NL — what changed in the latest 10-Q
A section-by-section comparison of NL's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-06 vs the prior 10-Q · 2025-11-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +57 | −103 | ~22 | 40 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 4 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-06
●The introduction of new, or changes in existing, tariffs, trade barriers or trade disputes;
Our net income attributable to NL stockholders was $4.3 million, or $0.9 per share, in the first quarter of 2026 compared to $.7 million, or $.01 per share, in the first quarter of 2025. As more fully described below, the increase in our net income attributable to NL stockholders from 2025 to 2026 i…
●an unrealized gain in the relative value of marketable equity securities of $2.7 million in 2026 compared to an unrealized loss of $8.5 million in 2025;
●equity in losses of Kronos of $1.5 million in 2026 compared to equity in earnings of $5.5 million in 2025; and
●higher CompX segment profit of $7.1 million in 2026 compared to $5.9 million in 2025.
Text removed vs the prior filing · source: 10-Q · 2025-11-06
●Potential difficulties in upgrading or implementing accounting and manufacturing software systems;
●The introduction of new, or changes in existing, tariffs, trade barriers or trade disputes (including tariffs imposed by the U.S. federal government on imports from Canada, where Kronos has a manufacturing facility);
Our net loss attributable to NL stockholders was $7.8 million, or $.16 per share, in the third quarter of 2025 compared to net income attributable to NL stockholders of $36.0 million, or $.74 per share, in the third quarter of 2024. As more fully described below, the decrease in our earnings attribu…
●equity in losses of Kronos of $11.3 million in 2025 compared to equity in earnings of $21.9 million in 2024;
●an unrealized loss in the relative value of marketable equity securities of $.5 million in 2025 compared to an unrealized gain of $18.6 million in 2024;
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice