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NACCO INDUSTRIES INC

CIK:0000789933|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 72,310	$ 68,235	$ 135,085	$ 133,806
Cost of sales	57,108	61,415	105,592	117,332
Gross profit	15,202	6,820	29,493	16,474
Earnings of unconsolidated operations	14,164	13,138	30,735	29,124
Operating expenses
Selling, general and administrative expenses	19,248	19,773	38,949	37,641
Amortization of intangible assets	196	245	347	407
Loss (gain) on sale of assets	205	(9)	199	(81)
Asset impairment charges	11,984	0	11,984	0
Operating expenses	31,633	20,009	51,479	37,967
Operating (loss) profit	(2,267)	(51)	8,749	7,631
Other expense (income)
Interest expense	1,620	1,944	3,278	3,718
Interest income	(633)	(770)	(1,228)	(1,635)
Closed mine obligations	445	503	934	976
(Gain) loss on equity securities	(858)	(349)	(1,313)	521
Gain on settlement of excess funding liability	0	(3,590)	0	(3,590)
Other, net	332	217	424	520
Other (income) expense	906	(2,045)	2,095	510
(Loss) income before income tax benefit	(3,173)	1,994	6,654	7,121
Income tax benefit	(2,210)	(1,266)	(1,219)	(1,039)
Net (loss) income	$ (963)	$ 3,260	$ 7,873	$ 8,160
(Loss) earnings per share:
Basic (loss) earnings per share (in dollars per share)	$ (0.13)	$ 0.44	$ 1.05	$ 1.10
Diluted (loss) earnings per share (in dollars per share)	$ (0.13)	$ 0.44	$ 1.04	$ 1.10
Basic weighted average shares outstanding (in shares)	7,542	7,445	7,508	7,398
Diluted weighted average shares outstanding (in shares)	7,542	7,445	7,548	7,446

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net cash provided by (used for) operating activities	$ 20,673	$ (2,753)
Investing activities
Expenditures for property, plant and equipment and acquisition of mineral interests	(41,921)	(11,950)
Proceeds from the sale of assets	24	120
Contributions to equity method investment	(2,733)	0
Return of equity method investments	4,448	0
Other	(17)	795
Net cash used for investing activities	(40,199)	(11,035)
Financing activities
Net additions (reductions) to revolving credit agreement	20,000	(5,000)
Reductions to long-term debt	(2,353)	(2,321)
Cash dividends paid	(3,882)	(3,570)
Purchase of treasury shares	0	(695)
Net cash provided by (used for) financing activities	15,341	(9,643)
Cash and cash equivalents
Total decrease for the period	(4,185)	(23,431)
Balance at the beginning of the period	49,708	72,833
Balance at the end of the period	45,523	49,402
Affiliated Entity
Financing activities
Additions to note payable to affiliate	$ 1,576	$ 1,943

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 45,523	$ 49,708
Oil and natural gas receivables	9,073	7,978
Prepaid profit sharing	8,319	11,529
Inventories	61,076	63,648
Assets held for sale	19,883	12,774
Prepaid insurance	235	5,546
Other current assets	20,234	13,882
Total current assets	209,248	214,892
Property, plant and equipment, net	299,034	287,546
Intangibles, net	4,378	4,725
Mining supplies inventory	43,304	34,795
Deferred income taxes	16,333	14,001
Operating lease right-of-use assets	8,385	9,595
Equity securities	19,121	17,696
Other non-current assets	33,634	29,505
Total assets	677,487	661,228
LIABILITIES AND EQUITY
Current maturities of long-term debt	8,596	9,080
Asset retirement obligations	8,018	8,185
Accrued payroll	14,007	19,863
Excess funding liability	0	5,450
Other current liabilities	10,512	10,299
Total current liabilities	63,493	69,615
Long-term debt	16,522	16,815
Long-term revolving credit agreements	95,000	75,000
Operating lease liabilities	6,960	7,950
Asset retirement obligations	34,544	39,516
Retirement benefit plans	4,348	4,558
Deferred revenue	12,674	10,593
Other long-term liabilities	7,808	7,938
Total liabilities	241,349	231,985
Common stock:
Capital in excess of par value	45,116	42,427
Retained earnings	385,121	381,130
Accumulated other comprehensive loss	(1,646)	(1,741)
Total stockholders' equity	436,138	429,243
Total liabilities and equity	677,487	661,228
Unconsolidated Subsidiaries
ASSETS
Investments in unconsolidated subsidiaries and Equity method investment in Eiger Resources	14,792	14,750
Eiger, LLC
ASSETS
Investments in unconsolidated subsidiaries and Equity method investment in Eiger Resources	29,258	33,723
Nonrelated Party
ASSETS
Trade accounts receivable and accounts receivable from affiliates	34,728	42,921
LIABILITIES AND EQUITY
Accounts payable and accounts payable to affiliates	22,279	16,060
Affiliated Entity
ASSETS
Trade accounts receivable and accounts receivable from affiliates	10,177	6,906
LIABILITIES AND EQUITY
Accounts payable and accounts payable to affiliates	81	678
Class A Common Stock
Common stock:
Common stock	5,985	5,864
Class B Common Stock
Common stock:
Common stock	$ 1,562	$ 1,563