NACCO INDUSTRIES ANNOUNCES THIRD QUARTER 2025 RESULTS
NACCO Industries (NYSE: NC) reported Q3 2025 consolidated revenues of $76.6M (+24% year/year) and gross profit of $10.0M (+38% year/year). Operating profit was $6.8M, improving sequentially from break-even in Q2 2025 but down versus Q3 2024 which included a $13.6M business interruption insurance benefit. Net income was $13.3M (diluted EPS $1.78). Liquidity at 9/30/2025 was $152.0M with total debt of $80.2M. Management expects Q4 2025 operating profit comparable to prior year, but full-year net income and EBITDA will decline materially due to an anticipated non-cash pension settlement charge upon plan termination.
NACCO Industries (NYSE: NC) ha riportato i ricavi consolidati del trimestre3 2025 di 76,6 milioni di dollari (+24% anno su anno) e un utile lordo di 10,0 milioni di dollari (+38% anno su anno). L’utile operativo ammontava a 6,8 milioni di dollari, in miglioramento rispetto al pareggio nel Q2 2025, ma in calo rispetto al Q3 2024 che comprendeva un beneficio assicurativo per interruzione aziendale di 13,6 milioni di dollari. L’utile netto è stato di 13,3 milioni di dollari (EPS diluito 1,78). La liquidità al 9/30/2025 era di 152,0 milioni di dollari con debito totale di 80,2 milioni di dollari. La direzione si aspetta che l’utile operativo del Q4 2025 sia comparabile all’anno precedente, ma l’utile netto e l’EBITDA annuali diminuiranno in modo sostanziale a causa di un previsto carico non monetario per liquidazione della pensione al termine del piano.
NACCO Industries (NYSE: NC) informó ingresos consolidados del tercer trimestre de 2025 de 76,6 millones de dólares (+24% año tras año) y una utilidad bruta de 10,0 millones de dólares (+38% año tras año). El beneficio operativo fue de 6,8 millones de dólares, mejorando respecto al punto de equilibrio en el segundo trimestre de 2025 pero por debajo del tercer trimestre de 2024, que incluyó un beneficio de seguro por interrupción de negocio de 13,6 millones de dólares. El ingreso neto fue de 13,3 millones de dólares (EPS diluido 1,78). La liquidez al 30/09/2025 fue de 152,0 millones de dólares con una deuda total de 80,2 millones. La dirección espera que el ingreso operativo del cuarto trimestre de 2025 sea comparable al año anterior, pero el ingreso neto y el EBITDA anual disminuirán de manera sustancial debido a una prevista carga contable no monetaria por liquidación de pensión al finalizar el plan.
NACCO Industries (NYSE: NC) 는 2025년 3분기 연결 매출이 7,660만 달러(+전년 대비 24%)와 1,000만 달러의 매출총이익(+전년 대비 38%)을 보고했습니다. 영업이익은 6,800,000 달러로 2025년 2분기의 손익분기점에서 개선되었으나 2024년 3분기 대비 하락했습니다. 2024년 3분기는 사업 중단 보험 혜택 1,360만 달러가 포함되어 있었습니다. 순이익은 1,330만 달러였고 희석 EPS는 1.78달러였습니다. 2025년 9월 30일의 유동성은 1억 5,200만 달러였고 총부채는 8,020만 달러였습니다. 경영진은 2025년 4분기의 영업이익이 전년과 비슷할 것으로 기대하지만, 연간 순이익과 EBITDA는 계획 종료로 인한 연금 해결의 비현금성 비용 예상을 이유로 크게 감소할 것이라고 밝혔습니다.
NACCO Industries (NYSE: NC) a enregistré au T3 2025 un chiffre d’affaires consolidé de 76,6 millions de dollars (+24 % sur un an) et un bénéfice brut de 10,0 millions de dollars (+38 % sur un an). Le résultat opérationnel s’est élevé à 6,8 millions de dollars, en amélioration par rapport au point mort du T2 2025 mais en recul par rapport au T3 2024, qui incluait un avantage d’assurance interruption d’activité de 13,6 millions de dollars. Le résultat net était de 13,3 millions de dollars (EPS dilué 1,78). La liquidité au 30/09/2025 était de 152,0 millions de dollars avec une dette totale de 80,2 millions. La direction s’attend à ce que le résultat opérationnel du T4 2025 soit comparable à l’année précédente, mais le résultat net et l’EBITDA annuels diminueront sensiblement en raison d’une charge non monétaire liée à la liquidation d’une pension à la fin du plan.
