Research Reports

Summary

NACCO Industries, Inc. announced Q4 and full year 2025 results, reporting a Q4 net loss of $3.8 million due to a $6.0 million after-tax pension settlement charge, while full year net income was $17.6 million. The company provided positive outlook for 2026, expecting meaningful year-over-year improvements in consolidated operating profit, net income, and EBITDA.

Key takeaways

Q4 2025 Net Loss of $3.8 million, or $(0.52) per diluted share, compared to Net Income of $7.6 million in Q4 2024.
Full Year 2025 Net Income was $17.6 million, or $2.35 per share, down from $33.7 million, or $4.55 per share, in 2024.
Q4 2025 results included a $6.0 million after-tax, non-cash pension settlement charge related to the planned termination of the company's pension plan.
Q4 Adjusted EBITDA improved 59% year-over-year to $14.3 million; Full Year Adjusted EBITDA was $48.9 million.
Total liquidity was $124.2 million as of December 31, 2025, consisting of $49.7 million in cash and $74.5 million in revolver availability.
2026 Outlook: Expect meaningful year-over-year improvements in consolidated operating profit, net income, and EBITDA, with anticipated capital expenditures of up to $89 million.