating additional investments in mineral and royalty interests of up to $15 million by the end of 2022[171] Contracts and Agreements - The termination fee received from NTEC for the contract mining agreement was $10.3 million, effective September 30, 2021[26] - The Coal Sales Agreement with Rainbow Energy will take effect upon the sale of Coal Creek Station, with Falkirk supplying all coal requirements thereafter[23] - A new Coal Sales Agreement will be effective upon the sale, with Falkirk supplying all coal requirements for Coal Creek Station, while Rainbow Energy will cover all mine operating costs[80] - If Rainbow Energy terminates the Coal Sales Agreement before 2027, Falkirk could receive additional payments ranging from $8 million to $2 million depending on the closure date[80] Future Outlook - The anticipated reduction in earnings at the unconsolidated Coal Mining operations is expected to be driven by the Bisti contract termination and reduced fees at Liberty[144] - Full-year 2021 coal deliveries are expected to be moderately lower than 2020, but operating profit is anticipated to increase due to mine reclamation income and reduced expenses[145] - In 2022, coal deliveries are expected to decrease due to the Bisti contract termination, leading to a significant decrease in operating profit compared to 2021[152][153] - The company expects unlevered after-tax returns on invested capital in the mid-teens as its contract mining business matures and scales[178] Regulatory and Market Environment - The political and regulatory environment poses challenges for expanding coal mining operations, limiting opportunities in the current market[182] - The Company continues to manage coal production costs and maximize efficiencies to support its customers amid fluctuating energy prices[181]

NACCO Industries, Inc. (NYSE:NC) Q2 2021 Earnings Conference Call August 5, 2021 8:30 AM ET Company Participants Christina Kmetko - Investor Relations J.C. Butler - President & Chief Executive Officer Elizabeth Loveman - Vice President & Controller Conference Call Participants Nachy Kanfer - Donavan Energy. Operator Good day and thank you for standing by. Welcome to the NACCO Industries Second Quarter Earnings Call. At this time, all participants are in a listen-only mode. After the speakers??? presentation ...

(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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-9172 NACCO INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Delaware 34-1505819 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 5875 Lande ...

NACCO Industries, Inc. (NYSE:NC) Q1 2021 Earnings Conference Call May 6, 2021 8:30 AM ET Company Participants Christina Kmetko - IR Consultant John Butler - President, CEO & Director Elizabeth Loveman - VP, Controller & Principal Financial Officer Conference Call Participants Andrew Kuhn - Focused Compounding Capital Management Operator Ladies and gentlemen, welcome to the Connectco Industries First Quarter Earnings Call - Apologies, ladies and gentlemen, welcome to the NACCO Industries First Quarter Earnin ...

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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...

NACCO Industries, Inc. (NYSE:NC) Q4 2020 Results Conference Call March 4, 2021 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 Trey Henninger - DIY Investing Operator Ladies and Gentlemen, thank you for standing by. And welcome to the NACCO Industries Fourth Quarter and Full Year Earnings Conference Call. [Operator Instructions] It is now my pleasure to turn the call ove ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K Securities registered pursuant to Section 12(b) of the Act (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, 2020 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) Delaware 34-1505819 (State or ot ...

NACCO Industries, Inc. (NYSE:NC) Q3 2020 Earnings Conference Call November 3, 2020 8:30 AM ET Company Participants Christina Kmetko - IR J.C. Butler - President & CEO Elizabeth Loveman - VP & Controller Conference Call Participants Andrew Kuhn - Focused Compounding Capital Management Trey Henninger - DIY Investing Operator Ladies and gentlemen, thank you for standing by, and welcome to the NACCO Industries Third quarter Earnings Conference Call. [Operator Instructions] Please be advised that today's confere ...