Form 8-K

8-K — NACCO INDUSTRIES INC

Accession: 0000789933-26-000143

Filed: 2026-08-05

Period: 2026-08-05

CIK: 0000789933

SIC: 1221 (BITUMINOUS COAL & LIGNITE SURFACE MINING)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — nacco-20260805.htm (Primary)

EX-99 (nc6302026earningsreleaseex.htm)

GRAPHIC (naccoindnew2025logoregistea.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: nacco-20260805.htm · Sequence: 1

nacco-20260805

0000789933falseChicago Stock Exchange, Inc.00007899332026-08-052026-08-050000789933exch:XNYS2026-08-052026-08-050000789933exch:XCHI2026-08-052026-08-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

_______________________________________________________________________________________________________________________________________________________________________________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2026

NACCO INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Delaware 1-9172 34-1505819

(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

22901 Millcreek Blvd.

Suite 600

Cleveland, Ohio 44122

(Address of principal executive offices) (Zip code)

(440) 229-5151

(Registrant's telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act

Title of each class

Trading Symbol

Name of each exchange on which registered

Class A Common Stock, $1 par value per share NC New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 5, 2026, NACCO Industries, Inc. (the Company) issued a press release announcing the unaudited financial results for the three and six months ended June 30, 2026, a copy of which is attached as Exhibit 99 to this Current Report on Form 8-K.

The information set forth in Item 2.02 of this Current Report on Form 8-K and the information attached hereto are being furnished by the Company pursuant to Item 2.02 of Form 8-K, insofar as they disclose historical information regarding the Company's results of operations.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

As described in Item 2.02 of this Current Report on Form 8-K, the following Exhibit is furnished as part of this Current Report on Form 8-K.

(d) Exhibits

NACCO Industries, Inc. second quarter ended June 30, 2026 earnings release, dated August 5, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 5, 2026 NACCO INDUSTRIES, INC.

By: /s/ Elizabeth I. Loveman

Elizabeth I. Loveman

Senior Vice President and Controller

EX-99

Filename: nc6302026earningsreleaseex.htm · Sequence: 2

Document

Exhibit 99

NEWS RELEASE 22901 Millcreek Boulevard • Suite 600 • Cleveland, Ohio 44122

Tel. (440) 229-5151

FOR FURTHER INFORMATION, CONTACT:

Christina Kmetko For Immediate Release

(440) 229-5130 Wednesday, August 5, 2026

NACCO INDUSTRIES

ANNOUNCES SECOND QUARTER 2026 RESULTS

Consolidated Q2 2026 Highlights:

•Gross profit of $15.2 million improved 123% over Q2 2025 on 6% revenue increase

•Operating loss of $2.3 million includes $12.0 million of solar asset impairment charges

•Net loss of $1.0 million, or $0.13 per share, versus Q2 2025 net income of $3.3 million, or $0.44 per share

•Adjusted EBITDA of $15.9 million up 72% over Q2 2025; down 3% sequentially

Cleveland, Ohio, Wednesday, August 5, 2026 - NACCO Industries® (NYSE: NC) today announced consolidated results for the three and six months ended June 30, 2026.

"NACCO delivered significant year-over-year improvement in both gross profit and Adjusted EBITDA," said J.C. Butler, NACCO President and Chief Executive Officer. "While consolidated results included asset impairment charges related to solar projects, underlying momentum across our segments during the first half of 2026 remained strong. We expect operating performance to moderate in the second half, but the growth opportunities underway and our disciplined capital criteria give us confidence in our trajectory as we move into 2027. We will continue to focus on executing our business plan, strengthening our balance sheet and creating long-term value for our shareholders."

