Company: NC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000789933-25-000041
Chunk: 44

Company: NACCO INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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230 2,865 Gross profit 6,282 4,092 14,940 13,129 Earnings from unconsolidated operations251 138 805 73 Selling, general and administrative expenses1,328 1,151 2,633 2,193 Gain on sale of assets— (4,512)— (4,512)Operating profit $5,205  $7,591 $13,112  $15,521 

Revenues increased 29.9% and 13.6% in the second quarter and the first six 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 decreased production volumes.

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

 Operating Profit 2024$7,591 Increase (decrease) from:Gain on sale of assets(4,512)Selling, general and administrative expenses(177)Gross profit2,190 Earnings of unconsolidated operations113 2025$5,205 

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

 Operating Profit 2024$15,521 Increase (decrease) from:Gain on sale of assets(4,512)Selling, general and administrative expenses(440)Gross profit1,811 Earnings of unconsolidated operations732 2025$13,112 

Operating profit decreased $2.4 million in both the second quarter and the first six months of 2025 compared with 2024 periods, primarily due to the absence of a $4.5 million prior year gain on sale of land. These decreases were partially offset by improvements in gross profit due to higher natural gas prices. 

26

UNALLOCATED ITEMS AND ELIMINATIONS

FINANCIAL REVIEW

Unallocated Items and Eliminations were as follows for the three and six months ended June 30:

THREE MONTHSSIX MONTHS 2025 20242025 2024Operating loss$(7,488) $(6,077)$(13,474)$(11,188)

The operating loss increased in the second quarter and first six