Core Insights - United States Lime & Minerals, Inc. reported a strong financial performance in Q1 2025, with revenues increasing by 27.3% year-over-year to $91.3 million, driven by higher sales volumes and average selling prices of lime and limestone products [1][6] - The company's gross profit rose by 50.8% to $46.2 million, reflecting the revenue growth [2] - Net income for Q1 2025 was $34.1 million, a 52.0% increase compared to $22.4 million in Q1 2024, translating to $1.19 per diluted share [5] Revenue and Profitability - Revenues in Q1 2025 were $91.3 million, up from $71.7 million in Q1 2024, an increase of $19.6 million [1] - Gross profit increased to $46.2 million from $30.6 million, an increase of $15.5 million [2] - Operating profit for the quarter was $39.9 million, compared to $25.8 million in the previous year [12] Expenses - Selling, general and administrative (SG&A) expenses rose to $6.3 million in Q1 2025 from $4.8 million in Q1 2024, an increase of 29.2% [3] - Other income increased to $3.1 million in Q1 2025 from $2.5 million in Q1 2024, primarily due to interest earned on higher cash balances [4] Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.06 per share, payable on June 13, 2025, to shareholders of record by May 23, 2025 [7] Company Overview - United States Lime & Minerals, Inc. is a manufacturer of lime and limestone products, serving various industries including construction, industrial, environmental, metals, agriculture, and oil and gas services [8]

Financial Performance - Revenues for Q1 2025 were $91.3 million, an increase of $19.6 million or 27.3% compared to Q1 2024's $71.7 million[2] - Gross profit for Q1 2025 was $46.2 million, reflecting an increase of $15.5 million or 50.8% from Q1 2024's $30.6 million[3] - Net income for Q1 2025 was $34.1 million ($1.19 per diluted share), up $11.7 million or 52.0% from Q1 2024's $22.4 million ($0.78 per diluted share)[6] - Other income for Q1 2025 was $3.1 million, an increase of $0.6 million compared to $2.5 million in Q1 2024[5] Expenses - Selling, general and administrative expenses increased to $6.3 million in Q1 2025, up $1.4 million or 29.2% from Q1 2024's $4.8 million[4] Assets and Equity - Current assets increased to $388.3 million as of March 31, 2025, compared to $354.8 million at the end of 2024[14] - Total assets rose to $585.3 million as of March 31, 2025, up from $543.2 million at the end of 2024[14] - Stockholders' equity increased to $532.2 million as of March 31, 2025, compared to $497.7 million at the end of 2024[14] Dividends - The company declared a quarterly cash dividend of $0.06 per share, payable on June 13, 2025[8] Market Demand - The company experienced solid demand from construction customers, driven by ongoing large construction projects[7]

Financial Performance - Total revenues for 2024 increased by 12.9% to $317.721 million, up from $281.330 million in 2023[148] - Gross profit rose by 40.0% in 2024, reaching $143.981 million compared to $102.867 million in 2023[148] - Net income increased by $34.3 million, or 46.0%, to $108.839 million in 2024, with diluted earnings per share rising to $3.79 from $2.61[151] - Revenues increased to $317.7 million in 2024 from $281.3 million in 2023, a growth of 12.9% driven by a 14.2% increase in average selling prices[173] - Gross profit rose to $144.0 million in 2024, up 40.0% from $102.9 million in 2023, primarily due to increased revenues[174] - Net income for 2024 was $108.8 million ($3.79 per diluted share), a 46.0% increase from $74.5 million ($2.61 per diluted share) in 2023[178] - Operating profit for 2024 increased to $124,923 million, a 46% rise from $85,422 million in 2023[226] - The company reported net income of $108,839,000 for 2024, up from $74,549,000 in 2023, reflecting a year-over-year increase of approximately 45.9%[257] Cash and Investments - Cash balances increased to $278.0 million as of December 31, 2024, compared to $188.0 million at the end of 2023[152] - The company anticipates funding operating and capital needs from cash balances and cash flows from operations, barring significant acquisition opportunities[156] - Cash and cash equivalents increased to $278,031,000 in 2024 from $187,964,000 in 2023, representing a 48% increase[224] - Net cash provided by operating activities was $126.0 million in 2024, an increase of 36.6% from $92.3 million in 2023[192] - The company has a $75 million revolving