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Did NACCO Industries beat or miss consensus estimates last quarter?

- **Q3 EBITDA up 35% YoY to $12.5 million**
- **Contract Mining segment tonnage +20% YoY, Florida embankment project secured**
- **2026 EBITDA target $70 million, debt reduced to $80 million**
- **MLMC operating profit to improve in 2026 with contract pricing mechanics**
- **New MTECK dragline projects driving 2026 growth**

**【CEO Summary Section】**
- Third quarter operating profit improved to $6.7 million, up from breakeven in Q2, driven by sequential EBITDA growth to $12.5 million. 
- Contract Mining segment saw 20% YoY tonnage growth and 3% sequential improvement in operating profit. 
- New Florida embankment project secured with MTECK draglines, expected to contribute $4.2 million in EBITDA by Q2 2026. 
- Mississippi Lignite Mining Company (MLMC) operating profit expected to improve in 2026 due to contract pricing mechanics. 
- Minerals and Royalties segment completed $4.2 million Midland Basin acquisition, expanding mineral interests. 

**【CFO Financial Commentary】**
- Consolidated revenue $76.6 million (+24% YoY), operating profit $6.7 million. 
- Contract Mining segment EBITDA $12.5 million (+35% YoY). 
- Mississippi Lignite Mining Company (MLMC) operating profit $13.3 million, down 15% YoY due to contractually determined pricing. 
- 2026 outlook: $44 million capital spend, $70 million 2026 EBITDA target. 
- Debt reduced to $80.2 million, $152 million liquidity. 

**【Q&A Highlights】**
- Contract Mining segment ROIC below target due to long-term project timing (e.g., Sawtooth mine, Florida embankment project). 
- 2026 EBITDA target $70 million, driven by new contracts and operational efficiency. 
- Solar projects in development pipeline for tax credit eligibility. 
- Utility Coal Mining segment 2026 outlook: improved pricing mechanics and cost control. 
- Unallocated expenses up due to medical costs, share-based compensation, and business development. 
- 2026 EBITDA target $70 million, driven by new contracts and operational efficiency. 
- Pension plan termination expected in Q4 2025, triggering non-cash settlement charge. 


NACCO Industries, Inc. (NC) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

NC

NC fundamentals

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