TTM ended 6/30/2026
Filed Aug 31, 2026TTM ended June 30, 2026 consolidated adjusted EBITDA was $59,144, compared with $56,767 in the TTM ended 6/30/2025, while net income was $17,287 versus $31,359.
Consolidated adjusted EBITDA increased to $59,144 from $56,767, supported by Contract Mining and Minerals and Royalties, but GAAP net income declined to $17,287 from $31,359 amid $11,984 of asset impairment charges and a $7,804 pension settlement charge. Management also cited delayed mitigation credit releases, removed solar development revenues from its return profile, and expressed greater caution on Mississippi Lignite Mining Company.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net Income ($ in thousands)GAAP | $17,287 | – | – |
| Asset impairment charges ($ in thousands)GAAP | 11,984 | – | – |
| Pension settlement charge ($ in thousands)GAAP | 7,804 | – | – |
| Income tax benefit ($ in thousands)GAAP | (4,610) | – | – |
| Interest expense ($ in thousands)GAAP | 5,314 | – | – |
| Interest income ($ in thousands)GAAP | (2,645) | – | – |
| Depreciation, depletion and amortization expense ($ in thousands)GAAP | 24,010 | – | – |
| Consolidated Adjusted EBITDA ($ in thousands)non-GAAP | $59,144 | – | – |
| Consolidated Operating Profit ($ in thousands)GAAP | $23,099 | – | – |
| Utility Coal Mining Operating Profit ($ in thousands)GAAP | $25,846 | – | – |
| Contract Mining Operating Profit ($ in thousands)GAAP | $10,540 | – | – |
| Minerals and Royalties Operating Profit ($ in thousands)GAAP | $30,480 | – | – |
| Unallocated Items Operating Loss ($ in thousands)GAAP | $(43,670) | – | – |
| Eliminations Operating Loss ($ in thousands)GAAP | $(97) | – | – |
| Utility Coal Mining Segment Adjusted EBITDA ($ in thousands)non-GAAP | $35,227 | – | – |
| Contract Mining Segment Adjusted EBITDA ($ in thousands)non-GAAP | $20,266 | – | – |
| Minerals and Royalties Segment Adjusted EBITDA ($ in thousands)non-GAAP | $34,137 | – | – |
| Unallocated Items Segment Adjusted EBITDA ($ in thousands)non-GAAP | $(30,440) | – | – |
| Eliminations Segment Adjusted EBITDA ($ in thousands)non-GAAP | $(97) | – | – |
| Consolidated Segment Adjusted EBITDA ($ in thousands)non-GAAP | 59,093 | – | – |
| Other income, net ($ in thousands)GAAP | 51 | – | – |
2026+ outlook
- NoteExpected recurring EBITDA of $50M from current businesses
- NoteProjects signed in 2025 expected to add $11M of annual EBITDA, starting in 2026
- NoteEcological Solutions expected to achieve profitability in 2027
- Note$20M annual investment target
Capital returns
- Consistent dividend payments since 1956
- 4% increase in 2026
- approximately 33% over last 5 years
- ~$105 Million Capital Deployed since 2020
What drove it
- Contract Mining operating profit was $10,540 in the TTM ended 6/30/2026, compared with $3,312 in the TTM ended 6/30/2025.
- Minerals and Royalties operating profit was $30,480 in the TTM ended 6/30/2026, compared with $26,518 in the TTM ended 6/30/2025.
- The presentation states that new end markets were identified and that dragline and Arizona quarry contracts commenced.
- The Minerals and Royalties equity investment was described as performing, while commodity assumptions remain the swing factor.
- The Company stated that North Dakota utility coal mining profitability improved.
Concerns
- Asset impairment charges were 11,984 and the pension settlement charge was 7,804 in the TTM ended 6/30/2026.
- Unallocated Items operating loss was $(43,670), compared with $(25,602) in the TTM ended 6/30/2025.
- Permit delays deferred mitigation credit releases, with management stating that this deferred revenues into later years.
- Changing market and regulatory dynamics eliminated anticipated solar development revenues from the return profile.
