Income Taxes

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 6—INCOME TAXES:

The Company recorded an income tax benefit for the three months ended March 31, 2026 of ($427), or an effective tax rate of (2.1%), of earnings before income tax based on its annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three months ended March 31, 2026 differed from the U.S. federal statutory rate of 21% primarily due to tax benefits for excess percentage depletion and Section 45X Advanced Manufacturing Production Credits.

The income tax benefit for the three months ended March 31, 2025 of ($4,216), or an effective tax rate of 5.7%, of loss before income tax was based on the Company’s annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three months ended March 31, 2025 differed from the U.S. federal statutory rate of 21% primarily due to the tax benefit for excess percentage depletion.