Three Months Ended

($ in thousands, except per share amounts)

6/30/2026 6/30/2025

Year/Year % Change

3/31/2026

Sequential % Change

Revenues $72,310 $68,235 6% $62,775 15%

Gross profit $15,202 $6,820 123% $14,291 6%

Asset impairment charges $11,984 $— **n/m $— **n/m

Operating profit (loss) $(2,267) $(51) **n/m $11,016 (121)%

Net Income (loss) $(963) $3,260 (130)% $8,836 **n/m

Diluted EPS $(0.13) $0.44 (130)% $1.17 **n/m

Consolidated Adjusted EBITDA*

$15,908 $9,259 72% $16,397 (3)%

*Non-GAAP financial measures are defined and reconciled on page 8. / ** n/m = not meaningful

Strong second-quarter 2026 performance across each reportable segment led to substantial year-over-year improvements in gross profit. This strong operating performance was more than offset by impairment charges related to certain solar development projects within ReGen Resources.

Excluding the effect of the impairment charges, operating results decreased moderately from the first quarter of 2026. The decline was primarily due to lower earnings than anticipated from an equity investment in the Minerals and Royalties segment. In the Coal Mining segment, operational issues at Mississippi Lignite Mining Company's customer's power plant and reduced earnings of unconsolidated mines also contributed to the decline.

Liquidity

At June 30, 2026, the Company had outstanding debt of $120.1 million. Total liquidity was $114.6 million, which consisted of $45.5 million of cash and $69.1 million of availability under our revolving credit facility. Consistent with our focus on balance sheet strength, we are prioritizing the use of free cash flow to enhance liquidity and reduce debt while continuing to fund disciplined, high-return investment opportunities.

Detailed Discussion of 2026 Second Quarter Compared to 2025 Second Quarter

Utility Coal Mining Results

2026 2025

Tons of coal delivered (in thousands)

Unconsolidated operations 4,920 3,736

Consolidated operations 633 890

Total deliveries 5,553 4,626

2026 2025

(in thousands)

Revenues $ 21,477 $ 28,626

Gross profit (loss) $ 373 $ (1,701)

Earnings of unconsolidated operations $ 13,646 $ 11,656

Operating expenses(1)

$ 7,739 $ 8,733

Operating profit

$ 6,280 $ 1,222

Segment Adjusted EBITDA(2)

$ 8,684 $ 3,354

(1) Operating expenses consist of Selling, general and administrative expenses, Amortization of intangible assets and (Gain) loss on sale of assets.

(2) Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP. See non-GAAP explanation and the related reconciliations to GAAP on page 9.

Utility Coal Mining revenues decreased 25% from the prior year. Operational issues at Mississippi Lignite Mining Company's customer's power plant during the 2026 second quarter resulted in a decline in consolidated tons delivered. Favorable contractual pricing partly offset the effect of reduced deliveries.

Despite lower revenues, operating profit and Segment Adjusted EBITDA improved significantly year over year. These gains primarily reflect improved Mississippi Lignite Mining Company results, increased earnings of unconsolidated operations and decreased operating expenses.

Mississippi Lignite Mining Company results benefited from redeploying crews to execute planned reclamation activities during power plant outages. These factors drove a meaningful improvement in gross profit compared with the prior year, when results were affected by a $1.3 million inventory impairment charge.

Earnings of unconsolidated operations improved year over year primarily due to increased customer requirements at Coteau and Coyote Creek.

Contract Mining Results

2026 2025

(in thousands)

Tons delivered 16,013 13,947

2026 2025

(in thousands)

Total revenues

$ 36,919 $ 30,723

Reimbursable costs 20,480 18,503

Revenues excluding reimbursable costs $ 16,439 $ 12,220

Operating profit $ 3,765 $ 1,010

Segment Adjusted EBITDA(1)

$ 6,258 $ 3,927

(1) Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP. See non-GAAP explanation and the related reconciliations to GAAP on page 9.

Second-quarter 2026 results benefited from the commencement and ramp up of a new dragline services contract, reflecting continued progress in the strategic expansion of Contract Mining's business model. This contract combined with increased customer requirements at the limestone mining operations led to a 34% increase in revenues, net of reimbursed costs, and substantial year-over-year increases in both operating profit and Segment Adjusted EBITDA.

