NACCO Industries announced that its Class A Common Stock will be listed on NYSE Texas, effective December 11, 2025, while continuing to trade on the New York Stock Exchange under the ticker “NC.” The move follows the launch of NYSE Texas in March 2025, a fully electronic exchange that relocated from Chicago and is designed to serve companies with strong ties to the Texas market.
The dual‑listing announcement comes in the same week that NACCO reported its third‑quarter 2025 results. Revenue rose 24% to $76.6 million from $59.5 million in Q3 2024, driven by robust demand in the Contract Mining and Minerals & Royalties segments. However, net income and earnings per share fell, with EPS dropping to $1.78 from $2.14. Operating profit fell to $6.8 million from $19.7 million, largely because the company did not receive the $13.6 million insurance recovery that boosted last year’s operating profit.
Segment analysis shows that Contract Mining and Minerals & Royalties grew strongly, offsetting weaker performance in the Utility Coal Mining segment. The company’s focus on long‑term contracts and operational efficiencies in these high‑margin segments is expected to support future revenue growth, while the decline in the coal segment reflects broader industry headwinds and a shift in customer demand.
CEO J.C. Butler emphasized the strategic importance of Texas, noting that the dual listing “reinforces our long‑standing relationship with the NYSE and deepens our commitment to the Lone Star State, a key region for natural resources.” He added that the listing “reaffirms our support for Texas’ business‑friendly environment and increases our market visibility, while we continue to create long‑term value for shareholders.”
The dual listing expands NACCO’s liquidity and broadens access for regional investors without altering its corporate structure or capital allocation plans. By listing on a Texas‑focused exchange, the company signals confidence in the state’s economic climate and its own operational footprint there, potentially attracting new investors who prioritize regional exposure.
Overall, NACCO’s dual‑listing announcement and Q3 2025 earnings highlight a company that is growing revenue while managing profitability challenges. The move to NYSE Texas underscores a strategic focus on Texas and positions the company to capitalize on future opportunities in the natural‑resources sector.
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