Welcome to our dedicated page for NACCO Industries news (Ticker: NC), a resource for investors and traders seeking the latest updates and insights on NACCO Industries stock.
NACCO Industries, Inc. (NYSE: NC), headquartered in Cleveland, Ohio, is a diversified operating holding company engaged in various sectors including mining, small appliances, and specialty retail. The company operates through three main segments: Coal Mining, North American Mining (NA Mining), and Minerals Management. NACCO's chief subsidiary, The North American Coal Corporation, focuses on surface coal mining under long-term contracts with power generation companies. Additionally, it provides value-added mining services for other natural resources companies. In response to the evolving energy landscape, NACCO is diversifying beyond coal mining, addressing the growing demand for cleaner energy sources and sustainable mining practices.
Hamilton Beach Brands, Inc., another prominent subsidiary, is a leading designer, marketer, and distributor of small electric household and specialty housewares appliances. Its products cater to both consumer and commercial markets, including restaurants, bars, and hotels.
The Kitchen Collection, LLC operates as a national specialty retailer of kitchenware, with a presence in outlet and traditional malls across the United States.
In terms of financials, NACCO maintains a strong balance sheet with consolidated cash of $117.0 million and a debt of $23.7 million as of June 30, 2023. The company's conservative capital structure ensures adequate liquidity to navigate evolving trends in the energy market and support strategic growth initiatives.
Among its recent achievements, NACCO is actively involved in the Thacker Pass lithium project through its Sawtooth Mining subsidiary. This initiative reflects the company's commitment to contributing to the lithium supply chain, essential for electric vehicle batteries and renewable energy storage. Additionally, NACCO's Mitigation Resources of North America® continues to expand, focusing on wetland and stream mitigation services, as well as abandoned mine land restoration.
Overall, NACCO is committed to leveraging its core competencies in mining and natural resource management to drive growth and diversification. The company aims to build a robust portfolio of affiliated businesses that deliver long-term value to stockholders while maintaining high standards of safety and environmental stewardship.
NACCO Industries (NYSE: NC) has announced its quarterly dividend declaration. The Board of Directors has approved a regular cash dividend of 22.75 cents per share for both Class A and Class B Common Stock. The dividend will be paid on December 16, 2024 to stockholders of record as of December 2, 2024. NACCO operates in the natural resources sector, providing aggregates, minerals, fuels, and environmental solutions through its NACCO Natural Resources businesses.
NACCO Industries reported strong Q3 2024 results with operating profit of $19.7 million compared to a $6.3 million loss in Q3 2023. Net income reached $15.6 million versus a $3.8 million loss last year. The improvement was primarily driven by $13.6 million in business interruption insurance recoveries and better performance in Coal Mining and Minerals Management segments. At quarter-end, the company had $63.1 million in cash and $70.2 million in total debt. The company repurchased approximately 68,000 shares for $2.0 million and amended its revolving credit facility to increase commitments to $200.0 million with extended maturity to September 2028.
NACCO Industries (NYSE:NC) has announced the release date for its 2024 Third Quarter financial results. The results will be released after market close on Wednesday, October 30, 2024. Following this, the company will host a conference call on Thursday, October 31, 2024, at 8:30 a.m. Eastern Time to discuss the results.
Interested parties can join the call via telephone or webcast. The call-in numbers are (800) 836-8184 for North America (toll-free) and (646) 357-8785 for international callers, with the Conference ID: 49480. A replay will be available until November 7, 2024. The call will also be webcast live on NACCO's Investor Relations website at ir.nacco.com, with an archive available two hours after the live call ends.
NACCO Industries (NYSE: NC) has announced a regular cash dividend of 22.75 cents per share, applicable to both Class A and Class B Common Stock. The dividend will be paid on September 16, 2024, to stockholders of record as of the close of business on September 3, 2024. NACCO Industries operates in the natural resources sector, providing aggregates, minerals, reliable fuels, and environmental solutions through its NACCO Natural Resources businesses.
NACCO Industries (NYSE: NC) reported strong Q2 2024 results, with operating profit increasing to $7.4 million from $1.8 million in Q2 2023. Key highlights include:
- Net income rose to $6.0 million ($0.81/share) from $2.5 million ($0.34/share) in Q2 2023
- Results boosted by improved performance in Coal Mining and North American Mining segments
- $4.5 million gain from sale of legacy land asset in Minerals Management segment
- Coal Mining segment saw significant increase in operating profit and Adjusted EBITDA
- North American Mining revenues grew 29%, with operating profit up 39%
- Company expects continued growth in second half of 2024 across segments
NACCO is pursuing long-term growth and diversification strategies to transform into a broad-based natural resources company, targeting opportunities in mineral interests, mining services, and environmental solutions.
NACCO Industries (NYSE:NC) has announced the release date for its 2024 Second Quarter financial results. The company will publish the results after market close on Wednesday, July 31, 2024. Following this, NACCO will host a conference call on Thursday, August 1, 2024, at 8:30 a.m. Eastern Time to discuss the results.
Investors can join the call via phone or webcast. The call-in numbers are (800) 836-8184 (North America Toll Free) or (646) 357-8785 (International), with Conference ID: 45083. A replay will be available until August 8, 2024. The webcast will be accessible on NACCO's Investor Relations website, with an archive available two hours after the live call ends.
NACCO Industries announced an increase in its quarterly cash dividend from 21.75 cents to 22.75 cents per share, payable to both Class A and Class B Common Stock holders. The new dividend, representing an annual rate of $0.91 per share, will be paid on June 17, 2024, to shareholders of record by the close of business on May 31, 2024.
NACCO Industries announced their first-quarter results for 2024, showing a 162% increase in operating profit, a 28% increase in income before taxes, and a decrease in net income due to higher income tax expenses. The company repurchased shares and maintained a conservative capital structure. The Coal Mining segment saw a decline in revenues and operating results, while the North American Mining segment experienced significant growth. The Minerals Management segment showed increased revenue and profit. The company expects improved results in 2024, focusing on growth and diversification.
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