Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 73

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 to retain federal investment tax credits. We have approximately $7.2 million of capitalized assets associated with our solar projects. We have incurred, and will continue to incur, costs in connection with these projects and the results of operations and/or return on investment could be lower than anticipated.

The United States has recently enacted and proposed to enact significant new tariffs. Additionally, President Trump has directed various federal agencies to further evaluate key aspects of U.S. trade policy and there has been ongoing discussion and commentary regarding potential significant changes to U.S. trade policies, treaties and tariffs. There continues to exist significant uncertainty about the future relationship between the U.S. and other countries with respect to such trade policies, treaties and tariffs. These developments, or the perception that any such policies, treaties or tariffs could be implemented, could restrict our access to suppliers and increase the cost of equipment and supplies imported into the U.S.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

Refer to the discussion of our Critical Accounting Policies and Estimates as disclosed on pages 50 through 51 in our Annual Report on Form 10-K for the year ended December 31, 2024. Our Critical Accounting Policies and Estimates have not materially changed since December 31, 2024.

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CONSOLIDATED FINANCIAL SUMMARY

Our results of operations were as follows for the three and nine months ended September 30:

THREE MONTHSNINE MONTHS 2025 20242025 2024Revenues:   Utility Coal Mining$19,654 $17,706 $67,519 $48,247    Contract Mining45,611 32,326 107,860 84,729    Minerals and Royalties9,313 8,849 27,483 24,843    Unallocated Items2,958 3,745 9,581 11,573    Eliminations(922)(970)(2,023)(2,102)Total revenue$76,614  $61,656 $210,420 $167,290 Operating profit (loss):   Utility Coal Mining$4,987  $19,938 $10,000 $22,288    Contract Mining1,929  (474)4,909 4,966    Minerals and Royalties7,968 6,188 21,080 21,709    Unallocated Items(8,071)(5,912)(21,