Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 104

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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5 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$4,909 

Operating profit in the first nine months of 2025 was comparable to the 2024 period. An increase in gross profit was largely offset by a decrease in earnings of unconsolidated operations. The improvement in gross profit was mainly the result of an increase in part sales, partially offset by a decrease in tons delivered and higher operating costs, including unexpected repairs and maintenance costs. The decrease in earnings of unconsolidated operations was primarily due to a reduction in tons delivered.

MINERALS AND RO