Financial Performance - Revenues increased by 22.2% in Q1 2022, reaching $50.9 million compared to $41.7 million in Q1 2021, driven by a 19.4% increase in sales volumes and a 2.2% rise in average selling prices[39][51] - Gross profit rose by 22.5% in Q1 2022 to $14.5 million, up from $11.8 million in Q1 2021, primarily due to increased revenues, partially offset by higher production costs[40][52] - Net income for Q1 2022 was $8.7 million ($1.53 per diluted share), a 23.3% increase from $7.0 million ($1.24 per diluted share) in Q1 2021[56] Acquisitions and Investments - The company acquired Mill Creek for $5.9 million in cash, which contributed $0.8 million to revenues in Q1 2022[38] - Capital expenditures totaled $11.4 million in Q1 2022, including $5.9 million for the Mill Creek acquisition, compared to $4.5 million in Q1 2021[45] Expenses and Costs - SG&A expenses increased by 18.5% to $3.6 million in Q1 2022, primarily due to higher personnel costs[53] - The company continues to face rising costs, particularly in energy and transportation, and is increasing prices for its products to mitigate these effects[41] Cash Flow and Dividends - Net cash provided by operating activities decreased by 30.7% to $8.1 million in Q1 2022 from $11.6 million in Q1 2021[43] - The company declared a quarterly cash dividend of $0.20 per share, payable on June 17, 2022[42] - The company had no outstanding debt as of March 31, 2022, and cash and cash equivalents decreased to $100.9 million from $105.4 million at the end of 2021[50] Interest Rate Risk - The company is exposed to interest rate risk due to floating interest rates on the Revolving Facility[57] - As of March 31, 2022, there was no outstanding balance on the Revolving Facility subject to interest rate risk[57] - Future borrowings under the Revolving Facility will be subject to interest rate risk[57]

Revenue Growth - Lime and limestone revenues increased by 17.3% in 2021, totaling $187.365 million compared to $159.707 million in 2020[135]. - Total revenues rose to $189.255 million in 2021, a 17.8% increase from $160.704 million in 2020[135]. - Revenues for 2021 increased to $189.3 million, up $28.6 million or 17.8% from 2020, driven by a 17.3% increase in Lime and Limestone Operations revenues[168]. - Revenues for Lime and limestone operations in Q4 2021 were $45,518,000, a decrease of 12.5% from Q3 2021[1]. Profitability - Gross profit increased by 24.5% in 2021, reaching $59.260 million, driven by higher revenues and operating efficiencies[142]. - Gross profit for 2021 rose to $59.3 million, an increase of $11.7 million or 24.5% compared to 2020, primarily due to increased revenues and operating efficiencies[169]. - Net income for 2021 was $37.045 million, reflecting a 31.3% increase from $28.223 million in 2020[142]. - Net income for 2021 increased to $37.0 million ($6.54 per share diluted), a rise of $8.8 million or 31.3% from 2020[173]. - Net income for Q4 2021 was $7,613,000, representing a 32.5% decrease compared to Q3 2021[1]. - Basic income per common share for Q4 2021 was $1.35, down from $2.00 in Q3 2021, a decline of 32.5%[1]. Expenses and Costs - Selling, general and administrative expenses (SG&A) for 2021 were $12.8 million, a 5.5% increase from 2020, but as a percentage of revenues, SG&A decreased to 6.8%[170]. - Rising energy and supply costs are expected to impact profitability, prompting the company to increase product prices[149]. - The average price for lime and limestone products increased by 0.9% in 2021 compared to 2020, despite competitive pressures[168]. - The company continues to focus on increasing lime and limestone prices to offset rising costs amid competitive pressures[157]. Cash and Financial Position - Cash balances increased to $105.4 million as of December 31, 2021, up from $83.6 million in 2020, with no debt outstanding[143]. - Net cash provided by operating activities in 2021 was $55.7 million, a decrease of 4.9% from $58.6 million in 2020[5]. - The company has a $75 million revolving credit facility with no outstanding debt as of December 31, 2021[9]. - Cash and cash equivalents increased to $105.4 million as of December 31, 2021, up from $83.6 million at the end of 2020[8]. - Total contractual obligations as of December 31, 2021, amounted to $13,618,000, with $5,862,000 due within one year[10]. - The company plans to utilize cash on hand and cash flows from operations to meet ongoing capital needs and pay regular cash dividends[11]. - There was no outstanding balance on the Revolving Facility subject to interest rate risk at December 31, 2021[12]. Strategic Initiatives - The company acquired Mill Creek for $5.9 million in February 2022, complementing its existing operations[139]. - Demand for lime and limestone products increased due to growth in construction, steel, environmental, industrial, roofing, and agriculture sectors[141]. - The company anticipates funding its operating and capital needs from cash balances and cash flows from operations in 2022[144]. - Future operational strategies include exploring acquisitions to expand production capacity as opportunities arise[158]. - Capital expenditures are expected to be approximately $14.0 million annually for Lime and Limestone Operations to maintain efficiency and compliance[4]. Taxation - The effective income tax rate for 2021 was 20.4%, up from 17.2% in 2020, primarily due to increased income before taxes[172].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ........ to ........ Commission file number is 000-04197 UNITED STATES LIME & MINERALS, INC. (Exact name of registrant as specified in its charter) (State ...

