Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 106

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 106
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,968 3,781 Gain on sale of assets— — — (4,512)Operating profit $7,968  $6,188 $21,080  $21,709 

Revenues increased 5.2% and 10.6% in the third quarter and the first nine months of 2025, respectively, compared with the 2024 periods, primarily due to an increase in natural gas revenue as a result of higher natural gas prices, partially offset by a decrease in oil revenue as a result of lower oil prices.

The following table identifies the components of change in Operating profit for the third quarter of 2025 compared with the third quarter of 2024:

 Operating Profit 2024$6,188 Increase (decrease) from:Earnings of unconsolidated operations898 Gross profit629 Selling, general and administrative expenses253 2025$7,968 

Operating profit increased by $1.8 million in the third quarter of 2025 compared with the 2024 period, primarily due to improvements in earnings of unconsolidated operations and gross profit. The increase in earnings of unconsolidated operations was primarily related to an additional investment in Eiger Resources during the fourth quarter of 2024. The increase in gross profit was mainly due to higher natural gas prices. 

26

The following table identifies the components of change in Operating profit for the first nine months of 2025 compared with the first nine months of 2024:

 Operating Profit 2024$21,709 Increase (decrease) from:Gain on sale of assets(4,512)Selling, general and administrative expenses(187)Gross profit2,440 Earnings of unconsolidated operations1,630 2025$21,080 

Operating profit decreased by $0.6 million in the first nine months of 2025 compared with the 2024 period, primarily due to the absence of a $4.5 million prior year gain on sale of land. This decrease was partially offset by improvements in gross profit and earnings of unconsolidated operations. The increase in gross profit was mainly due to higher natural gas prices. The increase in earnings of unconsolidated operations was primarily related to an additional investment in Eiger Resources during the fourth quarter of 2024. 

UNALLOCATED ITEMS AND ELIMINATIONS

FINANCIAL REVIEW

Unallocated Items and Elim