0000789933-19-000030.txt : 20190501 0000789933-19-000030.hdr.sgml : 20190501 20190501170833 ACCESSION NUMBER: 0000789933-19-000030 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190501 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20190501 DATE AS OF CHANGE: 20190501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NACCO INDUSTRIES INC CENTRAL INDEX KEY: 0000789933 STANDARD INDUSTRIAL CLASSIFICATION: HOUSEHOLD APPLIANCES [3630] IRS NUMBER: 341505819 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09172 FILM NUMBER: 19788565 BUSINESS ADDRESS: STREET 1: 5875 LANDERBROOK DR STREET 2: SUITE 220 CITY: CLEVELAND STATE: OH ZIP: 44124-4069 BUSINESS PHONE: 4402295123 MAIL ADDRESS: STREET 1: 5875 LANDERBROOK DR CITY: CLEVELAND STATE: OH ZIP: 44124 8-K 1 dataschedule33120198-k.htm 8-K Document


 
 
 
 
 

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):
May 1, 2019
 
 
 
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.)
 
 
 
5875 LANDERBROOK DRIVE, SUITE 220, CLEVELAND, OHIO
44124-4069
(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))
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 and
Item 7.01 Regulation FD Disclosure.
    
On May 1, 2019, NACCO Industries, Inc. (the “Company”) will post on its website at www.nacco.com additional historical quarterly financial data and update the schedules that were previously posted to the website. A copy of the additional data is attached as Exhibit 99 to this Current Report on Form 8-K.

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 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, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, 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 and 7.01 of this Current Report on Form 8-K, the following Exhibit is furnished as part of this Current Report on Form 8-K.
    






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:
May 1, 2019
 
NACCO INDUSTRIES, INC.
 
 
 
 
 
 
 
 
By:
/s/ Elizabeth I. Loveman
 
 
 
 
Elizabeth I. Loveman
 
 
 
 
Vice President and Controller
 



EX-99 2 dataschedule3312019ex99.htm EXHIBIT 99 Exhibit


 
 
 
 
 
 
 
 
 
 
 
EXHIBIT 99
 
NACCO Industries, Inc. - Consolidated
(in thousands, except percentage data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
31,200

33,681

31,440

39,054

135,375

 
 
 
 
 
 
 
 
2019
40,097

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
9,721

7,802

10,547

15,554

43,624

 
 
 
 
 
 
 
 
2019
16,373

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest (Income) Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
533

450

327

(177
)
1,133

 
 
 
 
 
 
 
 
2019
(322
)
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other (Income) Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
208

(229
)
(438
)
787

328

 
 
 
 
 
 
 
 
2019
(643
)
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income Before Taxes
 
 
Effective income tax rate
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2018
8,980

7,581

10,658

14,944

42,163

 
2018
9.0
%
15.7
%
13.7
%
26.3
%
17.5
%
 
2019
17,338

 
 
 

 
2019
13.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
8,176

6,393

9,200

11,016

34,785

 
 
 
 
 
 
 
 
2019
15,018

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation, depletion and
amortization expense 
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
3,397

3,723

3,815

3,748

14,683

 
 
 
 
 
 
 
 
2019
3,813

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
2,452

6,730

5,450

6,298

20,930

 
 
 
 
 
 
 
 
2019
4,252

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used for) operating activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
(8,029
)
26,725

20,155

15,771

54,622

 
 
 
 
 
 
 
 
2019
(544
)
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash used for investing activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
(2,088
)
(6,192
)
(5,142
)
(4,965
)
(18,387
)
 
 
 
 
 
 
 
 
2019
(4,247
)
 
 
 
 
 
 
 
 
 
 
 
 






NACCO Industries, Inc. - Consolidated
(in thousands, except percentage data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flow before financing activities (1)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

(10,117
)
20,533

15,013

10,806

36,235

 
 
 
 
 
 
 
 
2019

(4,791
)
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash used for financing activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

(8,080
)
(23,984
)
(11,915
)
(8,599
)
(52,578
)
 
 
 