NACCO Industries (NYSE: NC) meldete im Q3 2025 konsolidierte Umsätze von 76,6 Mio. USD (+24% gegenüber dem Vorjahr) und Bruttogewinn von 10,0 Mio. USD (+38% gegenüber dem Vorjahr). Das Operating Profit betrug 6,8 Mio. USD, eine sequentielle Verbesserung gegenüber dem Break-even im Q2 2025, aber rückläufig gegenüber dem Q3 2024, das einen Versicherungsbenefit aufgrund einer Betriebsunterbrechung von 13,6 Mio. USD beinhaltete. Der Nettogewinn betrug 13,3 Mio. USD (verwässerter EPS 1,78). Die Liquidität zum 30.09.2025 betrug 152,0 Mio. USD bei einer Gesamtverschuldung von 80,2 Mio. USD. Das Management geht davon aus, dass der operative Gewinn im Q4 2025 dem Vorjahr entsprechen wird, aber der Jahresnettogewinn und das EBITDA werden aufgrund einer erwarteten nicht zahlungswirksamen Pensionsabwicklungskosten bei Beendigung des Plans deutlich sinken.
NACCO Industries (NYSE: NC) أبلغت عن إيرادات مجمعة للربع الثالث من 2025 قدرها 76.6 مليون دولار (+24% على أساس سنوي) وهامش الربح الإجمالي 10.0 مليون دولار (+38% على أساس سنوي). بلغ الربح التشغيلي 6.8 مليون دولار، وهو تحسن من التعادل في الربع الثاني 2025 ولكنه منخفض مقارنة بالربع الثالث 2024 الذي شمل فائدة تأمين بسبب توقف الأعمال قدرها 13.6 مليون دولار. بلغ صافي الربح 13.3 مليون دولار (ربحية السهم المخفّفة 1.78 دولار). بلغت السيولة في 30/09/2025 152.0 مليون دولار مع دين إجمالي قدره 80.2 مليون دولار. تتوقع الإدارة أن يكون الربح التشغيلي للربع الرابع 2025 مقارباً للسنة السابقة، لكن صافي الدخل وEBITDA للسنة سيانخفضان بشكل كبير بسبب توقع وجود مصروف غير نقدي لتسوية المعاشات عند إنهاء الخطة.
- Revenues +24% year-over-year to $76.6M
- Gross profit +38% year-over-year to $10.0M
- Consolidated EBITDA up sequentially 35% to $12.5M
- Contract Mining revenues +41% year-over-year to $45.6M
- Minerals operating profit +29% year-over-year to $7.97M
- Total liquidity of $152.0M at September 30, 2025
- Operating profit down 66% year-over-year to $6.8M
- Net income down 15% year-over-year to $13.3M
- Full-year operating profit expected lower than 2024
- Anticipated significant non-cash pension settlement charge in Q4 2025
- Remaining share repurchase authorization only $7.8M through 2025
Insights
NACCO shows top-line growth and margin improvement but year-over-year net income and EBITDA fall largely due to a prior insurance benefit and an anticipated pension settlement.
NACCO delivered consolidated revenues of
Key dependencies and near-term risks include the planned termination of the defined benefit pension in
Concrete items to watch: the actual pension settlement charge booked in
Consolidated Q3 2025 Results:
-
Revenues of
$76.6 million 24% , while gross profit of$10.0 million 38% over Q3 2024 -
Operating profit of
$6.8 million $19.7 million $13.6 million -
Net income of
$13.3 million $15.6 million
NACCO Industries® (NYSE: NC) today announced consolidated results for the three and nine months ended September 30, 2025.