credit facility with no debt outstanding as of December 31, 2024[198] - The company believes cash on hand and cash flows from operations will be sufficient for ongoing capital needs and increased cash dividends[200] Capital Expenditures and Investments - The company made $27.4 million in capital investments in 2024 and paid $5.7 million in dividends[152] - Capital expenditures are expected to be approximately $22.0 million annually for recurring capital and re-equipping projects[191] - The company had $35.5 million in open orders for equipment and construction contracts as of December 31, 2024[191] - The company’s capitalized costs for construction in progress amounted to $8,098,000 in 2024, compared to $6,001,000 in 2023, indicating a growth of approximately 34.9%[247] Debt and Obligations - The company has no debt outstanding as of December 31, 2024[152] - Total contractual obligations as of December 31, 2024, amount to $57,959,000, with $40,955,000 due within one year[199] - The company had no off-balance sheet financing arrangements, ensuring transparency in financial reporting[201] Expenses and Costs - Selling, general and administrative expenses (SG&A) increased to $19.1 million in 2024, a rise of 9.2% compared to $17.4 million in 2023, with SG&A as a percentage of revenues decreasing to 5.9%[175] - Fuel, energy, and transportation expenses decreased to $82,232,000 in 2024 from $88,521,000 in 2023, a reduction of 7.3%[293] - Personnel expenses rose to $30,980,000 in 2024, up 6.1% from $29,209,000 in 2023[293] - Depreciation, depletion, and amortization expenses were $23,855,000 in 2024, slightly up from $23,533,000 in 2023[293] - The Company reported net operating lease costs of $2,522,000 for 2024, a decrease of 8.1% from $2,745,000 in 2023[270] Shareholder Returns - The company paid cash dividends of $5,716 million in 2024, an increase from $4,554 million in 2023[230] - The company paid cash dividends of $0.20 per share in 2024, an increase from $0.16 per share in both 2023 and 2022[258] - The Company declared an increased quarterly cash dividend of $0.06 per share on February 3, 2025, payable on March 14, 2025[294] Operational Efficiency - Modernization and expansion projects have improved production efficiency and reduced costs, enhancing the company's competitive position[161] - Other income increased to $11.5 million in 2024 from $7.9 million in 2023, attributed to higher interest earned on cash balances[176] Inventory and Receivables - Trade receivables rose to $43,982,000 in 2024, up from $38,052,000 in 2023, indicating a 15% increase[224] - As of December 31, 2024, total inventories increased to $27,686,000 from $24,313,000 in 2023, representing a growth of approximately 9.8%[246] Stock and Shareholder Actions - The Company approved an increase in authorized shares from 30 million to 45 million on May 2, 2024, followed by a 5-for-1 stock split on July 12, 2024[235] - The Company repurchased treasury shares for a total of $3.5 million in 2024, $1.3 million in 2023, and $0.8 million in 2022[199] - The Company repurchased 28,028 shares at a weighted-average price of $125.09 per share during 2024[284] Tax and Compliance - Current income tax expense increased to $28,544,000 in 2024, up 44.7% from $19,736,000 in 2023[273] - The Company had no federal net operating loss carry forwards as of December 31, 2024[274] Miscellaneous - The company operates solely in the United States, focusing on lime and limestone operations[289] - The chief executive officer serves as the Company's Chief Operating Decision Maker (CODM) for performance assessment and resource allocation[290]

Financial Performance - Revenues for Q4 2024 were $80.1 million, a 21.9% increase from $65.7 million in Q4 2023[2] - Full year 2024 revenues reached $317.7 million, up 12.9% from $281.3 million in 2023[3] - Gross profit for Q4 2024 was $35.4 million, reflecting a 50.2% increase from $23.6 million in Q4 2023[4] - Full year gross profit was $144.0 million, a 40.0% increase compared to $102.9 million in 2023[4] - Net income for Q4 2024 was $27.0 million ($0.94 per diluted share), up 58.8% from $17.0 million ($0.60 per diluted share) in Q4 2023[7] - Full year net income was $108.8 million ($3.79 per diluted share), a 46.0% increase from $74.5 million ($2.61 per diluted share) in 2023[7] Expenses and Dividends - SG&A expenses decreased by 5.8% in Q4 2024 to $4.4 million, while increasing by 9.2% for the full year to $19.1 million[5] - The company declared an increased quarterly cash dividend of $0.06 per share, payable on March 14, 2025[10] Market Outlook - The company experienced a slight decrease in overall demand compared to 2023 but remains optimistic for early 2025[8] Corporate Actions - The company executed a 5-for-1 stock split on July 12, 2024, with all share information adjusted accordingly[9]