 
 
 
 
 
2019

(1,408
)
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends Paid to Shareholders
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

1,144

1,145

1,144

1,145

4,578

 
 
 
 
 
 
 
 
2019

1,153

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total debt (2)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

50,768

27,983

17,496

11,021

11,021

 
 
 
 
 
 
 
 
2019

12,021

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

224,882

230,972

240,201

250,704

250,704

 
 
 
 
 
 
 
 
2019

264,267

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1
)
Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(2
)
Total debt presented excludes the obligations of the unconsolidated mines. The unconsolidated mines' customers arrange and guarantee the financing of the unconsolidated mines. These obligations are without recourse to and are not guaranteed by North American Coal or NACCO.





 
 
 
 
 
 
 
 
 
 
 
 
 
Coal Mining
(in thousands, except tons of coal delivered)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tons of coal delivered - Unconsolidated mines
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
8.5

8.0

9.8

9.2

35.5

 
 
 
 
 
 
 
2019
8.6

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tons of coal delivered - Consolidated mines
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
0.7

0.8

0.7

0.8

3.0

 
 
 
 
 
 
 
2019
0.6

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
17,597

20,860

18,583

24,509

81,549

 
 
 
 
 
 
 
2019
16,750

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
1,519

792

2,493

6,633

11,437

 
 
 
 
 
 
 
2019
826

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings of unconsolidated operations
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
15,277

15,333

17,004

16,775

64,389

 
 
 
 
 
 
 
2019
15,781

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Operating Expenses
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
8,099

8,227

9,683

11,547

37,556

 
 
 
 
 
 
 
2019
9,002

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
8,697

7,898

9,814

11,861

38,270

 
 
 
 
 
 
 
2019
7,605

 
 
 

 
 
 
 
 
 
 
 
Depreciation, depletion and
amortization expense
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
2,841

3,092

3,097

3,087

12,117

 
 
 
 
 
 
 
2019
2,874

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
576

3,850

2,162

2,893

9,481

 
 
 
 
 
 
 
2019
3,870

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 






 
 
 
 
 
 
 
 
 
 
 
 
 
North American Mining
(in thousands, except tons of limerock delivered)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tons of limerock delivered - Unconsolidated mines
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
1.9

1.6

1.7

1.8

7.0

 
 
 
 
 
 
 
2019
1.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tons of limerock delivered - Consolidated mines
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
10.1

9.4

9.7

9.8

39.0

 
 
 
 
 
 
 
2019
9.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
10,213

9,067

9,092

8,578

36,950

 
 
 
 
 
 
 
2019
10,775

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
847

669

677

1,496

3,689

 
 
 
 
 
 
 
2019
775

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings of unconsolidated operations
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
278

90

137

100

605

 
 
 
 
 
 
 
2019
489

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Operating Expenses
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
491

602

533

750

2,376

 
 
 
 
 
 
 
2019
1,232

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
634

157

281

846

1,918

 
 
 
 
 
 
 
2019
32

 
 
 
 
 
 
 
 
 
 
 
 
Depreciation, depletion and
amortization expense
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
395

427

441

246

1,509

 
 
 
 
 
 
 
2019
545

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
674

2,557

3,121

3,471

9,823

 
 
 
 
 
 
 
2019

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 






 
 
 
 
 
 
 
 
 
 
 
 
 
Minerals Management
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
3,476

3,866

3,902

6,108

17,352

 
 
 
 
 
 
 
2019
12,686

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
3,116

3,466

3,037

5,611

15,230

 
 
 
 
 
 
 
2019
11,860

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Operating Expenses
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
172

254

267

206

899

 
 
 
 
 
 
 
2019
191

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
2,944

3,212

2,770

5,405

14,331

 
 
 
 
 
 
 
2019
11,669

 
 
 
 
 
 
 
 
 
 
 
 
Depreciation, depletion and
amortization expense
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
134

177

250

389

950

 
 
 
 
 
 
 
2019
366

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
1,032

150


224

1,406

 
 
 
 
 
 
 
2019
241