[8-K] NACCO Industries, Inc. Reports Material Event

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Senior Bank Analyst

TL;DR: Earnings pressured by securities loss and higher costs; core margin resilient but deposit mix worsening.

Quarterly profitability dropped sharply as a mark-to-market hit on the bond book masked otherwise solid core trends. Net interest income grew despite rising deposit costs, indicating disciplined loan pricing and hedge effectiveness. However, the shift toward time deposits and the 11 % jump in operating expenses hurt the efficiency ratio. Management’s small reserve build and flat NPL metrics suggest benign credit conditions. Longer term, sustained NIM stability and further AOCI recovery could restore ROE, but funding mix bears close watching.

Banking Risk Specialist

TL;DR: Capital and credit steady; market-rate risk and funding cost escalation remain principal threats.

Equity rose and CET1 is likely intact given the 2.3 % capital build, even after a higher dividend. The allowance ratio is unchanged, and no notable credit deterioration is evident. Yet the 8 % surge in time deposits plus reliance on wholesale borrowings boosts sensitivity to future rate hikes. The $4.9 m securities loss underlines exposure to duration risk; further yield curve volatility could impede capital. Overall impact is mixed—financial strength is solid, but earnings headwinds temper the outlook.

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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):

August 6, 2025

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.)

22901 Millcreek Blvd.

Suite 600

Cleveland,

Ohio

44122

(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.

On August 6, 2025, NACCO Industries, Inc. (the Company) issued a press release announcing the unaudited financial results for the six months ended June 30, 2025, a copy of which is attached as Exhibit 99 to this Current Report on Form 8-K.

The information set forth in Item 2.02 of 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 Item 2.02 of 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, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, 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 of this Current Report on Form 8-K, the following Exhibit is furnished as part of this Current Report on Form 8-K.

(d) Exhibits
99						NACCO Industries, Inc. second quarter ended June 30, 2025 earnings release, dated August 6, 2025
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

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:

August 6, 2025

NACCO INDUSTRIES, INC.

By:

/s/ Elizabeth I. Loveman

Elizabeth I. Loveman

Senior Vice President and Controller