Third-quarter 2025 earnings improved sequentially due to significant improvements in each of the Company's three operating segments. Compared with the prior-year third quarter, operating profit decreased as 2024 included a
"NACCO's third-quarter results demonstrate solid progress in growing our business and improving profitability," said J.C. Butler, NACCO President and Chief Executive Officer. "Although reported operating profit declined year over year due to the insurance recovery, our underlying operational performance was stronger both year over year and sequentially. I expect this momentum to continue to build as we execute our long-term growth strategy."
|
|
Three Months Ended |
||||
|
($ in thousands, except per share amounts) |
9/30/2025 |
9/30/2024 |
Year/Year |
6/30/2025 |
Sequential |
|
Revenues |
|
|
24 % |
|
12 % |
|
Gross profit |
|
|
38 % |
|
46 % |
|
Operating profit (loss) |
|
|
(66) % |
|
n/m** |
|
Income tax (benefit) provision |
|
|
309 % |
|
476 % |
|
Net Income |
|
|
(15) % |
|
307 % |
|
|
|
(17) % |
|
305 % |
|
|
Consolidated EBITDA* |
|
|
(51) % |
|
35 % |
|
|
|
*Non-GAAP financial measures are defined and reconciled on page 8. / ** n/m = not meaningful |
Liquidity
At September 30, 2025, the Company had total debt outstanding of
In the 2025 third quarter, the Company paid
Detailed Discussion of 2025 Third Quarter Compared to 2024 Third Quarter
In 2025, we changed our reportable segment names to help stakeholders more easily associate the business activities with each segment. The Utility Coal Mining, Contract Mining, and Minerals and Royalties segments were formerly the Coal Mining, North American Mining, and Minerals Management segments, respectively. The composition and historical reporting of each segment remained the same.
Utility Coal Mining Results
|
|
2025 |
|
2024 |
||
|
Tons of coal delivered |
(in thousands) |
||||
|
Unconsolidated operations |
5,469 |
|
5,335 |
||
|
Consolidated operations |
609 |
|
474 |
||
|
Total deliveries |
6,078 |
|
5,809 |
||
|
|
|||||
|
|
2025 |
|
2024 |
||
|
|
(in thousands) |
||||
|
Revenues |
$ |
19,654 |
|
$ |
17,706 |
|
Gross profit (loss) |
$ |
(1,857) |
|
$ |
(348) |
|
Earnings of unconsolidated operations |
$ |
14,311 |
|
$ |
13,821 |
|
Business interruption insurance recoveries |
$ |
— |
|
$ |
13,612 |
|
Operating expenses(1) |
$ |
7,467 |
|
$ |
7,147 |
|
Operating profit |
$ |
4,987 |
|
$ |
19,938 |
|
Segment Adjusted EBITDA(2) |
$ |
7,122 |
|
$ |
22,092 |
|
|
|
(1) Operating expenses consist of Selling, general and administrative expenses, Amortization of intangible assets and (Gain) loss on sale of assets. |
|
(2) Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP. See non-GAAP explanation and the related reconciliations to GAAP on page 9. |
Utility Coal Mining revenues for the 2025 third quarter rose
The underlying business results at Mississippi Lignite Mining Company continue to be affected by contractual pricing mechanics, resulting in a reduction in the contractually determined per ton sales price in 2025.
Contract Mining Results
|
|
2025 |
|
2024 |
||
|
|
(in thousands) |
||||
|
Tons delivered |
14,385 |
|
12,005 |
||
|
|
|||||
|
|
2025 |
|
2024 |
||
|
|
(in thousands)
|
||||
|
Revenues |
$ |
45,611 |
|
$ |
32,326 |
|
Operating profit (loss) |
$ |
1,929 |
|
$ |
(474) |
|
Segment Adjusted EBITDA(1) |
$ |
4,706 |
|
$ |
2,198 |
|
|
|
(1) Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP. See non-GAAP explanation and the related reconciliations to GAAP on page 9. |
The Contract Mining segment revenues grew substantially year over year in part due to an increase in reimbursed costs, which have an offsetting amount in cost of goods sold and therefore no impact on gross profit. Revenues, net of reimbursed costs, grew
Improved margins at the mining operations, an increase in parts sales and lower operating expenses led to significant increases in both operating profit and Segment Adjusted EBITDA. Prior year operating expenses included a
Minerals and Royalties Results
|
|
2025 |
|
2024 |
|
|
(in thousands) |
||
|
Revenues |
$ 9,313 |
|
$ 8,849 |
|
Operating profit |
$ 7,968 |
|
$ 6,188 |
|
Segment Adjusted EBITDA(1) |
$ 8,903 |
|
$ 7,280 |
|
|
|
(1) Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP. See non-GAAP explanation and the related reconciliations to GAAP on page 9. |
Minerals and Royalties operating profit and Segment Adjusted EBITDA increased year over year primarily due to an improvement in earnings from an equity investment and increased royalty revenues mainly driven by higher natural gas prices.
