Company: NC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000789933-25-000041
Chunk: 79

Company: NACCO INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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13,947 16,000 26,800 31,173 

23

The results of operations for the Contract Mining segment were as follows for the three and six months ended June 30:

THREE MONTHSSIX MONTHS 2025 20242025 2024Total revenues $30,723  $27,920 $62,249 $52,403 Reimbursable costs18,503 16,043 38,050 28,898 Revenues excluding reimbursable costs$12,220 $11,877 $24,199 $23,505 Total revenues $30,723 $27,920 $62,249 $52,403 Cost of sales 28,659 24,254 57,037 45,925 Gross profit 2,064 3,666 5,212 6,478 Earnings of unconsolidated operations(a)1,232 1,448 2,201 2,813 Selling, general and administrative expenses2,286 2,030 4,433 3,853 Gain on sale of assets— (1)— (2)Operating profit$1,010  $3,085 $2,980  $5,440 

(a) See Note 6 to the Unaudited Condensed Consolidated Financial Statements for a discussion of our unconsolidated subsidiaries.

Second Quarter of 2025 Compared with Second Quarter of 2024

Total revenues increased in the second quarter of 2025 compared with the second quarter of 2024, primarily due to an increase in reimbursable costs, which have an offsetting amount in cost of sales and have no impact on gross profit. Revenues excluding reimbursable costs increased 2.9% in the second quarter of 2025 compared with the 2024 period, as an increase in part sales was partially offset by fewer tons delivered due to reduced customer requirements, in part due to operational delays at several quarries.

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$3,085 Increase (decrease) from:Gross profit(1,602)Selling, general and administrative expenses(256)Earnings of unconsolidated operations(216)Gain on sale of