Revenue and Profit Growth - Lime and limestone revenues increased by 30.5% in Q2 2021 and 19.2% in the first six months of 2021 compared to the same periods in 2020[43] - Gross profit from lime and limestone operations rose by 58.8% in Q2 2021 and 38.7% in the first six months of 2021 compared to the same periods in 2020[44] - Revenues in Q2 2021 were $49.2 million, a 30.9% increase from $37.5 million in Q2 2020[57] - Revenues from lime and limestone operations in Q2 2021 increased by $11.4 million, or 30.5%, to $48.7 million compared to Q2 2020[57] - Gross profit for Q2 2021 was $16.8 million, an increase of 62.2% from $10.4 million in Q2 2020[58] - Revenues for the first six months of 2021 were $90.8 million, a 19.5% increase from $76.0 million in the first six months of 2020[57] - Gross profit for the first six months of 2021 was $28.6 million, an increase of 41.3% from $20.2 million in the first six months of 2020[58] - Net income in Q2 2021 was $11.1 million ($1.96 per share diluted), an increase of 81.8% from $6.1 million ($1.08 per share diluted) in Q2 2020[62] - Net income for the first six months of 2021 was $18.1 million ($3.20 per share diluted), a 55.6% increase from $11.6 million ($2.07 per share diluted) in the first six months of 2020[62] Operating Cash Flow and Expenses - Net cash provided by operating activities was $27.4 million in the first six months of 2021, a slight increase of 0.9% from $27.1 million in the same period of 2020[49] - SG&A expenses in Q2 2021 were $3.0 million, a slight increase of 2.6% from $2.9 million in Q2 2020[59] - Income tax expense in Q2 2021 was $2.8 million, compared to $1.4 million in Q2 2020[61] - Interest expense remained stable at $62 thousand in Q2 2021, the same as in Q2 2020[60] Capital Expenditures and Financial Position - Capital expenditures in the first six months of 2021 totaled $17.8 million, up from $10.6 million in the same period of 2020[50] - Cash and cash equivalents increased by $7.8 million to $91.3 million as of June 30, 2021, from $83.6 million at December 31, 2020[51] - The company has a $75 million revolving credit facility with Wells Fargo Bank, with an additional accordion feature to borrow up to $50 million[52] - The company had no debt outstanding and no draws on the revolving facility other than $0.4 million of letters of credit as of June 30, 2021[56] Market Conditions and Challenges - The acquisition of Carthage Crushed Limestone contributed $2.5 million and $4.7 million to revenues for the three- and six-month periods ended June 30, 2021, respectively[41] - The average selling prices for lime and limestone products increased by 2.2% in Q2 2021 and 1.8% in the first six months of 2021[43] - The company anticipates challenges in labor and supply availability and costs as the economy adjusts to reopening[46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ........ to ........ Commission file number is 000-04197 UNITED STATES LIME & MINERALS, INC. (Exact name of registrant as specified in its charter) (State or ...