Outlook
NACCO is a growing diversified natural resource company, strategically positioned to deliver consistent financial returns over the long term. Our businesses operate exclusively in the
Our business model is purposely built for durability and resilience. Our foundation rests on a stable base of long-term coal-mining contracts, generating dependable recurring cash flows. As new long-term contracts are added each year in our other businesses, these multi-year agreements create a "layering" effect as their contributions compound. This, combined with income generated by our mineral and royalty assets, provide cash flow stability. We remain confident in our ability to deliver sound fourth-quarter 2025 operating results, with momentum building as we move into 2026.
We anticipate consolidated operating profit for the 2025 fourth quarter to be comparable to the prior year quarter. Full-year operating profit will be lower than 2024 due in part to the 2025 second-quarter break-even results. In addition, we intend to terminate our defined benefit pension plan in the fourth quarter of 2025. Although the plan is currently over funded, a significant non-cash settlement charge is anticipated upon termination. The pension settlement charge and lower operating profit are expected to lead to a substantial year-over-year decrease in net income and EBITDA compared with the 2024 fourth quarter and full year. We expect meaningful year-over-year improvements in both operating profit and net income in 2026.
Our Utility Coal Mining segment, operated by North American Coal®, constitutes the foundation of our business, anchored by our long-term mining contracts. We anticipate steady customer demand for the remainder of 2025 and in 2026 at the unconsolidated mining operations. At Mississippi Lignite Mining Company, fourth-quarter 2025 results are expected to improve over 2024 due to operational efficiencies. However, this improvement is not expected to offset the effect of the reduction in the 2025 contractually determined per ton sales price, causing Mississippi Lignite Mining Company's and the Utility Coal Mining segment's 2025 full-year results to decline compared with 2024. Looking ahead, we expect improving profitability for this segment in 2026, driven by anticipated improvements at Mississippi Lignite Mining Company in both sales price and cost per ton delivered, particularly if the customer's power plant is able to operate more consistently.
The Contract Mining segment, operated by North American Mining®, represents our mining growth platform. Our expanding pipeline of potential deals and continued engagement with customers position this segment as a key pillar for future growth. Through ongoing geographic and mineral expansion, we are building a growing portfolio of long-term contracts. As an example, North American Mining executed a multi-year contract in October 2025 to provide dragline services as part of a project to construct an embankment dam in
Sawtooth Mining, a North American Mining subsidiary, is the exclusive provider of comprehensive mining services at Thacker Pass, which is owned by a joint venture between Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) and General Motors Holdings LLC. The
While overall customer demand within the Contract Mining segment is expected to increase year-over-year, profitability improvements in the 2025 fourth quarter are expected to be driven by operational efficiencies partly offset by elevated operating expenses. Momentum from the strong full-year 2025 results and operational efficiencies is expected to accelerate in 2026. These factors, combined with earnings from the new contract signed in October 2025 are expected to lead to a significant increase in year-over-year results.
The Minerals and Royalties segment, led by Catapult Minerals Partners®, has constructed a high-quality, diversified portfolio of oil and gas mineral and royalty interests in
Minerals and Royalties' operating profit and Segment Adjusted EBITDA for the 2025 fourth quarter are expected to decrease compared with 2024 primarily driven by current market expectations for natural gas and oil prices, as well as development and production assumptions on currently owned reserves. While fourth-quarter 2025 results are projected to decline, full-year operating profit is expected to increase over 2024, excluding the
In July 2025, Catapult completed a
Mitigation Resources of
We continue to invest in our businesses to drive future growth. Based on the current project pipeline, we anticipate capital expenditures of approximately
Our conservative approach to maintaining a strong capital structure and operating discipline minimizes risk, while the compounding effect of a growing portfolio of long-term contracts and deliberate growth investments create a robust foundation for cash flow growth. With a perspective that spans decades, we are methodically building a strong, stable business that is expected to deliver annuity-like returns. This long-term view allows us to leverage our core skills for strategic, measured expansion and pursue opportunities with longer-term horizons and higher returns, that others with shorter time horizons might overlook. Our commitment is to generate increasing cash flows and return value to stockholders, whether through reinvestment for growth or direct returns such as share repurchases and payment of dividends. We remain confident in our ability to drive growth, expand our capabilities and reward shareholders over the long run.
****
Conference Call
In conjunction with this news release, the management of NACCO Industries will host a conference call on Thursday, November 6, 2025 at 8:30 a.m. Eastern Time. The call may be accessed by dialing (888) 880-3330 (North America Toll Free) or (646) 357-8766 (International), Conference ID: 7284609, or over the Internet through NACCO Industries' website at ir.nacco.com/overview. For those not planning to ask a question of management, the Company recommends listening to the call via the online webcast. Please allow 15 minutes to register, download and install any necessary audio software required to listen to the webcast. A replay of the call will be available shortly after the call ends through November 13, 2025. An archive of the webcast will also be available on the Company's website approximately two hours after the live call ends.
Non-GAAP and Other Measures
This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included in this release are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with
Forward-looking Statements Disclaimer
The statements contained in this news release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Among the factors that could cause plans, actions and results to differ materially from current expectations are, without limitation: (1) a significant reduction in demand by the Company's customers, (2) weather conditions, extended power plant outages, liquidity events or other events that would change the level of customers' coal or aggregates requirements, (3) changes to or termination of customer or other third-party contracts, or a customer or other third party default under a contract, (4) changes in the prices of hydrocarbons, particularly diesel fuel, natural gas, natural gas liquids and oil as a result of factors such as OPEC and/or government actions, geopolitical developments, economic conditions and regulatory changes, vehicle electrification, as well as supply and demand dynamics, (5) changes in development plans by third-party lessees of the Company's mineral interests, (6) failure or delays by the Company's lessees in achieving expected production of natural gas and other hydrocarbons; the availability and cost of transportation and processing services in the areas where the Company's oil and gas reserves are located; and the ability of lessees to obtain capital or financing needed for well-development operations and leasing and development of oil and gas reserves on federal lands, (7) any customer's premature facility closure or extended project development delay, (8) federal and state legislative and regulatory actions affecting fossil fuels, (9) supply chain disruptions, including price increases and shortages of parts and materials, inclusive of tariff effects, (10) failure to obtain adequate insurance coverages at reasonable rates, (11) changes in tax laws or regulatory requirements, including the elimination of, or reduction in, the percentage depletion tax deduction, changes in mining or power plant emission regulations and health, safety or environmental legislation, (12) impairment charges, (13) changes in costs related to geological and geotechnical conditions, repairs and maintenance, new equipment and replacement parts, fuel or other similar items, (14) equipment problems that could affect deliveries to customers, (15) changes in the costs to reclaim mining areas, (16) costs to pursue and develop new mining, mitigation, oil and gas and power generation development opportunities and other value-added service opportunities, (17) the ability to successfully evaluate investments and achieve intended financial results in new business and growth initiatives, (18) disruptions from natural or human causes, including severe weather, accidents, fires, earthquakes and terrorist acts, any of which could result in suspension of operations or harm to people or the environment, and (19) the ability to attract, retain, and replace workforce and administrative employees.
About NACCO Industries
NACCO Industries® brings natural resources to life by delivering aggregates, minerals, reliable fuels and environmental solutions through its robust portfolio of NACCO Natural Resources businesses. Learn more about our companies at nacco.com, or get investor information at ir.nacco.com.