Minerals and Royalties Results

2026 2025

(in thousands)

Revenues $ 10,617 $ 7,268

Operating profit $ 6,748 $ 5,205

Segment Adjusted EBITDA(1)

$ 7,692 $ 6,050

(1) Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP. See non-GAAP explanation and the related reconciliations to GAAP on page 9.

Minerals and Royalties revenues, operating profit and Segment Adjusted EBITDA increased primarily due to a 46% increase in royalty revenues. The improvements were primarily driven by higher oil prices and a favorable adjustment to prior period pricing estimates. The revenue growth was partially offset by lower second-quarter 2026 earnings from an equity investment.

Unallocated

2026 2025

(in thousands)

Revenues $ 3,297 $ 1,618

Asset impairment charges $ 11,984 $ —

Operating loss $ (19,060) $ (7,488)

Segment Adjusted EBITDA(1)

$ (6,807) $ (7,291)

(1) Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP. See non-GAAP explanation and the related reconciliations to GAAP on page 9.

Unallocated primarily includes the financial results of Mitigation Resources of North America®, ReGen Resources and other developing businesses that are not directly attributable to our reportable segments, as well as Bellaire Corporation and public company administrative costs.

Unallocated revenues increased over the prior year quarter primarily as a result of higher restoration and reclamation service revenue at Mitigation Resources. The significant increase in the operating loss is due to the impairment charges of $12 million for certain solar development projects within ReGen Resources. Excluding these impairment charges, the Unallocated operating loss and Segment Adjusted EBITDA improved moderately year over year.

Outlook

NACCO Industries is a diversified natural resources company with a unique business model strategically positioned to deliver stable and growing financial returns over the long term. Our business model is purposefully built for durability and resilience with an expanding portfolio of long-term contracts, relationships and investments that leverage our proven operational expertise, disciplined capital allocation and an entrepreneurial yet patient approach. We have methodically built unique capabilities and clear competitive advantages that allow us to pursue a wide range of growth opportunities, often completely integrated into customers’ operations in partnership-based relationships. We have multiple vectors for value creation, and we are steadfastly committed to delivering compounding returns and expanding investor value over the long term.

Our foundation rests on a stable base of long-term coal mining contracts and legacy mineral and royalty assets, which generate dependable recurring cash flows. As new long-term contracts and investments are added across the Company, these new multi-year agreements create a “layering effect" as their contributions compound over time.

While these long-term agreements and investments are intended to strengthen our earnings base over time, we continually evaluate whether individual projects or initiatives remain aligned with our strategic and financial objectives. As part of this process, changing market conditions, regulatory developments and project-specific challenges led us to reassess certain solar investments during the 2026 second quarter. In early July, we began pursuing a range of alternatives, including potential asset sales, contract amendments and other strategic actions, to monetize these investments and reduce our exposure. Depending on the outcome of these activities, additional curtailment costs could be incurred.

Strong first-half 2026 operating performance across our reportable segments is expected to drive year‑over‑year improvements in full-year 2026 Consolidated Adjusted EBITDA, which excludes the solar impairment charges and a $7.8 million pre-tax pension settlement charge recorded in 2025. While we expect Consolidated Adjusted EBITDA to remain strong in the second half of 2026, growth is expected to moderate relative to both the first half of 2026 and prior-year periods.

We also expect second-half consolidated operating profit and net income to decline from first-half 2026 and prior-year levels. Expectations for lower second-half operating profit are primarily driven by potential additional solar project curtailment costs and expected inventory write-downs at Mississippi Lignite Mining Company. Given the effect of the realized and anticipated 2026 charges, we expect full-year operating profit and net income will be significantly lower than in 2025. Comparisons to prior-year net income also reflect a $6.0 million after-tax pension settlement charge recognized in the second half of 2025.

