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 · 2026-08-05 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +61 | −39 | ~29 | 51 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 5 |
| Legal proceedings | Text added/removed | +1 | −2 | ~1 | 0 |
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): 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 · 2026-08-05
●equity in earnings of Kronos of $4.6 million in 2026 compared to equity in losses of $2.8 million in 2025;
●higher CompX segment profit of $8.9 million in 2026 compared to $6.3 million in 2025; and
●an unrealized gain in the relative value of marketable equity securities of $.5 million in 2026 compared to an unrealized loss of $.1 million in 2025.
Six months ended June 30, 2026 compared to six months ended June 30, 2025
Our net income attributable to NLI stockholders was $13.3 million, or $.27 per share, in the first six months of 2026 compared to $1.0 million, or $.02 per share, in the first six months of 2025. As more fully described below, the increase in our earnings attributable to NLI stockholders from 2025 t…
Text removed vs the prior filing · source: 10-Q · 2026-05-06
●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.
CompX’s segment profit in the first quarter of 2026 was $7.1 million compared to $5.9 million in the same period of 2025. The increase in segment profit in the first quarter of 2026 compared to 2025 is primarily due to higher gross margin at the Security Products reporting unit and, to a lesser exte…
Net sales – CompX’s net sales increased $.3 million in the first quarter of 2026 compared to the same period in 2025 primarily due to higher Marine Components sales to the industrial market partially offset by lower Security Products sales. See discussion of reporting units below.
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-08-05
California Department of Toxic Substances v. NL Industries, Inc. In July 2026, the trial court set the amount of past costs recoverable under CERCLA at $27.5 million, but did not allocate that amount among the defendants. We have denied liability and will continue to defend vigorously against all cl…
Text removed vs the prior filing · source: 10-Q · 2026-05-06
In March 2026, NL and several other defendants were served with a complaint in City of Columbus v. NL Industries, Inc., (Franklin County, Ohio Court of Common Pleas, Case No. 26 CV 002355), which was subsequently removed to federal court (United States District Court for the Southern District of Ohi…
South Carolina Public Water Company PFAS Litigation. In April 2026, CompX filed answers denying liability in all four pending PFAS cases. CompX intends to defend vigorously against all claims.
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