*****
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NACCO INDUSTRIES, INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||
|
|
|||||||
|
|
THREE MONTHS ENDED |
|
NINE MONTHS ENDED |
||||
|
|
SEPTEMBER 30 |
|
SEPTEMBER 30 |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
(In thousands, except per share data) |
||||||
|
Revenues |
$ 76,614 |
|
$ 61,656 |
|
$ 210,420 |
|
$ 167,290 |
|
Cost of sales |
66,643 |
|
54,412 |
|
183,975 |
|
146,010 |
|
Gross profit |
9,971 |
|
7,244 |
|
26,445 |
|
21,280 |
|
Earnings of unconsolidated operations |
16,494 |
|
15,155 |
|
45,618 |
|
42,054 |
|
Business interruption insurance recoveries |
— |
|
13,612 |
|
— |
|
13,612 |
|
Operating expenses |
|
|
|
|
|
|
|
|
Selling, general and administrative expenses |
19,549 |
|
16,487 |
|
57,190 |
|
49,660 |
|
Amortization of intangible assets |
167 |
|
131 |
|
574 |
|
373 |
|
Gain on sale of assets |
(28) |
|
(306) |
|
(109) |
|
(4,909) |
|
|
19,688 |
|
16,312 |
|
57,655 |
|
45,124 |
|
Operating profit |
6,777 |
|
19,699 |
|
14,408 |
|
31,822 |
|
Other expense (income) |
|
|
|
|
|
|
|
|
Interest expense |
1,087 |
|
1,386 |
|
4,805 |
|
3,808 |
|
Interest income |
(708) |
|
(1,084) |
|
(2,343) |
|
(3,249) |
|
Closed mine obligations |
478 |
|
463 |
|
1,454 |
|
1,389 |
|
(Gain) loss on equity securities |
(284) |
|
(442) |
|
237 |
|
(1,219) |
|
Gain on settlement of excess funding liability |
— |
|
— |
|
(3,590) |
|
— |
|
Other, net |
247 |
|
244 |
|
767 |
|
160 |
|
|
820 |
|
567 |
|
1,330 |
|
889 |
|
Income before income tax (benefit) provision |
5,957 |
|
19,132 |
|
13,078 |
|
30,933 |
|
Income tax (benefit) provision |
(7,297) |
|
3,497 |
|
(8,336) |
|
4,756 |
|
Net income |
$ 13,254 |
|
$ 15,635 |
|
$ 21,414 |
|
$ 26,177 |
|
|
|
|
|
|
|
|
|
|
Earnings per share: |
|
|
|
|
|
|
|
|
Basic earnings per share |
$ 1.78 |
|
$ 2.14 |
|
$ 2.89 |
|
$ 3.55 |
|
Diluted earnings per share |
$ 1.78 |
|
$ 2.14 |
|
$ 2.87 |
|
$ 3.54 |
|
|
|
|
|
|
|
|
|
|
Basic weighted average shares outstanding |
7,454 |
|
7,312 |
|
7,415 |
|
7,383 |
|
Diluted weighted average shares outstanding |
7,454 |
|
7,312 |
|
7,449 |
|
7,395 |
|
CONSOLIDATED EBITDA RECONCILIATION (UNAUDITED) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended |
|
LTM |
||||||||
|
|
9/30/2024 |
|
12/31/2024 |
|
3/31/2025 |
|
6/30/2025 |
|
9/30/2025 |
|
9/30/2025 |
|
|
|
|
(in thousands) |
|
|
||||||
|
Net income |
$ 15,635 |
|
$ 7,564 |
|
$ 4,900 |
|
$ 3,260 |
|
$ 13,254 |
|
$ 28,978 |
|
Income tax (benefit) provision |
3,497 |
|
(4,851) |
|
227 |
|
(1,266) |
|
(7,297) |
|
(13,187) |
|
Interest expense |
1,386 |
|
1,758 |
|
1,774 |
|
1,944 |
|
1,087 |
|
6,563 |
|
Interest income |
(1,084) |
|
(1,179) |
|
(865) |
|
(770) |
|
(708) |
|
(3,522) |
|
Depreciation, depletion and |
6,251 |
|
5,702 |
|
6,793 |
|
6,091 |
|
6,194 |
|
24,780 |
|
Consolidated EBITDA* |
$ 25,685 |
|
$ 8,994 |
|
$ 12,829 |
|
$ 9,259 |
|
$ 12,530 |
|
$ 43,612 |
|
|
|||||||||||
|
*Consolidated EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP measures. NACCO defines Consolidated EBITDA as net income before income taxes, net interest expense and depreciation, depletion and amortization expense. Consolidated EBITDA is not a measure under |