At our Utility Coal Mining segment, operated by North American Coal®, full-year customer demand is expected to be comparable and operating profit is expected to increase year over year due to a shift in focus to reclamation activities in the first half of 2026. During the second half of 2026, customer demand is expected to decline modestly compared with the prior-year period, provided Mississippi Lignite Mining Company's customer's power plant operates as currently planned. Operating results at Mississippi Lignite Mining Company are expected to decline from the first half of 2026, particularly in the third quarter, due to lower customer demand, higher diesel fuel costs and an anticipated inventory impairment charge. A higher contractually determined per ton sales price is anticipated to mitigate the lower demand. Earnings at the unconsolidated mining operations are also expected to decline primarily due to reclamation services at the Sabine Mining Company concluding as of September 30, 2026.

Looking ahead to 2027, overall customer demand for coal is expected to remain consistent with 2026, while profitability is expected to improve. This increase is driven by anticipated improvements at Mississippi Lignite Mining Company if the customer's power plant is able to operate more consistently, as well as continued stable earnings at our unconsolidated operations. Anticipated improved results at the remaining unconsolidated mining locations should mostly offset the absence of reclamation income at the Sabine Mining Company.

The Contract Mining segment, operated by North American Mining®, serves as our mining growth platform. We are building a growing portfolio of long-term contracts through geographic and mineral expansion that are expected to strengthen the foundation for sustained profitability in this segment. In early 2026, we commenced activities under a new dragline services contract as part of a U.S. Army Corps of Engineers construction project in Palm Beach County, Florida. We also anticipate commencing operations at a new limestone quarry in Arizona during fourth-quarter 2026.

Sawtooth Mining, a North American Mining subsidiary, provides exclusive comprehensive mining services at Thacker Pass, which is owned by a joint venture led by Lithium Americas Corp. Sawtooth will supply all of the lithium-bearing ore requirements for our customer's Thacker Pass lithium processing facility, which is currently under construction. This project is providing stable income during construction and is expected to contribute increased income and long-term cash flows as lithium production commences and ramps up to full production, which is targeted for 2028.

As a result of earnings contributions from new contracts, we anticipate substantial year-over-year growth in Contract Mining operating profit and Segment Adjusted EBITDA for both the second half and full year of 2026. Second-half results are expected to moderate from the strong first-half levels as customer demand is projected to decline, primarily in the fourth quarter.

We expect significant operating profit improvement in the Contract Mining segment in 2027. This growth is driven by a full year of the dragline services contract in Palm Beach County, Florida, and contributions from operations at the Arizona quarry as well as potential new deals in the pipeline.

The Minerals and Royalties segment, managed by Catapult Mineral Partners®, has constructed a high-quality, diversified portfolio of oil and gas mineral and royalty interests in the United States. The Catapult team is expanding its portfolio by leveraging a data-driven approach to capital deployment that incorporates a longer-term view of production and development. This segment also holds a meaningful equity investment in Eiger Resources that has working interests in oil and natural gas assets. Anticipated increases in income from Eiger and the benefit of higher oil prices are projected to be more than offset by anticipated production declines and a changing mix of production and development activity. As a result, operating profit and Segment Adjusted EBITDA are expected to decline compared with the first half of 2026 as well as the second-half and full-year 2025. The Minerals and Royalties segment is projected to continue generating meaningful earnings and cash flow in 2027, while operating profit is expected to moderate primarily due to normal production declines and a continuation of the current moderate pace of domestic development activity. Changes in commodity prices or production and development assumptions, including effects of the ongoing Middle East conflict, could alter current expectations.

