Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 101

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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  15,745 Consolidated operations609  474 2,090  1,352 Total tons delivered6,078  5,809 16,911  17,097 

The results of operations for the Utility Coal Mining segment were as follows for the three and nine months ended September 30:

THREE MONTHSNINE MONTHS 2025 20242025 2024Revenues $19,654  $17,706 $67,519 $48,247 Cost of sales 21,511 18,054 74,408 55,135 Gross loss(1,857)(348)(6,889)(6,888)Earnings of unconsolidated operations(a)14,311 13,821 40,430 37,834 Business interruption insurance recoveries— 13,612 — 13,612 Selling, general and administrative expenses7,317 7,014 23,070 21,984 Amortization of intangible assets167 131 574 373 (Gain) loss on sale of assets(17)2 (103)(87)Operating profit$4,987  $19,938 $10,000 $22,288 

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

22

Third Quarter of 2025 Compared with Third Quarter of 2024

Revenues increased 11.0% in the third quarter of 2025 compared with the third quarter of 2024 primarily due to an increase in customer requirements at MLMC. A boiler issue at the customer's Red Hills Power Plant reduced customer requirements in 2024. 

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 Profit2024$19,938 Increase (decrease) from:Business interruption insurance recoveries in 2024(13,612)Gross loss(1,509)Selling, general and administrative expenses(303)Amortization of intangibles(36)Earnings of unconsolidated operations490 Net change on sale of assets19 2025$4,987 

Operating profit decreased by $15.0 million in the third quarter of 2025 compared with the 2024 period.