NACCO swings to Q2 loss on solar impairment charge

NACCO Industries

05/08/2026 21:57

Overview
US natural resources firm's Q2 revenue rose 6% yr/yr, gross profit up 123%
Company posted Q2 net loss of $1 mln due to $12 mln solar asset impairment charges
Q2 adjusted EBITDA rose 72% yr/yr despite lower equity investment earnings

Outlook
Company expects full-year 2026 Consolidated Adjusted EBITDA to improve year over year, excluding charges
Second-half 2026 operating profit and net income expected to decline from first half and 2025
Contract Mining segment anticipates substantial year-over-year growth in operating profit and Segment Adjusted EBITDA for 2026

Result Drivers
SOLAR IMPAIRMENT - $12 mln impairment charges on solar development projects within ReGen Resources offset operating gains
CONTRACT MINING GROWTH - New dragline services contract and higher demand at limestone operations drove revenue and profit increases
MINERALS & ROYALTIES - Higher oil prices and favorable pricing adjustments boosted royalty revenues, though equity investment earnings declined

Company press release: ID:nPn44kQMQa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$0.13
 
Q2 Net Loss
 
$963,000
 
Q2 Adjusted EBITDA
 
$15.91 mln
 
Q2 Operating Income
 
-$2.27 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)