|
NACCO INDUSTRIES, INC. AND SUBSIDIARIES FINANCIAL SEGMENT HIGHLIGHTS AND SEGMENT ADJUSTED EBITDA RECONCILIATIONS (UNAUDITED) |
|||||||||||
|
|
|||||||||||
|
|
Three Months Ended September 30, 2025 |
||||||||||
|
|
Utility Coal |
|
Contract |
|
Minerals and |
|
Unallocated |
|
Eliminations |
|
Total |
|
|
(In thousands) |
||||||||||
|
Revenues |
$ 19,654 |
|
$ 45,611 |
|
$ 9,313 |
|
$ 2,958 |
|
$ (922) |
|
$ 76,614 |
|
Cost of sales |
21,511 |
|
42,395 |
|
1,121 |
|
2,502 |
|
(886) |
|
66,643 |
|
Gross profit (loss) |
(1,857) |
|
3,216 |
|
8,192 |
|
456 |
|
(36) |
|
9,971 |
|
Earnings of unconsolidated operations |
14,311 |
|
1,074 |
|
1,111 |
|
(2) |
|
— |
|
16,494 |
|
(Gain) loss on sale of assets |
(17) |
|
(2) |
|
— |
|
(9) |
|
— |
|
(28) |
|
Operating expenses* |
7,484 |
|
2,363 |
|
1,335 |
|
8,534 |
|
— |
|
19,716 |
|
Operating profit (loss) |
$ 4,987 |
|
$ 1,929 |
|
$ 7,968 |
|
$ (8,071) |
|
$ (36) |
|
$ 6,777 |
|
Segment Adjusted EBITDA ** |
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit (loss) |
$ 4,987 |
|
$ 1,929 |
|
$ 7,968 |
|
$ (8,071) |
|
$ (36) |
|
$ 6,777 |
|
Depreciation, depletion and |
2,135 |
|
2,777 |
|
935 |
|
347 |
|
— |
|
6,194 |
|
Segment Adjusted EBITDA** |
$ 7,122 |
|
$ 4,706 |
|
$ 8,903 |
|
$ (7,724) |
|
$ (36) |
|
$ 12,971 |
|
|
|
||||||||||
|
|
Three Months Ended September 30, 2024 |
||||||||||
|
|
Utility Coal |
|
Contract |
|
Minerals and |
|
Unallocated |
|
Eliminations |
|
Total |
|
|
(In thousands) |
||||||||||
|
Revenues |
$ 17,706 |
|
$ 32,326 |
|
$ 8,849 |
|
$ 3,745 |
|
$ (970) |
|
$ 61,656 |
|
Cost of sales |
18,054 |
|
31,379 |
|
1,286 |
|
4,622 |
|
(929) |
|
54,412 |
|
Gross profit (loss) |
(348) |
|
947 |
|
7,563 |
|
(877) |
|
(41) |
|
7,244 |
|
Earnings of unconsolidated operations |
13,821 |
|
1,122 |
|
213 |
|
(1) |
|
— |
|
15,155 |
|
Business interruption insurance recoveries |
13,612 |
|
— |
|
— |
|
— |
|
— |
|
13,612 |
|
(Gain) loss on sale of assets |
2 |
|
(300) |
|
— |
|
(8) |
|
— |
|
(306) |
|
Operating expenses* |
7,145 |
|
2,843 |
|
1,588 |
|
5,042 |
|
— |
|
16,618 |
|
Operating profit (loss) |
$ 19,938 |
|
$ (474) |
|
$ 6,188 |
|
$ (5,912) |
|
$ (41) |
|
$ 19,699 |
|
Segment Adjusted EBITDA ** |
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit (loss) |
$ 19,938 |
|
$ (474) |
|
$ 6,188 |
|
$ (5,912) |
|
$ (41) |
|
$ 19,699 |
|
Depreciation, depletion and amortization |
2,154 |
|
2,672 |
|
1,092 |
|
333 |
|
— |
|
6,251 |
|
Segment Adjusted EBITDA** |
$ 22,092 |
|
$ 2,198 |
|
$ 7,280 |
|
$ (5,579) |
|
$ (41) |
|
$ 25,950 |
|
|
|
*Operating expenses consist of Selling, general and administrative expenses and Amortization of intangible assets. |
|
**Segment Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP measures. NACCO defines Segment Adjusted EBITDA as operating profit (loss) before depreciation, depletion and amortization expense. Segment Adjusted EBITDA is not a measure under |
|
NACCO INDUSTRIES, INC. AND SUBSIDIARIES FINANCIAL SEGMENT HIGHLIGHTS AND SEGMENT ADJUSTED EBITDA RECONCILIATIONS (UNAUDITED) |
