0000789933-20-000019.txt : 20200304 0000789933-20-000019.hdr.sgml : 20200304 20200304171042 ACCESSION NUMBER: 0000789933-20-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200304 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200304 DATE AS OF CHANGE: 20200304 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: 20688259 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 dataschedule123120198-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):
March 4, 2020
 
 
 
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))
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 and
Item 7.01 Regulation FD Disclosure.
    
On March 4, 2020, 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:
March 4, 2020
 
NACCO INDUSTRIES, INC.
 
 
 
 
 
 
 
 
By:
/s/ Elizabeth I. Loveman
 
 
 
 
Elizabeth I. Loveman
 
 
 
 
Vice President and Controller
 



 EX-99 2 dataschedule12312019ex99.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

41,352

32,603

26,938

140,990

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
9,721

7,802

10,547

15,554

43,624

 
 
 
 
 
 
 
 
2019
16,373

9,161

8,663

4,623

38,820

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

450

327

(177
)
1,133

 
 
 
 
 
 
 
 
2019
(322
)
(359
)
(1,648
)
(415
)
(2,744
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other (Income) Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
208

(229
)
(438
)
787

328

 
 
 
 
 
 
 
 
2019
(643
)
(243
)
(1,310
)
361

(1,835
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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

9,763

11,621

4,677

43,399

 
2019
13.4
%
18.3
%
11.7
%
n.m.

8.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
8,176

6,393

9,200

11,016

34,785

 
 
 
 
 
 
 
 
2019
15,018

7,975

10,264

6,375

39,632

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

3,723

3,815

3,748

14,683

 
 
 
 
 
 
 
 
2019
3,813

4,238

4,044

4,145

16,240

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018
2,452

6,730

5,450

6,298

20,930

 
 
 
 
 
 
 
 
2019
4,252

1,715

7,297

11,400

24,664

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
)
22,632

25,176

5,520

52,784

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
)
(1,705
)
(2,857
)
(11,453
)
(20,262
)
 
 
 
 
 
 
 
 





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
)
20,927

22,319

(5,933
)
32,522

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash (used for) provided by financing activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

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

(1,408
)
(1,562
)
(5,681
)
13,764

5,113

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends Paid to Shareholders
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

1,144

1,145

1,144

1,145

4,578

 
 
 
 
 
 
 
 
2019

1,153

1,327

1,328

1,324

5,132

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total debt (2)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

50,768

27,983

17,496

11,021

11,021

 
 
 
 
 
 
 
 
2019

12,021

12,002

7,678

24,943

24,943

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2018

224,882

230,972

240,201

250,704

250,704

 
 
 
 
 
 
 
 
2019

264,267

272,150

283,255

289,392

289,392

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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

6.9

8.7

7.8

32.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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

0.9

0.7

0.4

2.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
17,597

20,860

18,583

24,509

81,549

 
 
 
 
 
 
 
2019
16,750

22,570

18,799

10,582

68,701

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit (Loss)
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
1,519

792

2,493

6,633

11,437

 
 
 
 
 
 
 
2019
826

1,316

2,416

(1,287
)
3,271

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

15,333

17,004

16,775

64,389

 
 
 
 
 
 
 
2019
15,781

13,529

16,211

15,157

60,678

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Operating Expenses
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
8,099

8,227

9,683

11,547

37,556

 
 
 
 
 
 
 
2019
9,002

10,152

11,286

10,241

40,681

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
8,697

7,898

9,814

11,861

38,270

 
 
 
 
 
 
 
2019
7,605

4,693

7,341

3,629

23,268

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

3,092

3,097

3,087

12,117

 
 
 
 
 
 
 
2019
2,874

3,276

3,102

3,157

12,409

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
576

3,850

2,162

2,228

8,816

 
 
 
 
 
 
 
2019
2,740

1,511

2,291

8,550

15,092

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





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

1.6

1.7

1.8

7.0

 
 
 
 
 
 
 
2019
1.9

2.5

1.7

2.2

8.3

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

9.4

9.7

9.8

39.0

 
 
 
 
 
 
 
2019
9.8

9.3

8.5

8.8

36.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
10,213

9,067

9,092

8,578

36,950

 
 
 
 
 
 
 
2019
10,775

10,728

8,993

12,327

42,823

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit (Loss)
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
634

157

281

846

1,918

 
 
 
 
 
 
 
2019
32

(483
)
(391
)
146

(696
)
 
 
 
 
 
 
 
 
Depreciation, depletion and
amortization expense
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
395

427

441

246

1,509

 
 
 
 
 
 
 
2019
545

566

588

524

2,223

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
674

2,557

3,121

3,471

9,823

 
 
 
 
 
 
 
2019
1,129

113

4,971

2,611

8,824

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





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

3,866

3,902

6,108

17,352

 
 
 
 
 
 
 
2019
12,686

8,242

5,022

4,169

30,119

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
2,944

3,212

2,770

5,405

14,331

 
 
 
 
 
 
 
2019
11,669

6,789

3,900

3,363

25,721

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

177

250

389

950

 
 
 
 
 
 
 
2019
366

367

324

305

1,362

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
2018
1,032

150

—

224

1,406

 
 
 
 
 
 
 
2019
241

50

—

226

517