Mitigation Resources of North America® provides natural resource restoration and reclamation services that include stream and wetland mitigation solutions. Mitigation Resources is successfully leveraging its strong reputation and clear competitive strengths to expand into additional mitigation, restoration and reclamation markets. Mitigation Resources is expected to deliver increasing profitability over time from the sale of mitigation credits and as reclamation and restoration services expand. This business, while currently variable in performance due to permit and project timing, is expected to generate a profit in 2027 and move toward more consistent and improving results over

time as the business expands and its portfolio of mitigation projects matures.

We continue to invest in our businesses to support future growth. Based on the current project pipeline, we anticipate investing up to $35 million in the remainder of the year, primarily for business development opportunities. These expenditures will be made only if projects meet our disciplined capital investment criteria. While we anticipate a moderate year-over-year increase in cash generated from operations, cash flow before financing is projected to remain a use of cash in 2026, reflecting our planned investment activity. We expect full-year 2026 cash flow before financing to improve modestly over 2025, and continue to improve into 2027.

We remain confident in our ability to deliver improving results and increasing cash flow over time. Earnings are expected to benefit from continued expansion in Contract Mining and Mitigation Resources, along with improved operating performance across our other businesses. Looking ahead, as our recent investments mature, they are expected to support sustained earnings growth and stronger cash flow.

Our businesses provide essential inputs for electricity generation, construction and development, and industrial production. As demand for reliable uninterrupted energy continues to grow, natural resources fundamentals remain strong, reinforcing the importance of dependable baseload generation. Recent policy developments, including the re-establishment of the National Coal Council, highlight coal’s ongoing strategic role in supporting grid reliability, economic competitiveness and national security. This development, along with a favorable regulatory environment, reinforces our confidence in our near-term outlook and long-term growth trajectory.

Our conservative approach to maintaining a strong capital structure and operating discipline minimizes risk, while the compounding effect of a growing portfolio of long-term contracts and strategic growth investments create a robust foundation for cash flow growth. With a perspective that spans decades, we are methodically building a strong, stable business that is expected to deliver annuity-like returns. This long-term view allows us to leverage our core skills for strategic, measured expansion and pursue opportunities with longer-term horizons and higher returns. We pursue opportunities that other companies with shorter time horizons might overlook. Our commitment is to generate increasing cash flows and return value to stockholders, whether through reinvestment for growth or direct returns such as share repurchases and payment of dividends. We remain confident in our ability to drive growth, expand our capabilities and reward shareholders over the long run.

****

Conference Call

In conjunction with this news release, the management of NACCO Industries will host a conference call on Thursday, August 6, 2026 at 8:30 a.m. Eastern Time. The call may be accessed by dialing (888) 880-3330 (North America Toll Free) or (646) 357-8766 (International), Conference ID:3241028, or over the Internet through NACCO Industries' website at ir.nacco.com/overview. For those not planning to ask a question of management, the Company recommends listening to the call via the online webcast. Please allow 15 minutes to register, download and install any necessary audio software required to listen to the webcast. A replay of the call will be available shortly after the call ends through August 13, 2026. An archive of the webcast will also be available on the Company's website approximately two hours after the live call ends.

Non-GAAP and Other Measures

This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included in this release are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures

calculated in accordance with U.S. generally accepted accounting principles (GAAP). Adjusted EBITDA and Segment Adjusted EBITDA are provided solely as supplemental non-GAAP disclosures of operating results. Management believes that Adjusted EBITDA and Segment Adjusted EBITDA assist investors in understanding the results of operations of NACCO Industries. In addition, management evaluates results using these non-GAAP measures.

