NACCO Thank XXXX open the am second morning, overview everyone, of Relations Christina a questions. results call be to and our and welcome then at Investor for quarter for business and our am your you. I brief up I will providing Good Kmetko, responsible Industries. and earnings outlook, quarterly call. I will I
North Officer today Coal; are President of J.C. Loveman, both Vice and American Executive NACCO’s and me Elizabeth Joining Controller. and NACCO Butler, and Chief President
published Yesterday, our filed release website. of second and we XX-Q. earnings our and quarter XXXX our on our results XX-Q available are Copies
be available listen months. For today’s of an entire on anyone for later call, will version our afternoon this approximately is who website able XX and to to archived webcast not this
and we that participants number statements. statements to are begin, subject certain those actual expressed materially this in from conference remarks risks that statements like I prepared a in forward-looking As which to these may not contain quarterly next results statements, to These uncertainties remind to differ could cause would call of made today until the conference We updated during any our either be here all. update forward-looking question-and-answer our if call, obligation at may forward-looking disclaim following the session. or
our these Additional was and release earnings in our and in information forth risks regarding set XX-Q. uncertainties
cover I highlights Now consolidated me for let will first our segment. and our quarter. second provide each XXXX results then the discuss
year second from increased to million prior million our $X.X in profit operating a the basis, XX.X% consolidated On quarter. $X.X
or per up $X million share from income last increased $X.X $X.XX or Our to per consolidated year. share, $X.XX million net
our period, income. rate XXXX. the Management compared net effective of higher Minerals our XX% at segment in increase was For in XX.X% operating the was driver tax profit year-to-date biggest the A significant with income
profit amount our increased mineral profit Operating operated reserve, more and Management in lessees the Mining segment partially of Coal we segments. offset Mining favorability both received. American the because This royalty lower wells the Ohio was Minerals at operating in North income which increased, by
mainly unconsolidated unconsolidated At segment, and the of decrease our Coal to in operations. of a plant profit delivered higher earnings costs customer The in fewer decrease due was primarily earnings outages. as the operating result employee-related tons operations coal a because of Mining decreased
in at consolidated both our However, Lignite at an as operations requirements Mississippi sold the decline ton to improvement from the offset Company operations. customer Mining an unconsolidated reduction coal increase partly resulting cost coal well at as in per a helped
we loss. to We our transfer mentioned that resulted in release certain Centennial were in which parties, $XXX,XXX permits able to third mine
our loss While it loss out, the outlays. will sheet on million not Centennial is and this mine us the balance we reclamation generate the liability reduce $X.X reduction transactions to by in result allowed cash a called future because significant, that of
American At in this North an Mining with year’s segment, last operating our second we operating profit quarter loss quarter. modest compared reported
expenses. well costs significant higher These a an attributable repairs second quarter incremental affecting earnings in contract. higher increase The and loss employee-related factors maintenance and results. the quarter were the included are by supplies as and customer development second offset Those costs partially business new as to
comparisons as well customer for is power as the our year both plant half anticipated decrease to in duration last the second the Coal delivery unconsolidated changes deliveries of including we from levels and experienced the high historically certain operations. this year prior the XXXX turn let outages Now timing of year result of at requirements, of This me to At the to overall in periods. outlook. and decrease Mining expect full segment, year
favorable adjustments and I year, of we million settlement, a reclamation million received mine last we contractual half the second to $X in liabilities. would note to like recognized that in $X.X
expenses prior XXXX results of a we to in these increase because Excluding operating at profit favorable of our half reduction expect operating second the improve and items, in operations. year consolidated
reduction mining lower at operating delivered in improvement. tons offset However, resulting the unconsolidated partially the is from income expected to the profit coal operations
half favorable For as operating full and income the by be year. be despite partially XXXX increase profit year to offset the to expected unconsolidated XXXX segment of the expected comparable Coal at are at the year to operating is XXXX Full expected in Mining improved results excluding consolidated the decrease to XXXX operations. the first items, is the modestly at expenses lower the operations
is of to our the and Operating associated to half this operating are the contracts, of profit XXXX second year and North in from segment, over in offset American expect first profit improve last the half remainder for development the we on but expenses to second expected the half contract an At the earnings spending Mining new continued increase comparable be new year. employee-related with partly forecasted benefit business activities of benefits. to increased
loss North operating the of result lower Mining As XXXX operating to American year than the of significantly full be XXXX. in expects half a XXXX, first profit
North quarter this and new will into should contribute which commence contracts, the development, XXXX. during in two in the of impact on moderately earnings beginning year business in American second have half contracts Mining modest quarter, XXXX. These to entered regard a third new With of the will second
segment’s Management half during Finally, first Minerals increased year. the the our I of mentioned operating significantly previously, profit as
important our expect number income control. the of it dependent income than but comparable For on of outside significantly these Also, period, the for rate earnings as a to substantially to we lower the half XXXX factors royalty of during in royalty note a are remainder realized at of XXXX. over mentioned we first release, expectations increase XXXX, is we the
or XXXX increase whether compared not significant the in of the increase expect exclude in consolidated XXXX half our and the last a year experienced result net favorable an to improvement you the of income increase as year significantly we first in items. Overall, with the the The anticipated net or include mentioned income of year. previously is remainder
tax effective forecasting items, discrete income approximately an rate, excluding XX%. of are We
capital we expect to expenditures activities our cash to million before approximately the we Lastly, $XX the full and be financing consolidated over XXXX expect last increase year. flow for year,
for Before up hand second the We of I call of million me cash sheet questions, and balance information. let with $XX.X quarter debt on the $XX ended provide open some consolidated million.
That the concludes my remarks. questions. prepared I now call your open for will up
