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NACCO Industries (NC) investor relations material
NACCO Industries Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 revenue reached $76.6 million, up 24% year-over-year and 12% sequentially; nine-month revenue was $210.4 million, up 26% year-over-year.
Net income for Q3 2025 was $13.3 million ($1.78/share), down 15% from Q3 2024 but up 307% sequentially, aided by favorable tax effects; nine-month net income was $21.4 million, down from $26.2 million in 2024.
Operating profit for Q3 2025 was $6.8 million, rebounding from Q2's break-even but down from $19.7 million in Q3 2024 due to a prior-year $13.6 million insurance recovery; nine-month operating profit was $14.4 million, down from $31.8 million.
EBITDA for Q3 2025 was $12.5 million, up from $9.3 million in Q2, but down from $25.7 million in Q3 2024.
All three operating segments showed sequential improvement, with underlying operational performance stronger year-over-year when excluding the 2024 insurance recovery.
Financial highlights
Gross profit for Q3 2025 was $10.0 million, up 38% year-over-year; nine-month gross profit was $26.4 million, up from $21.3 million.
Diluted EPS for Q3 2025 was $1.78, down 17% year-over-year but up 305% sequentially.
Total debt at September 30, 2025, was $80.2 million, down from $95.5 million at June 30 and $99.5 million at December 31, 2024; debt to total capitalization was 16%.
Total liquidity was $152 million, including $52.7 million in cash and $99.3 million available under the revolving credit facility.
$1.9 million in dividends paid in Q3 2025; $7.8 million remains under the $20 million share repurchase program expiring end of 2025.
Outlook and guidance
Q4 2025 operating profit expected to be comparable to Q4 2024; full-year 2025 operating profit will be lower than 2024 due to Q2 break-even and a significant non-cash pension settlement charge.
Meaningful improvements in operating profit and net income are expected in 2026.
Capital expenditures projected at $44 million for the remainder of 2025 and up to $70 million in 2026, focused on business development.
Cash flows expected to improve as returns from investments materialize; 2026 cash flows to be comparable to 2025.
Utility Coal Mining expects improved Q4 2025 results at Mississippi Lignite Mining, but full-year results will decline due to lower contract sales price.
MLMC contract pricing anomaly resolution?
Contract Mining ROIC mismatch drivers?
Pension plan termination financial impact?
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Next NACCO Industries earnings date
Q4 20255 Mar, 2026
Next NACCO Industries earnings date
Q4 20255 Mar, 2026
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Frequently asked questions
NACCO Industries Inc. operates through its subsidiaries in the mining and natural resources industries. The company’s core business includes providing mining services to customers in the energy and industrial sectors, primarily through long-term contracts. NACCO also engages in the management of surface mining operations and the reclamation of mining sites. Additionally, the company has interests in renewable energy projects and other resource-related ventures. The company is headquartered in Cleveland, Ohio, and its shares are listed on the NYSE.
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