Forward-looking Statements Disclaimer

The statements contained in this news release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Among the factors that could cause plans, actions and results to differ materially from current expectations are, without limitation: (1) a significant reduction in demand by the Company's customers from extended power plant outages, weather conditions or other events that would change the level of customers' coal or aggregates requirements, (2) customer liquidity constraints that could increase exposure to customer credit risk, (3) changes in the prices of hydrocarbons, particularly diesel fuel, natural gas, natural gas liquids and oil as a result of factors such as OPEC and/or government actions, geopolitical developments, economic conditions and regulatory changes, as well as supply and demand dynamics, (4) changes to or termination of customer or other third-party contracts, or a customer or other third party default under a contract, (5) costs to pursue and develop new mining, mitigation, oil and gas and power generation development opportunities and other value-added service opportunities, (6) the ability to successfully evaluate investments and achieve intended financial results in new business and growth initiatives, (7) changes in development plans by third-party lessees of the Company's mineral interests, (8) failure or delays by the Company's lessees in achieving expected production of natural gas and other hydrocarbons; the availability and cost of transportation and processing services in the areas where the Company's oil and gas reserves are located; and the ability of lessees to obtain capital or financing needed for well-development operations and leasing and development of oil and gas reserves on federal lands, (9) any customer's premature facility closure or extended project development delay, (10) federal and state legislative and regulatory actions affecting fossil fuels, (11) supply chain disruptions, including price increases and shortages of parts and materials, inclusive of tariff effects, (12) changes in tax laws or regulatory requirements, including the elimination of, or reduction in, the percentage depletion tax deduction, changes in mining or power plant emission regulations and health, safety or environmental legislation, (13) impairment charges, (14) changes in costs related to geological and geotechnical conditions, repairs and maintenance, new equipment and replacement parts, fuel or other similar items, (15) equipment problems that could affect deliveries to customers, (16) changes in the costs to reclaim mining areas, (17) disruptions from natural or human causes, including severe weather, accidents, fires, earthquakes and terrorist acts, any of which could result in suspension of operations or harm to people or the environment, and (18) the ability to attract, retain, and replace workforce.

About NACCO Industries

NACCO Industries® brings natural resources to life by delivering aggregates, minerals, reliable fuels and environmental solutions through its robust portfolio of NACCO Natural Resources® businesses. Learn more about our companies at nacco.com, or get investor information at ir.nacco.com.

*****

NACCO INDUSTRIES, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

THREE MONTHS ENDED SIX MONTHS ENDED

JUNE 30 JUNE 30

2026 2025 2026 2025

(In thousands, except per share data)

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 — 11,984 —

31,633 20,009 51,479 37,967

Operating profit (loss) (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 — (3,590) — (3,590)

Other, net 332 217 424 520

906 (2,045) 2,095 510

Income (loss) before income tax benefit (3,173) 1,994 6,654 7,121

Income tax benefit (2,210) (1,266) (1,219) (1,039)

Net income (loss) $ (963) $ 3,260 $ 7,873 $ 8,160

Earnings (loss) per share:

Basic earnings (loss) per share $ (0.13) $ 0.44 $ 1.05 $ 1.10

Diluted earnings (loss) per share $ (0.13) $ 0.44 $ 1.04 $ 1.10

Basic weighted average shares outstanding 7,542 7,445 7,508 7,398

Diluted weighted average shares outstanding 7,542 7,445 7,548 7,446

CONSOLIDATED ADJUSTED EBITDA RECONCILIATION (UNAUDITED)

Quarter Ended LTM

6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 6/30/2026

(in thousands)

Net income (loss) $ 3,260 $ 13,254 $ (3,840) $ 8,836 $ (963) $ 17,287

Pension settlement charge — — 7,804 — — 7,804

Asset impairment charges — — — — 11,984 11,984

Income tax provision (benefit) (1,266) (7,297) 3,906 991 (2,210) (4,610)

Interest expense 1,944 1,087 949 1,658 1,620 5,314

Interest income (770) (708) (709) (595) (633) (2,645)

Depreciation, depletion and amortization expense 6,091 6,194 6,199 5,507 6,110 24,010

Consolidated Adjusted EBITDA* $ 9,259 $ 12,530 $ 14,309 $ 16,397 $ 15,908 $ 59,144

*Consolidated Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP measures. NACCO defines Consolidated Adjusted EBITDA as net income (loss) before pension settlement charge, asset impairment charges, income taxes, net interest expense and depreciation, depletion and amortization expense. Consolidated Adjusted EBITDA is not a measure under U.S. GAAP and is not necessarily comparable to similarly titled measures of other companies.

