Nacco industries, inc. provides earnings guidance for the fourth quarter and full year of 2019; provides earnings guidance for the year 2020

Nacco industries, inc. provided earnings guidance for the fourth quarter and full year of 2019. for the quarter, the company significant decrease in both operating profit and net income in the fourth quarter of 2019 compared with the fourth quarter of 2018 primarily as a result of the favorable prior year items noted previously.  excluding these items, operating profit is expected to decrease moderately mainly due to the substantial decrease in minerals management's and north american mining's results, partly offset by a modest improvement in earnings at the coal mining segment.  despite this decrease, net income is expected to increase primarily due to an anticipated lower effective income tax rate in the 2019 fourth quarter compared with the prior year.for the year, the company consolidated net income is expected to increase significantly compared with 2018, including or excluding the favorable prior year items. the anticipated improvement in net income is primarily due to higher earnings in the minerals management segment and the receipt of $2.7 million pre-tax associated with a prior india venture. in the year 2020, the company expects net income to decrease moderately compared with 2019, primarily in the first half of the year. an anticipated reduction in earnings in the minerals management segment is expected to be partially offset by improvements in earnings in the coal mining and north american mining segments.
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