Improved Operating Profit
Third quarter operating profit of $7 million improved from a breakeven result in the second quarter. EBITDA increased from $9.3 million in Q2 to $12.5 million in Q3, showing progress in profitability.
Contract Mining Segment Growth
Tons delivered grew 20% year-over-year and 3% sequentially. The segment added long-term contracts and executed a profitable multiyear contract for dragline services in Florida.
Minerals and Royalties Segment Expansion
Catapult completed a $4.2 million strategic acquisition, expanding mineral interests in the Midland Basin. The segment expects full-year profitability in 2026.
Revenue and Gross Profit Increase
Consolidated revenues were $76.6 million, up 24% year-over-year, and gross profit improved by 38%.
Debt Reduction and Liquidity
Total debt decreased from $99.5 million at the end of 2024 to $80.2 million as of September 30, 2025, with total liquidity standing at $152 million.