NACCO INDUSTRIES, INC. AND SUBSIDIARIES

FINANCIAL SEGMENT HIGHLIGHTS AND SEGMENT ADJUSTED EBITDA RECONCILIATIONS (UNAUDITED)

Three Months Ended June 30, 2026

Utility Coal Mining Contract Mining Minerals and Royalties Unallocated Items Eliminations Total

(In thousands)

Revenues $ 21,477 $ 36,919 $ 10,617 $ 4,433 $ (1,136) $ 72,310

Cost of sales 21,104 32,045 1,278 3,815 (1,134) 57,108

Gross profit (loss) 373 4,874 9,339 618 (2) 15,202

Earnings (loss) of unconsolidated operations 13,646 1,579 (1,061) — — 14,164

Loss (gain) on sale of assets 122 105 — (22) — 205

Asset impairment charges — — — 11,984 — 11,984

Operating expenses* 7,617 2,583 1,530 7,714 — 19,444

Operating profit (loss) $ 6,280 $ 3,765 $ 6,748 $ (19,058) $ (2) $ (2,267)

Segment Adjusted EBITDA**

Operating profit (loss) $ 6,280 $ 3,765 $ 6,748 $ (19,058) $ (2) $ (2,267)

Depreciation, depletion and amortization 2,404 2,493 944 269 — 6,110

Asset impairment charges — — — 11,984 — 11,984

Segment Adjusted EBITDA** $ 8,684 $ 6,258 $ 7,692 $ (6,805) $ (2) $ 15,827

Three Months Ended June 30, 2025

Utility Coal Mining Contract Mining Minerals and Royalties Unallocated Items Eliminations Total

(In thousands)

Revenues $ 28,626 $ 30,723 $ 7,268 $ 2,223 $ (605) $ 68,235

Cost of sales 30,327 28,659 986 2,051 (608) 61,415

Gross profit (loss) (1,701) 2,064 6,282 172 3 6,820

Earnings (loss) of unconsolidated operations 11,656 1,232 251 (1) — 13,138

(Gain) loss on sale of assets (14) — — 5 — (9)

Operating expenses* 8,747 2,286 1,328 7,657 — 20,018

Operating profit (loss) $ 1,222 $ 1,010 $ 5,205 $ (7,491) $ 3 $ (51)

Segment Adjusted EBITDA**

Operating profit (loss) $ 1,222 $ 1,010 $ 5,205 $ (7,491) $ 3 $ (51)

Depreciation, depletion and amortization 2,132 2,917 845 197 — 6,091

Segment Adjusted EBITDA** $ 3,354 $ 3,927 $ 6,050 $ (7,294) $ 3 $ 6,040

*Operating expenses consist of Selling, general and administrative expenses and Amortization of intangible assets.

**Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP measures. NACCO defines Segment Adjusted EBITDA as operating profit (loss) before asset impairment charges and depreciation, depletion and amortization expense. Segment Adjusted EBITDA is not a measure under U.S. GAAP and is not necessarily comparable with similarly titled measures of other companies.

NACCO INDUSTRIES, INC. AND SUBSIDIARIES

FINANCIAL SEGMENT HIGHLIGHTS AND SEGMENT ADJUSTED EBITDA RECONCILIATIONS (UNAUDITED)

Six Months Ended June 30, 2026

Utility Coal Mining Contract Mining Minerals and Royalties Unallocated Items Eliminations Total

(In thousands)