Financial Performance - Revenues increased by 1.5% in 2020 compared to 2019, with Lime and Limestone Operations revenues rising by 1.7% primarily due to the addition of limestone sales from the Carthage acquisition[144]. - Gross profit increased by 14.2% in 2020 compared to 2019, driven by higher average selling prices for lime and limestone products and lower fuel costs[145]. - Net income rose by $2.2 million, or 8.3%, in 2020, with net income per fully diluted share increasing to $5.00 from $4.64 in 2019[147]. - Revenues for 2020 increased to $160.7 million, up $2.4 million or 1.5% from $158.3 million in 2019, driven by a 1.7% increase in Lime and Limestone Operations revenues[180]. - Gross profit for 2020 rose to $47.6 million, an increase of $5.9 million or 14.2% compared to $41.7 million in 2019, primarily due to higher selling prices and lower fuel costs[181]. - Net income for 2020 was $28.2 million, or $5.00 per share diluted, reflecting an increase of $2.2 million or 8.3% from $26.1 million in 2019[187]. - Net cash provided by operating activities was $58.6 million in 2020, compared to $47.0 million in 2019, an increase of $11.6 million, or 24.6%[199]. Acquisitions and Investments - The Carthage acquisition contributed $4.6 million to revenues in 2020, enhancing the company's geographic footprint[140]. - Cash flows from operations enabled $17.1 million in capital investments, including the Carthage acquisition, and increased cash balances to $83.6 million as of December 31, 2020[147]. - The company expects to spend approximately $14.0 million per year in Lime and Limestone Operations for capital and re-equipping projects[198]. - Net cash used in investing activities was $25.2 million for 2020, compared to $26.5 million for 2019, including $8.4 million for the acquisition of Carthage[200]. Operational Efficiency - The company has modernized and expanded its facilities, resulting in lower production costs and greater operating efficiencies, particularly with the new fuel-efficient kiln at the St. Clair facility[155]. - Selling, general and administrative expenses (SG&A) increased to $12.2 million in 2020, up $0.7 million or 5.8% from $11.5 million in 2019, with SG&A as a percentage of revenues at 7.6%[182]. Market Demand and Challenges - Demand for lime and limestone products from construction customers increased in 2020, while demand from oil and gas services, environmental, and steel customers decreased due to economic conditions[151]. - The ongoing impact of the COVID-19 pandemic has created uncertainty and economic disruption, affecting demand and pricing for lime and limestone products[153]. - The company faces challenges from volatile energy costs and must maintain or increase product prices to offset increased costs amid competitive pressures[159]. Tax and Financial Obligations - The effective income tax rate for 2020 was 17.2%, up from 15.7% in 2019, primarily due to increased income before taxes[186]. - Total contractual obligations as of December 31, 2020, amounted to $14.7 million, with significant future lease payments due[209]. - The company plans to maintain compliance with credit agreement provisions to pay dividends and repurchase shares, contingent on the Cash Flow Leverage Ratio[206]. Debt and Credit Facilities - The credit agreement provides for a $75 million revolving credit facility, with an additional $50 million accordion feature, maturing on May 2, 2024[202]. - The company had no debt outstanding as of December 31, 2020 or 2019, with $0.4 million of letters of credit issued under the Revolving Facility[207].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ........ to ........ Commission file number is 000-04197 UNITED STATES LIME & MINERALS, INC. (Exact name of registrant as specified in its charter) (State ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ........ to ........ Commission file number is 000-04197 Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from ........ to ........ Commission file number is 000-04197 UNITED STATES LIME & MINERALS, INC. Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) (State or ...

Revenue and Profitability - Revenues increased by 9.6% in 2019 compared to 2018, with Lime and Limestone Operations revenues rising by 10.6% due to an 8.6% increase in sales volumes and a 2.0% increase in average product prices [112]. - Revenues for 2019 increased to $158.3 million from $144.4 million in 2018, an increase of $13.8 million, or 9.6% [155]. - Revenues from Lime and Limestone Operations in 2019 increased $15.1 million, or 10.6%, to $157.0 million from $141.9 million in 2018, primarily due to increased sales volumes and a 2.0% average price increase [155]. - Gross profit increased by 36.7% in 2019, with Lime and Limestone Operations gross profit rising by 42.6%, attributed to increased revenues, lower fuel costs, and improved operating efficiencies from a new kiln [115]. - Gross profit increased to $41.7 million for 2019 from $30.5 million for 2018, an increase of $11.2 million, or 36.7% [156]. - Total gross profit for 2019 was $41,676, an increase of 36.9% from $30,486 in 2018 [274]. - Operating profit for lime and limestone operations