Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 82

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 which have an offsetting amount in cost of sales and have no impact on gross profit. Revenues excluding reimbursable costs increased 21.6% in the third quarter of 2025 compared with the 2024 period, mainly the result of more tons delivered due to higher customer requirements and an increase in part sales. The increase in tons delivered is partially due to an increase in planned customer outages and significant rain events in Florida during the third quarter of 2024 that did not recur in the 2025 period.

24

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

 Operating Profit (Loss)2024$(474)Increase (decrease) from:Gross profit2,269 Selling, general and administrative expenses480 Net change on sale of assets(298)Earnings of unconsolidated operations(48)2025$1,929 

Operating profit (loss) improved by $2.4 million in the third quarter of 2025 compared with the 2024 period. The favorable change was primarily due to an increase in gross profit and a decrease in selling, general and administrative expenses. The improvement in gross profit was mainly the result of an increase in tons delivered and improved margins at the consolidated limestone quarries. The decrease in selling, general and administrative expenses was the result of the absence of a $0.9 million charge to establish an allowance against a customer receivable. 

 First Nine Months of 2025 Compared with First Nine Months of 2024

Total revenues increased in the first nine months of 2025 compared with the first nine months 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 8.7% in the first nine months of 2025 compared with the 2024 period primarily due to an increase in part sales.

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$4,966 Increase (decrease) from:Gross profit1,003 Earnings of unconsolidated operations(660)Net change on sale of assets(300)Selling, general and administrative expenses(100)2025$4,