Financial Performance - The Company reported fourth quarter 2024 revenues of $80.1 million, a 21.9% increase from $65.7 million in the fourth quarter 2023, driven by higher average selling prices and increased sales volumes to construction, environmental, and industrial customers [1][2] - For the full year 2024, revenues reached $317.7 million, up 12.9% from $281.3 million in 2023, with lime and limestone revenues increasing by 13.0% to $316.7 million [2] - Gross profit for the fourth quarter 2024 was $35.4 million, a 50.2% increase from $23.6 million in the fourth quarter 2023, and for the full year, gross profit was $144.0 million, up 40.0% from $102.9 million [3] Expenses and Income - Selling, general and administrative (SG&A) expenses in the fourth quarter 2024 were $4.4 million, a decrease of 5.8% from $4.6 million in the fourth quarter 2023, while full year SG&A expenses increased by 9.2% to $19.1 million [4] - Other income for the fourth quarter and full year 2024 was $3.1 million and $11.5 million, respectively, reflecting increases from $2.4 million and $7.9 million in the previous year [5] - The Company reported net income of $27.0 million ($0.94 per share diluted) for the fourth quarter 2024, a 58.8% increase from $17.0 million in the fourth quarter 2023, and for the full year, net income was $108.8 million ($3.79 per share diluted), up 46.0% from $74.5 million [6] Stock and Dividends - The Company executed a 5-for-1 stock split on July 12, 2024, with all share and per share information adjusted retroactively [8] - The Board of Directors declared an increased quarterly cash dividend of $0.06 per share, payable on March 14, 2025 [9] Company Overview - United States Lime & Minerals, Inc. is a manufacturer of lime and limestone products, serving various industries including construction, industrial, environmental, metals, roof shingle manufacturing, agriculture, and oil and gas services [10]

Core Viewpoint - United States Lime & Minerals, Inc. reported strong financial results for the fourth quarter and full year 2024, with significant increases in revenues, gross profit, and net income compared to the previous year [1][2][6]. Financial Performance - Fourth quarter 2024 revenues were $80.1 million, up 21.9% from $65.7 million in Q4 2023, driven by higher average selling prices and increased sales volumes [1]. - Full year 2024 revenues reached $317.7 million, a 12.9% increase from $281.3 million in 2023, attributed to higher selling prices, despite a decrease in sales volumes from construction customers [2]. - Gross profit for Q4 2024 was $35.4 million, a 50.2% increase from $23.6 million in Q4 2023, and for the full year, gross profit was $144.0 million, up 40.0% from $102.9 million in 2023 [3]. - Net income for Q4 2024 was $27.0 million ($0.94 per share diluted), a 58.8% increase from $17.0 million ($0.60 per share diluted) in Q4 2023, while full year net income was $108.8 million ($3.79 per share diluted), up 46.0% from $74.5 million ($2.61 per share diluted) in 2023 [6]. Expenses - Selling, general and administrative (SG&A) expenses in Q4 2024 were $4.4 million, a decrease of 5.8% from $4.6 million in Q4 2023, while full year SG&A expenses increased to $19.1 million, up 9.2% from $17.4 million in 2023 due to higher personnel costs [4]. Other Income - Other income for Q4 2024 was $3.1 million, compared to $2.4 million in Q4 2023, and for the full year, it was $11.5 million, up from $7.9 million in 2023, primarily due to interest earned on higher cash balances [5]. Stock and Dividend Information - The company executed a 5-for-1 stock split on July 12, 2024, with all share information adjusted accordingly [8]. - A quarterly cash dividend of $0.06 per share was declared, payable on March 14, 2025 [9]. Company Overview - United States Lime & Minerals, Inc. is a manufacturer of lime and limestone products, serving various industries including construction, industrial, environmental, and agriculture, with operations across multiple states [10].