reached $30,543 in 2019, a significant increase from $18,998 in 2018 [274]. - Net income rose by $6.4 million, or 32.4%, in 2019, with net income per fully diluted share increasing to $4.64 from $3.51 in 2018 [117]. - Net income increased to $26.1 million ($4.64 per share diluted) in 2019, compared to $19.7 million ($3.51 per share diluted) in 2018, an increase of $6.4 million, or 32.4% [161]. - Net income for 2019 was $26,056, a 32.5% increase from $19,685 in 2018 [205]. Capital Expenditures and Investments - Capital investments totaled $27.1 million in 2019, while dividends paid amounted to $33.1 million, including a special cash dividend of $30.0 million [118]. - The new kiln at St. Clair began producing commercially salable quicklime in Q2 2019, with total expenditures on the kiln and modernization project reaching $44.2 million, expected to total approximately $50 million upon completion [119]. - The company expects to spend approximately $12.0 million per year over the next several years for capital and re-equipping projects in Lime and Limestone Operations [170]. - Capital expenditures related to environmental matters were $1,156,000 in 2019, slightly up from $1,152,000 in 2018 [236]. - Capital expenditures for lime and limestone operations in 2019 totaled $27,100, a decrease of 49.6% from $53,762 in 2018 [274]. Cash Flow and Liquidity - Net cash provided by operating activities was $47.0 million in 2019, compared to $38.7 million in 2018, an increase of $8.3 million, or 21.4% [171]. - Cash dividends paid in 2019 totaled $33,058, significantly higher than $3,022 in 2018 [213]. - The company believes that cash on hand and cash flows from operations will be sufficient to meet operating and capital needs, including modernization and expansion projects [179]. - The company had no debt outstanding as of December 31, 2019, and had $0.4 million of letters of credit issued under the Revolving Facility [177]. - Cash and cash equivalents decreased to $54,260 at the end of 2019 from $67,218 at the end of 2018, a decline of 19.3% [213]. - The company’s cash and cash equivalents at commercial banking institutions exceeded federally insured limits, indicating a strong liquidity position [222]. Dividends and Shareholder Returns - A special cash dividend of $30.0 million was paid in Q4 2019, with an increased regular quarterly cash dividend of $0.16 declared for 2020 [120]. - The company paid cash dividends of $5.89 per share in 2019, which included a special dividend of $5.35 per share [240]. - The company declared an increased quarterly cash dividend of $0.16 per share on January 30, 2020 [277]. Tax and Regulatory Matters - The effective income tax rate for 2019 was 15.7%, compared to 8.7% in 2018, reflecting an increase in income tax expense of $3.0 million [160]. - The income tax expense for 2019 was $4,844, representing 15.7% of pretax income, compared to $1,883 (8.7%) in 2018 and a benefit of $(2,205) in 2017 [256]. - Deferred tax liabilities increased to $17,218 in 2019 from $12,365 in 2018, primarily due to lime and limestone property, plant, and equipment [258]. Impairments and Losses - The company recognized an impairment charge of $0.9 million in 2019 related to long-lived assets due to decreased prices for natural gas and natural gas liquids [158]. - The Company reported an impairment charge of $930,000 in 2019 related to its natural gas interests due to decreased prices for natural gas and natural gas liquids [229]. - Other segment reported an operating loss of $1,297 in 2019, impacted by a $930 impairment charge [274]. Operational Efficiency and Challenges - The company is focused on maintaining and increasing lime and limestone prices to offset rising costs amid competitive pressures [132]. - Modernization and expansion projects have enhanced production capacity and efficiency, although demand and prices have not fully utilized this capacity [133]. - Selling, general and administrative expenses (SG&A) increased to $11.5 million for 2019, an increase of $1.0 million, or 9.7% [157]. Assets and Liabilities - Total assets as of December 31, 2019, were $247,037, a slight increase from $244,671 in 2018 [203]. - Total liabilities increased to $29,905 in 2019 from $21,704 in 2018, marking a 37.8% rise [203]. - Total contractual obligations as of December 31, 2019, amounted to $14.225 million, with $3.322 million in operating leases and $7.928 million in purchase obligations [178]. Miscellaneous - The company recognized revenue from external freight billed to customers of $28,397,000 in 2019, compared to $25,637,000 in 2018, indicating a growth of approximately 6.9% [218]. - The total inventory value as of December 31, 2019, was $13,388,000, a slight increase from $12,846,000 in 2018 [224]. - The allowance for doubtful accounts decreased to $361,000 in 2019 from $430,000 in 2018, reflecting improved credit management [223]. - The carrying value of the Company’s asset retirement obligations (AROs) was $1,482,000 as of December 31, 2019, down from $1,519,000 in 2018 [231]. - The company has adopted a new accounting principle for leases effective January 1, 2019, using the modified retrospective method [189].