United States Lime & Minerals Reports Strong Third Quarter 2024 Results and Dividend Declaration

United States Lime & Minerals, Inc. (NASDAQ: USLM) recently announced its financial results for the third quarter ending September 30, 2024. The company reported revenues of $89.4 million for the quarter, showcasing a notable increase compared to $74.9 million in the same period last year. This marked a 19.4% surge in revenues driven by higher average selling prices for lime and limestone products along with increased sales volumes, particularly to construction and roof shingle customers.

For the first nine months of 2024, United States Lime & Minerals’ revenues stood at $237.7 million, up from $215.6 million in the previous year. This represented a 10.2% growth, supported by enhanced average selling prices for lime and limestone products, despite decreased sales volumes from construction customers, partially offset by increased demand from industrial and roof shingle clients.

The company’s gross profit for the third quarter of 2024 was $43.1 million, a substantial increase of 53.1% compared to $28.2 million in the corresponding period of 2023. Similarly, for the first nine months of 2024, the gross profit rose to $108.5 million from $79.3 million in 2023, marking a 36.9% uptick. These improvements were mainly attributed to higher revenues and decreased operating expenses due to factors like lower natural gas prices.

United States Lime & Minerals reported a net income of $33.4 million ($1.16 per share diluted) for the third quarter of 2024, surging from $20.7 million ($0.73 per share diluted) in the same period last year. Similarly, for the first nine months of 2024, the net income reached $81.8 million ($2.85 per share diluted) compared to $57.5 million ($2.02 per share diluted) in 2023, reflecting substantial increases of 60.9% and 42.2%, respectively.

Furthermore, the company’s Board of Directors declared a regular quarterly cash dividend of $0.05 per share on its common stock. Shareholders of record as of November 22, 2024, will be eligible to receive this dividend on December 13, 2024.

United States Lime & Minerals, Inc., based in Dallas, Texas, is a manufacturer of lime and limestone products, serving various industries such as construction, industrial, metals, environmental, roof shingle manufacturers, oil and gas services, and agriculture. END

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read United States Lime & Minerals’s 8K filing here.

About United States Lime & Minerals

United States Lime & Minerals, Inc manufactures and supplies lime and limestone products in the United States. It extracts limestone from open-pit quarries and an underground mine, and processes it as pulverized limestone, quicklime, hydrated lime, and lime slurry. The company supplies its products primarily to the construction customers, including highway, road, and building contractors; industrial customers, such as paper and glass manufacturers; environmental customers comprising municipal sanitation and water treatment facilities, and flue gas treatment processes; oil and gas services companies; roof shingle manufacturers; and poultry producers.