|||||||||||
|
|
|||||||||||
|
|
Nine Months Ended September 30, 2025 |
||||||||||
|
|
Utility Coal |
|
Contract |
|
Minerals and |
|
Unallocated |
|
Eliminations |
|
Total |
|
|
(In thousands) |
||||||||||
|
Revenues |
$ 67,519 |
|
$ 107,860 |
|
$ 27,483 |
|
$ 9,581 |
|
$ (2,023) |
|
$ 210,420 |
|
Cost of sales |
74,408 |
|
99,432 |
|
4,351 |
|
7,790 |
|
(2,006) |
|
183,975 |
|
Gross profit (loss) |
(6,889) |
|
8,428 |
|
23,132 |
|
1,791 |
|
(17) |
|
26,445 |
|
Earnings of unconsolidated operations |
40,430 |
|
3,275 |
|
1,916 |
|
(3) |
|
— |
|
45,618 |
|
(Gain) loss on sale of assets |
(103) |
|
(2) |
|
— |
|
(4) |
|
— |
|
(109) |
|
Operating expenses* |
23,644 |
|
6,796 |
|
3,968 |
|
23,356 |
|
— |
|
57,764 |
|
Operating profit (loss) |
$ 10,000 |
|
$ 4,909 |
|
$ 21,080 |
|
$ (21,564) |
|
$ (17) |
|
$ 14,408 |
|
Segment Adjusted EBITDA ** |
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit (loss) |
$ 10,000 |
|
$ 4,909 |
|
$ 21,080 |
|
$ (21,564) |
|
$ (17) |
|
$ 14,408 |
|
Depreciation, depletion and amortization |
6,285 |
|
8,396 |
|
3,688 |
|
709 |
|
— |
|
19,078 |
|
Segment Adjusted EBITDA** |
$ 16,285 |
|
$ 13,305 |
|
$ 24,768 |
|
$ (20,855) |
|
$ (17) |
|
$ 33,486 |
|
|
|
||||||||||
|
|
Nine Months Ended September 30, 2024 |
||||||||||
|
|
Utility Coal |
|
Contract |
|
Minerals and |
|
Unallocated |
|
Eliminations |
|
Total |
|
|
(In thousands) |
||||||||||
|
Revenues |
$ 48,247 |
|
$ 84,729 |
|
$ 24,843 |
|
$ 11,573 |
|
$ (2,102) |
|
$ 167,290 |
|
Cost of sales |
55,135 |
|
77,304 |
|
4,151 |
|
11,501 |
|
(2,081) |
|
146,010 |
|
Gross profit (loss) |
(6,888) |
|
7,425 |
|
20,692 |
|
72 |
|
(21) |
|
21,280 |
|
Earnings of unconsolidated operations |
37,834 |
|
3,935 |
|
286 |
|
(1) |
|
— |
|
42,054 |
|
Business interruption insurance recoveries |
13,612 |
|
— |
|
— |
|
— |
|
— |
|
13,612 |
|
(Gain) loss on sale of assets |
(87) |
|
(302) |
|
(4,512) |
|
(8) |
|
— |
|
(4,909) |
|
Operating expenses* |
22,357 |
|
6,696 |
|
3,781 |
|
17,199 |
|
— |
|
50,033 |
|
Operating profit (loss) |
$ 22,288 |
|
$ 4,966 |
|
$ 21,709 |
|
$ (17,120) |
|
$ (21) |
|
$ 31,822 |
|
Segment Adjusted EBITDA ** |
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit (loss) |
$ 22,288 |
|
$ 4,966 |
|
$ 21,709 |
|
$ (17,120) |
|
$ (21) |
|
$ 31,822 |
|
Depreciation, depletion and amortization |
7,264 |
|
7,362 |
|
3,408 |
|
916 |
|
— |
|
18,950 |
|
Segment Adjusted EBITDA** |
$ 29,552 |
|
$ 12,328 |
|
$ 25,117 |
|
$ (16,204) |
|
$ (21) |
|
$ 50,772 |
|
|
|
*Operating expenses consist of Selling, general and administrative expenses and Amortization of intangible assets. |
View original content to download multimedia:https://www.prnewswire.com/news-releases/nacco-industries-announces-third-quarter-2025-results-302606256.html
SOURCE NACCO Industries
FAQ
What were NACCO (NC) Q3 2025 revenues and year-over-year change?
Why did NACCO (NC) operating profit fall year-over-year in Q3 2025?
How much liquidity and debt did NACCO (NC) hold at September 30, 2025?
What pension action did NACCO (NC) announce for Q4 2025?
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