Financial Performance - For the three months ended September 30, 2024, revenues increased to $89,427 thousand, a 19.4% increase from $74,878 thousand in the same period of 2023[9] - Gross profit for the three months ended September 30, 2024, was $43,113 thousand, representing a gross margin of 48.2%, compared to 37.6% in the same period of 2023[9] - Net income for the three months ended September 30, 2024, was $33,353 thousand, a 60.8% increase from $20,733 thousand in the same period of 2023[9] - Basic net income per share for the three months ended September 30, 2024, was $1.17, compared to $0.73 for the same period in 2023[9] - Net income for the nine months ended September 30, 2024, was $81,849,000, compared to $57,549,000 for the same period in 2023, representing an increase of 42.2%[15] - Total revenues for the nine months ended September 30, 2024, were $237,659,000, up from $215,638,000 in the same period of 2023, reflecting a year-over-year increase of 10.2%[26] - Net income for Q3 2024 was $33,353,000, compared to $20,733,000 in Q3 2023, marking a significant increase of 60.9%[28] - Basic net income per common share rose to $1.17 in Q3 2024 from $0.73 in Q3 2023, an increase of 60.3%[28] Assets and Liabilities - Total assets as of September 30, 2024, were $521,759 thousand, up from $440,602 thousand as of December 31, 2023[5] - The company reported total liabilities of $47,545 thousand as of September 30, 2024, slightly up from $47,498 thousand as of December 31, 2023[5] - Total stockholders' equity as of September 30, 2024, was $474,214 thousand, an increase from $393,104 thousand as of December 31, 2023[7] - The company had no debt outstanding as of September 30, 2024, and only $0.5 million in letters of credit drawn against its revolving credit facility[35] Cash Flow and Dividends - Cash and cash equivalents increased to $255,022 thousand as of September 30, 2024, compared to $187,964 thousand as of December 31, 2023[5] - Cash dividends paid increased to $4,287,000 for the nine months ended September 30, 2024, from $3,415,000 in the same period of 2023, reflecting a rise of 25.5%[15] - Net cash provided by operating activities was $87,414,000 for the nine months ended September 30, 2024, compared to $64,682,000 for the same period in 2023, indicating a growth of 35.1%[15] - Total cash and cash equivalents at the end of the period increased to $255,022,000 as of September 30, 2024, up from $176,305,000 at the same time in 2023, marking a rise of 44.5%[15] Capital Expenditures and Investments - The company purchased property, plant, and equipment totaling $16,371,000 for the nine months ended September 30, 2024, down from $20,541,000 in the same period of 2023, a decrease of 20.9%[15] - Capital expenditures for the lime and limestone operations segment were $9,547,000 in Q3 2024, down from $15,090,000 in Q3 2023, a decrease of 36.1%[26] - Capital expenditures totaled $16.4 million in the first nine months of 2024, down from $20.5 million in the same period of 2023[46] - The company received a permit to construct a new vertical kiln at its Texas Lime Company facility, with estimated costs of approximately $65 million[45] Stock and Shareholder Information - The company has 28,594,270 shares of common stock outstanding as of October 29, 2024[3] - The company approved an increase in the number of authorized shares of common stock from 30,000,000 to 45,000,000 on May 2, 2024[18] - A 5-for-1 stock split was executed on July 12, 2024, retroactively adjusting all share and per share information[18] - The company declared cash dividends of $0.05 per share in Q3 2024, compared to $0.04 per share in Q3 2023, representing a 25% increase[29] Operational Insights - The company operates lime and limestone plants and distribution facilities across multiple states, including Arkansas, Colorado, Louisiana, Missouri, Oklahoma, and Texas[20] - Revenues for the lime and limestone operations segment increased to $89,212,000 in Q3 2024 from $74,582,000 in Q3 2023, representing a growth of 19.8%[26] - Revenues from lime and limestone operations rose 19.6% in Q3 2024, driven by a 14.2% increase in average selling prices and a 5.4% increase in sales volumes[44] - The company experienced decreased sales volumes of lime and limestone products, primarily due to reduced demand from construction