- Management described itself as more cautious on Mississippi Lignite Mining Company because of variable plant availability and contractual price mechanics.
- Mississippi Lignite Mining Company performance is linked to Red Hills Power Plant performance, TVA dispatch and coal demand, pricing mechanics, inventory costing and customer collectibility.
What to watch
- Progress toward expected recurring EBITDA of $50M from current businesses.
- Timing of the $11M of annual EBITDA expected from projects signed in 2025, starting in 2026.
- Ecological Solutions' path to expected profitability in 2027 and the timing of mitigation credit releases.
- Red Hills Power Plant performance, TVA dispatch, coal demand and pricing at Mississippi Lignite Mining Company.
- The balance-sheet focus on enhancing liquidity, reducing debt and selectively funding higher-return opportunities.
- Contract Mining geographic and mineral expansion, including the Florida Everglades dragline excavation services contract.
Balance sheet and cash flow
- $45.5M Cash as of June 30, 2026
- $69.1M Amount Available Under Revolving Credit Facility as of June 30, 2026
- $114.6M Total Liquidity as of June 30, 2026
- $120.1M Total Debt as of June 30, 2026
Analysis
The filing is an August 2026 investor presentation rather than a conventional quarterly earnings release. Its primary reported financial comparison covers the TTM ended June 30, 2026. Consolidated adjusted EBITDA was $59,144, compared with $56,767 in the TTM ended June 30, 2025. GAAP net income was $17,287, compared with $31,359, while consolidated operating profit was $23,099 versus $31,213. The lower GAAP result coincided with $11,984 of asset impairment charges and a $7,804 pension settlement charge.
The operating mix shows strong contributions from the growth platforms. Contract Mining operating profit was $10,540, compared with $3,312, and its segment adjusted EBITDA was $20,266, compared with $14,052. Minerals and Royalties operating profit was $30,480, compared with $26,518, and its segment adjusted EBITDA was $34,137, compared with $31,228. Utility Coal Mining remained a substantial contributor, with operating profit of $25,846 and segment adjusted EBITDA of $35,227, compared with $26,974 and $35,490, respectively.
The principal offset was corporate and other costs. Unallocated Items operating loss was $(43,670), compared with $(25,602), and Unallocated Items segment adjusted EBITDA was $(30,440), compared with $(24,731). The reconciliation also shows depreciation, depletion and amortization expense of 24,010, compared with 24,837; interest expense of 5,314, compared with 6,862; and interest income of (2,645), compared with (3,898).
Management's long-term framework calls for expected recurring EBITDA of $50M from current businesses, with projects signed in 2025 expected to add $11M of annual EBITDA starting in 2026. The opportunity set has been reweighted: Contract Mining and Minerals and Royalties were characterized as steady to better, whereas permit delays shifted mitigation credit sales into later years and solar development was removed from expectations. Ecological Solutions is expected to achieve profitability in 2027.
Capital allocation is centered on liquidity, debt reduction and selective investment. As of June 30, 2026, the presentation reported $45.5M of cash, $69.1M available under the revolving credit facility, $114.6M of total liquidity and $120.1M of total debt. NACCO also cited a 4% dividend increase in 2026 and approximately 33% dividend growth over the last 5 years. The key execution issues are mitigation-project timing, the performance of Mississippi Lignite Mining Company and Red Hills Power Plant, and the ability of the newer natural-resource platforms to add recurring EBITDA while the Company manages balance-sheet priorities.
Not in the filing
stated, not guessed- Consolidated revenue for the TTM ended 6/30/2026 and TTM ended 6/30/2025
- Segment revenue for Utility Coal Mining, Contract Mining, Minerals and Royalties, and Ecological Solutions
- Revenue growth rates
- Gross profit and gross margin
- GAAP diluted EPS and non-GAAP diluted EPS
- Operating cash flow
- Free cash flow
- Capital expenditures
- Share repurchases
- Dividend per share
- Debt maturity schedule
- Quarterly financial results and quarterly period end
- Current-period revenue, margin, operating-expense, and tax-rate guidance
- Named executive commentary or attributable executive quotes
- Previous outlook for comparison
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.