Earnings Labs

NACCO Industries, Inc. (NC)

Q2 2016 Earnings Call· Wed, Aug 3, 2016

$49.59

-0.84%

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Transcript

Operator

Operator

Good morning. My name is Tracy and I will be your conference operator today. At this time, I'd like to welcome everyone to the NACCO Industries, Inc. 2016 Second Quarter Earnings Conference Call. [Operator Instructions] Thank you. Ms. Christina Kmetko, you may begin your conference.

Christina Kmetko

Analyst

Thank you. Good morning, everyone, and welcome to our 2016 second quarter earnings call. I am Christina Kmetko, and I am responsible for Investor Relations at NACCO Industries. I will be providing a brief overview of our quarterly results and business outlook, and then I will open up the call for your questions. Joining me on today's call are Al Rankin, Chairman, President, and Chief Executive Officer; J.C. Butler, our Senior Vice President Finance, Treasurer, and Chief Administrative Officer, as well as the President and Chief Executive Officer of our North American Coal subsidiary; and Elizabeth Loveman, NACCO's Vice President and Controller. Yesterday, we published our second quarter 2016 results and filed our 10-Q for the quarter ended June 30, 2016. Copies of our earnings release and Q are available on our website at NACCO.com. For anyone who is not able to listen to today's entire call, an archived version of this webcast will be on our website later this afternoon and available for approximately 12 months. As we begin, I would like to remind participants that this conference call may contain certain forward-looking statements. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements made here today, in either our prepared remarks or during the following question-and-answer session. We disclaim any obligation to update these forward-looking statements, which may not be updated until our next quarterly conference call, if at all. Additional information regarding these risks and uncertainties was set forth in our earnings release and in our 10-Q. Also, certain amounts discussed during today's call are considered non-GAAP. The non-GAAP reconciliations of these amounts are included in our 2016 second quarter earnings release available on our website. Now, let me discuss our…

Operator

Operator

[Operator Instructions] Your first question comes from the line of Michael Fisherman with Zuckerman Investment.

Michael Fisherman

Analyst

On the first quarter press release for Hamilton Beach, the company talked about net income for 2016 increasing year over year. First half was up 18% and now you're guiding to up substantially in the second half. Is it fair to assume that you're raising your expectations for this segment for the full year?

Alfred Rankin

Analyst

I think that's what we've said, yes.

Michael Fisherman

Analyst

Can you elaborate on just what's different versus your expectations today versus three months ago?

Alfred Rankin

Analyst

We had more sales volume.

Operator

Operator

[Operator Instructions] There are no further questions at this time. Ms. Kmetko, I’d turn the call over to you.

Christina Kmetko

Analyst

Okay. Al, did you have anything?

Alfred Rankin

Analyst

No, I don’t have any closing comments.

Christina Kmetko

Analyst

Okay. Thank you for joining us today. We appreciate your interest. And if you do have any additional questions, you can reach me at 440-229-5130. Have a great day.

Operator

Operator

The replay will be available two hours after the call has ended. Please dial 800-585-8367 or 855-859-2056 or internationally on 404-537-3406 and enter the passcode 28584079 to listen. The call will be available until August 10, 2016 end of day. This concludes today's conference call. You may now disconnect.