customers[48] Tax and Regulatory Information - The effective income tax rate for 2024 is estimated to be 19.9%, primarily due to statutory depletion differences[39] - Future minimum lease payments total $5,666,000, with a present value of lease liabilities at $5,164,000 as of September 30, 2024[37] Other Income and Expenses - SG&A expenses rose to $5.0 million in the third quarter of 2024, an increase of 14.3% from $4.4 million in the third quarter of 2023[48] - Other income for the first nine months of 2024 was $8.4 million, compared to $5.5 million in the same period of 2023, reflecting an increase of $2.9 million[48] - Income tax expense for the first nine months of 2024 was $20.4 million, up from $14.4 million in the same period of 2023, due to increased income before taxes[48] - The increase in gross profit for the first nine months of 2024 was primarily due to increased revenues and decreased operating expenses attributed to lower natural gas prices[48] Board and Governance - The Board of Directors increased its size from five to seven directors, appointing two new independent directors effective November 1, 2024[53]

Financial Performance - The Company's revenues for Q3 2024 were $89.4 million, a 19.4% increase from $74.9 million in Q3 2023[1] - Lime and limestone revenues in Q3 2024 were $89.2 million, up 19.6% from $74.6 million in Q3 2023[1] - Gross profit for Q3 2024 was $43.1 million, reflecting a 53.1% increase from $28.2 million in Q3 2023[1] - Net income for Q3 2024 was $33.4 million ($1.16 per diluted share), a 60.9% increase from $20.7 million ($0.73 per diluted share) in Q3 2023[1] - For the first nine months of 2024, revenues were $237.7 million, a 10.2% increase from $215.6 million in the same period of 2023[1] - The Company reported a gross profit of $108.5 million for the first nine months of 2024, up 36.9% from $79.3 million in the same period of 2023[1] Expenses - Selling, general and administrative expenses for Q3 2024 were $5.0 million, a 14.3% increase from $4.4 million in Q3 2023[1] Dividends - The Company declared a regular quarterly cash dividend of $0.05 per share, payable on December 13, 2024[4] Assets and Equity - Current assets increased to $338.5 million as of September 30, 2024, compared to $254.9 million at the end of 2023[6] - Stockholders' equity rose to $474.2 million as of September 30, 2024, compared to $393.1 million at the end of 2023[6]

Financial Performance - Revenues for Q2 2024 reached $76,545,000, a 3.8% increase from $73,983,000 in Q2 2023[7] - Net income for Q2 2024 was $26,057,000, representing a 32.2% increase from $19,712,000 in Q2 2023[7] - Basic and diluted net income per share increased to $0.91 in Q2 2024, up from $0.69 in Q2 2023[7] - Net income for the six months ended June 30, 2024, was $48,496,000, an increase of 31.7% compared to $36,816,000 for the same period in 2023[12] - Total revenues for the six months ended June 30, 2024, were $148,232,000, up 5.5% from $140,760,000 in the prior year[23] - Gross profit from lime and limestone operations for the six months ended June 30, 2024, was $65,511,000, representing a 28.1% increase from $51,179,000 in 2023[23] - Operating profit for lime and limestone operations for the six months ended June 30, 2024, was $55,788,000, a 30.6% increase compared to $42,708,000 in the same period last year[23] - Gross profit for Q2 2024 was $34.8 million, up 28.3% from Q2 2023, and $65.4 million for the first six months, an increase of 28.0% year-over-year[44] - Net cash provided by operating activities increased by $8.1 million, or 20.1%, to $48.4 million in the first six months of 2024 compared to the same period in 2023[41] Assets and Liabilities - Total current assets increased to $299,551,000 as of June 30, 2024, compared to $254,969,000 at the end of 2023[5] - Total liabilities decreased to $43,066,000 as of June 30, 2024, down from $47,498,000 at the end of 2023[5] - Stockholders' equity rose to $441,089,000 as of June 30, 2024, compared to $393,104,000 at the end of 2023[5] - Cash and cash equivalents increased to $222,501,000 as of June 30, 2024, up from $187,964,000 at the end of 2023[5] - Cash and cash equivalents at the end of the period increased to $222,501,000 from $156,198,000, reflecting a 42.3% rise[12] - As of June 30, 2024, inventories totaled $27.3 million, up 