NACCO Industries, Inc. Provides Consolidated Earnings Guidance for the Year 2021
August 04, 2021 at 04:57 pm EDT
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NACCO Industries, Inc. provided consolidated earnings guidance for the year 2021. For the year, the company expects net income to be significantly higher than 2020, with an anticipated effective income tax rate between 13% and 15%, both resulting from the expected termination and release settlements associated with Falkirk and Bisti Fuels and the absence of the prior-year charges totaling $12.1 million. Excluding these items, the Company expects significantly lower net income in 2021 as a result of substantially lower operating profit primarily due to significantly lower earnings in the Coal Mining segment and higher unallocated employee-related and business development costs.
NACCO Industries, Inc. is a holding company. It brings natural resources to life by delivering aggregates, minerals, reliable fuels and environmental solutions through its robust portfolio of NACCO Natural Resources businesses. The Companyâs segments include Coal Mining, North American Mining (NAMining) and Minerals Management. The Coal Mining segment operates surface coal mines for power generation companies. The NAMining segment is a mining partner for producers of aggregates, activated carbon, lithium and other industrial minerals. The Minerals Management segment, which includes the Catapult Mineral Partners (Catapult) business, acquires and promotes the development of mineral interests. Mitigation Resources of North America (Mitigation Resources) provides stream and wetland mitigation solutions. NAMining provides contract mining services for independently owned mines and quarries, creating value for its customers by performing the mining aspects of its customersâ operations.
NACCO INDUSTRIES, INC. 
