NACCO Industries Inc
NYSE:NC
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NACCO Industries Inc
NACCO Industries, Inc. is a holding company, which engages in the management of surface mines that supply coal to power generation companies. The company is headquartered in Cleveland, Ohio and currently employs 1,600 full-time employees. The firm operates through three business segments: Coal Mining, North American Mining (NAMining) and Minerals Management. The Coal Mining segment operates surface coal mines for power generation companies and an activated carbon producer. The NAMining segment is a mining partner for producers of aggregates, lithium and other minerals. The Minerals Management segment, which includes the Catapult Mineral Partners (Catapult) business, acquires and promotes the development of mineral interests. In addition, Mitigation Resources of North America (Mitigation Resources) provides stream and wetland mitigation solutions. The Company’s subsidiaries include America Lignite Energy LLC, Bellaire Corporation, C&H Mining Company, Inc., Caddo Creek Resources Company, LLC, Camino Real Fuels, LLC, Catapult Mineral Partners, LLC, Centennial Natural Resources, LLC, Coyote Creek Mining Company, LLC, Demery Resources Company, LLC and Mitigate Tennessee, LLC.
NACCO Industries, Inc. is a holding company, which engages in the management of surface mines that supply coal to power generation companies. The company is headquartered in Cleveland, Ohio and currently employs 1,600 full-time employees. The firm operates through three business segments: Coal Mining, North American Mining (NAMining) and Minerals Management. The Coal Mining segment operates surface coal mines for power generation companies and an activated carbon producer. The NAMining segment is a mining partner for producers of aggregates, lithium and other minerals. The Minerals Management segment, which includes the Catapult Mineral Partners (Catapult) business, acquires and promotes the development of mineral interests. In addition, Mitigation Resources of North America (Mitigation Resources) provides stream and wetland mitigation solutions. The Company’s subsidiaries include America Lignite Energy LLC, Bellaire Corporation, C&H Mining Company, Inc., Caddo Creek Resources Company, LLC, Camino Real Fuels, LLC, Catapult Mineral Partners, LLC, Centennial Natural Resources, LLC, Coyote Creek Mining Company, LLC, Demery Resources Company, LLC and Mitigate Tennessee, LLC.
Sequential Profit Recovery: NACCO rebounded from near breakeven in Q2 to an operating profit of $6.8 million in Q3, thanks to improvements across all segments.
Revenue Growth: Q3 revenue rose 24% year-over-year to $76.6 million, with gross profit up 38%.
Insurance Recovery Impact: Year-over-year operating profit and EBITDA declined, mainly due to a $13.6 million insurance recovery benefit in Q3 2024 creating a tough comparison.
Strong Contract Mining Performance: Contract Mining delivered 20% more tons year-over-year and 3% more sequentially, boosting segment results.
Guidance & Outlook: Q4 operating profit expected to be similar to last year, but full-year 2025 profit and EBITDA will be down versus 2024. Management expects meaningful improvement in 2026.
Strategic Growth Initiatives: New contracts, strategic acquisitions, and expansion into infrastructure projects are supporting long-term growth, with a target of $150 million annual EBITDA in 5–7 years.