12.2% from $24.3 million on December 31, 2023, with raw materials increasing by 11.3% and finished goods by 35.2%[27] - The identifiable assets at the end of the period totaled $484,155,000, up from $402,372,000 in the previous year[23] Capital Expenditures and Investments - Capital expenditures for lime and limestone operations in the six months ended June 30, 2024, were $11,220,000, down from $15,432,000 in the prior year[23] - Capital expenditures were $11.2 million in the first six months of 2024, down from $15.4 million in the same period of 2023[42] Shareholder Actions - The company approved an increase in authorized shares from 30,000,000 to 45,000,000 on May 2, 2024, followed by a 5-for-1 stock split on July 12, 2024[15] - The Company declared a regular quarterly cash dividend of $0.05 per share on July 31, 2024, payable on September 13, 2024[37] - The Company paid cash dividends of $0.05 and $0.10 per share for the three and six months ended June 30, 2024, compared to $0.04 and $0.08 per share for the same periods in 2023, reflecting a 25% increase in the six-month dividend[26] Management and Compensation - Timothy W. Byrne's employment term extended by four years to December 31, 2028, with annual renewals unless one year notice is given[49] - Byrne's minimum annual base salary increased to $555,000 for 2024[49] - Annual cash bonus opportunities tied to EBITDA performance will be adjusted to reflect recent increases in both Company EBITDA and Byrne's salary[49] - Byrne's equity awards reduced from 37,500 stock options to none, and restricted stock granted reduced from 62,500 to 47,500 shares[49] - The one-year vesting period for restricted stock grants remains unchanged, with immediate vesting for the final year's grant upon termination of employment[49] - The 2024 Amendments to the Agreement effective August 1, 2024, include updates to the Company's compensation recovery policy[49] Operational Insights - The Company is focused on expanding its lime and limestone operations through projects and acquisitions, contingent on obtaining necessary financing and integrating new operations[39] - The Company anticipates that its plans and strategies may be affected by various risks, including market conditions and regulatory changes, which could impact future performance[39] Debt and Credit Facilities - The company has no debt outstanding and no draws on the revolving credit facility, with $0.5 million in letters of credit as of June 30, 2024[42] - The Company has a $75 million revolving credit facility with Wells Fargo Bank, with an additional accordion feature allowing for up to $50 million in incremental borrowing, maturing on August 3, 2028[28] Tax and Lease Obligations - The effective income tax rate for 2024 is estimated at 20.5%, primarily due to statutory depletion differences[35] - Future minimum lease payments total $5.153 million, with the present value of lease liabilities at $4.849 million as of June 30, 2024[33] - Cash payments for lease liabilities included in operating cash flows were $931,000 for the six months ended June 30, 2024, compared to $812,000 for the same period in 2023, indicating a 14.7% increase[34]

Financial Performance - Revenues for Q2 2024 were $76.5 million, a 3.5% increase from $74.0 million in Q2 2023[1] - Gross profit for Q2 2024 was $34.8 million, reflecting a 28.3% increase from $27.1 million in Q2 2023[1] - Net income for Q2 2024 was $26.1 million ($0.91 per diluted share), up 32.2% from $19.7 million ($0.69 per diluted share) in Q2 2023[1] - Lime and limestone revenues in Q2 2024 were $76.3 million, a 3.5% increase from $73.7 million in Q2 2023[1] Expenses - SG&A expenses increased to $4.9 million in Q2 2024, a 13.0% rise from $4.3 million in Q2 2023[1] - Other (income) expense, net was $2.8 million in Q2 2024, compared to $1.8 million in Q2 2023, an increase of $1.0 million[1] Assets and Dividends - Total assets as of June 30, 2024, were $484.2 million, up from $440.6 million at the end of 2023[1] - The company declared a quarterly cash dividend of $0.05 per share, payable on September 13, 2024[3] Market Conditions - The company experienced reduced demand from construction customers due to adverse weather conditions[1] Corporate Actions - A 5-for-1 stock split was executed on July 12, 2024, affecting all share and per share information[2]