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EBITDA, which excludes the $3.9 million impairment charge from third quarter 2022 and $10.3 million contract termination fee from third quarter 2021, decreased primarily as a result of lower earnings in the Coal Mining segment and higher unallocated employee-related expenses, partly offset by improved earnings in the Minerals Management segment and income from an equity interest in a North Dakota-based ethanol business. Non-GAAP financial measures are defined and reconciled on pages 10 to 12

NACCO INDUSTRIES ANNOUNCES THIRD QUARTER 2022 RESULTS

NACCO Industries® (NYSE: NC) today announced consolidated operating profit of $9.8 million and net income of $10.6 million, or $1.45 per diluted share, for the third quarter of 2022 compared with consolidated operating profit of $27.6 million and net income of $24.8 million, or $3.47 per diluted share, for the third quarter of 2021. Comparisons in this news release are to the three months ended September 30, 2021, unless otherwise noted

By AP News
Published - Nov 02, 2022, 07:08 PM ET
Last Updated - Mar 18, 2024, 10:54 AM EDT

CLEVELAND, Nov. 2, 2022 /PRNewswire/ --Third Quarter NACCO Consolidated Highlights:

  • Consolidated operating profit of $9.8 million versus $27.6 million in Q3 2021
    - Q3 2022 includes non-cash asset impairment charge of $3.9 million and voluntary retirement program charge of $0.8 million
    - Q3 2021 included $10.3 million Bisti Fuels contract termination fee
  • Consolidated net income decreased to $10.6 million, or $1.45/share, versus $24.8 million, or $3.47/share, in Q3 2021
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