NACCO Industries(US:NC)2025-03-05 21:54Financial Performance - Q4 2024 operating profit was $3.9 million and net income was $7.6 million, a significant recovery from prior year losses [4]. - Q4 2024 Adjusted EBITDA increased to $9.0 million, up 26.8% from Q4 2023, while FY 2024 Adjusted EBITDA rose to $59.4 million, up 116% from 2023 [4][3]. - FY 2024 consolidated net income increased to $33.7 million, or $4.55 per share, compared to a net loss of $39.6 million, or $5.29 per share in 2023 [4]. - Revenues for Q4 2024 were $70,418,000, a 24% increase from $56,757,000 in Q4 2023 [41]. - Gross profit for the year ended December 31, 2024, was $29,756,000, compared to $14,591,000 in 2023, representing a 103% increase [41]. - Net income for Q4 2024 was $7,564,000, compared to a net loss of $43,967,000 in Q4 2023 [41]. - Consolidated Adjusted EBITDA for Q4 2024 was $8,994,000, up from $7,090,000 in Q4 2023, indicating a 27% increase [42]. - The company reported earnings per share of $1.04 for Q4 2024, compared to a loss of $5.88 per share in Q4 2023 [41]. - Segment Adjusted EBITDA for the year ended December 31, 2024, was $60,357,000, compared to $25,137,000 in 2023, indicating a significant increase of 139.5% [46]. - Operating profit for the year ended December 31, 2024, was $35,705,000, a recovery from an operating loss of $70,137,000 in 2023 [46]. - The total revenues for the year ended December 31, 2024, were $237,708,000, a decrease from $214,794,000 in 2023, representing a decline of 10.7% [46]. Segment Performance - Coal Mining segment delivered 6,133 thousand tons in 2024, with revenues of $20.4 million, and an operating profit of $2.0 million, a turnaround from a loss of $62.3 million in 2023 [8][9]. - North American Mining segment revenues grew to $34.9 million in 2024, with an operating profit of $0.8 million, compared to an operating loss of $0.6 million in 2023 [12][13]. - North American Mining executed contracts expected to deliver net present value after-tax cash flows of approximately $20 million over terms ranging from 6 to 20 years [21]. - The outlook for the Coal Mining segment customers has improved, with new contracts expected to enhance long-term growth [32]. Cash Flow and Capital Management - The company had consolidated cash of $72.8 million and total debt of $99.5 million as of December 31, 2024 [6]. - In 2024, the company paid $6.6 million in dividends and repurchased approximately 317,000 shares for $9.9 million [7]. - Consolidated capital expenditures are expected to total approximately $58 million in 2025, with significant cash flow generation anticipated [31]. - The company maintains a conservative capital structure while pursuing growth opportunities [33]. Operational Focus - The company is focused on strategic diversification to generate cash for reinvestment or distribution to investors [33]. - The company emphasizes operational excellence and environmental stewardship in its business practices [34]. - Long-lived asset impairment charges for the year ended December 31, 2024, were $0, compared to $65,887,000 in 2023, indicating a significant reduction in impairment losses [46]. - Operating expenses for the year ended December 31, 2024, totaled $70,285,000, compared to $68,614,000 in 2023, reflecting a slight increase of 2.4% [46]. Reporting and Compliance - The Annual Report on Form 10-K has been filed with the SEC, providing detailed financial information [35].