Revenues $ 38,168 $ 69,558 $ 20,163 $ 9,264 $ (2,068) $ 135,085

Cost of sales 37,054 59,789 2,399 8,427 (2,077) 105,592

Gross profit 1,114 9,769 17,764 837 9 29,493

Earnings (loss) of unconsolidated operations 27,754 3,081 (100) — — 30,735

Loss (gain) on sale of assets 122 100 (1) (22) — 199

Asset impairment charges — — — 11,984 — 11,984

Operating expenses* 15,042 4,997 3,181 16,076 — 39,296

Operating profit (loss) $ 13,704 $ 7,753 $ 14,484 $ (27,201) $ 9 $ 8,749

Segment Adjusted EBITDA**

Operating profit (loss) $ 13,704 $ 7,753 $ 14,484 $ (27,201) $ 9 $ 8,749

Depreciation, depletion and amortization 4,716 4,491 1,831 579 — 11,617

Asset impairment charges — — — 11,984 — 11,984

Segment Adjusted EBITDA** $ 18,420 $ 12,244 $ 16,315 $ (14,638) $ 9 $ 32,350

Six Months Ended June 30, 2025

Utility Coal Mining Contract Mining Minerals and Royalties Unallocated Items Eliminations Total

(In thousands)

Revenues $ 47,865 $ 62,249 $ 18,170 $ 6,623 $ (1,101) $ 133,806

Cost of sales 52,897 57,037 3,230 5,288 (1,120) 117,332

Gross profit (loss) (5,032) 5,212 14,940 1,335 19 16,474

Earnings (loss) of unconsolidated operations 26,119 2,201 805 (1) — 29,124

(Gain) loss on sale of assets (86) — — 5 — (81)

Operating expenses* 16,160 4,433 2,633 14,822 — 38,048

Operating profit (loss) $ 5,013 $ 2,980 $ 13,112 $ (13,493) $ 19 $ 7,631

Segment Adjusted EBITDA**

Operating profit (loss) $ 5,013 $ 2,980 $ 13,112 $ (13,493) $ 19 $ 7,631

Depreciation, depletion and amortization 4,150 5,619 2,753 362 — 12,884

Segment Adjusted EBITDA** $ 9,163 $ 8,599 $ 15,865 $ (13,131) $ 19 $ 20,515

*Operating expenses consist of Selling, general and administrative expenses and Amortization of intangible assets.

GRAPHIC

Filename: naccoindnew2025logoregistea.jpg · Sequence: 7

Binary file (201915 bytes)

Download naccoindnew2025logoregistea.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 9

v3.26.1

Cover Page

Aug. 05, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Aug. 05, 2026

Entity Registrant Name

NACCO INDUSTRIES, INC.

Entity Incorporation, State or Country Code

Entity File Number

1-9172

Entity Tax Identification Number

34-1505819

Entity Address, Address Line One

22901 Millcreek Blvd.

Entity Address, Address Line Two

Suite 600

Entity Address, City or Town

Cleveland,

Entity Address, State or Province

Entity Address, Postal Zip Code

44122

City Area Code

(440)

Local Phone Number

229-5151

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Entity Central Index Key

0000789933

Amendment Flag

false

NEW YORK STOCK EXCHANGE, INC.

Cover [Abstract]

Title of 12(b) Security

Class A Common Stock, $1 par value per share

Trading Symbol

Security Exchange Name

NYSE

Entity Listings [Line Items]

Title of 12(b) Security

Class A Common Stock, $1 par value per share

Trading Symbol

Security Exchange Name

NYSE

NYSE TEXAS, INC.

Cover [Abstract]

Title of 12(b) Security

Class A Common Stock, $1 par value per share

Trading Symbol

Security Exchange Name

CHX

Entity Listings [Line Items]

Title of 12(b) Security

Class A Common Stock, $1 par value per share

Trading Symbol

Security Exchange Name

CHX

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:

dei_EntityListingsLineItems

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Details

Name:

dei_EntityListingsExchangeAxis=exch_XNYS

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

dei_EntityListingsExchangeAxis=exch_XCHI

Namespace Prefix:

Data Type:

Balance Type:

Period Type: