NACCO Industries, Inc. provided earnings guidance for the quarter and full year of 2023 and full year 2024. The Company expects that fourth-quarter 2023 improvements will produce operating profit and net income compared with consolidated third-quarter losses. However, fourth-quarter and full-year 2023 consolidated operating results are expected to be down significantly from the respective prior-year periods due to substantial decreases at the Coal Mining and Minerals Management segments. These reductions are expected to be partially offset by favorable changes in income taxes leading to modest net income for the 2023 full year.

In 2024, the Company expects a significant increase in consolidated net income over 2023. These improvements are primarily due to increased profitability at the Coal Mining segment from improved results at Mississippi Lignite Mining Company, Falkirk and Coteau. Growth at North American Mining and Mitigation Resources is also expected to contribute to the higher 2024 net income.