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]

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, 2024 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 ...

UNITED STATES LIME & MINERALS, INC. — NEWS RELEASE FOR IMMEDIATE RELEASE Contact: Timothy W. Byrne (972) 991-8400 Exhibit 99.1 UNITED STATES LIME & MINERALS REPORTS FIRST QUARTER 2024 RESULTS AND DECLARES REGULAR QUARTERLY CASH DIVIDEND Dallas, Texas, April 30, 2024 - United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported first quarter 2024 results: The Company's revenues in the first quarter 2024 were $71.7 million, compared to $66.8 million in the first quarter 2023, an increase of $4.9 million ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 000-04197 United States Lime & Minerals, Inc. (Exact name of Registrant as specified in its charter) Texas (State or other jurisdiction of incorporation ...

Revenue Growth - Revenues increased by 12.7% in Q3 2023 to $74.9 million, and by 21.2% for the first nine months to $215.6 million compared to the same periods in 2022[52] - Lime and limestone operations revenues rose by 13.5% in Q3 2023 to $74.6 million, and by 22.3% for the first nine months to $214.8 million compared to the same periods in 2022[52] - Average selling prices for lime and limestone products increased by 17.5% in Q3 2023 and by 22.3% in the first nine months of 2023, despite a 4.0% decrease in sales volumes in Q3 2023[42] Profitability - Gross profit increased by 24.6% in Q3 2023 to $28.2 million, and by 48.1% for the first nine months to $63.5 million compared to the same periods in 2022[43] - Gross profit for the first nine months of 2023 was $79.3 million, an increase of $25.7 million, or 48.1%, compared to $53.5 million in the same period of 2022[55] - The gross profit from lime and limestone operations in the first nine months of 2023 was $79.3 million, an increase of $27.0 million, or 51.6%, from $52.3 million in the same period of 2022[55] Net Income - Net income for the third quarter of 2023 was $20.7 million ($3.63 per share diluted), an increase of $5.0 million, or 31.8%, compared to $15.7 million ($2.77 per share diluted) in the third quarter of 2022[59] - For the first nine months of 2023, net income was $57.5 million ($10.09 per share diluted), an increase of $22.9 million, or 66.2%, from $34.6 million ($6.10 per share diluted) in the same period of 2022[59] Cash Flow and Expenditures - Net cash provided by operating activities was $64.7 million in the first nine months of 2023, an increase of 47.3% from $43.9 million in the same period of 2022[44] - Capital expenditures totaled $20.5 million in the first nine months of 2023, down from $23.8 million in the same period of 2022, which included $5.6 million for the acquisition of Mill Creek[46] - Cash and cash equivalents increased by $42.9 million to $176.3 million as of September 30, 2023, compared to $133.4 million at December 31, 2022[46] Expenses - SG&A expenses in the third quarter of 2023 were $4.4 million, up $0.8 million, or 22.9%, from $3.5 million in the third quarter of 2022[56] - SG&A expenses for the first nine months of 2023 totaled $12.8 million, an increase of $1.8 million, or 16.3%, from $11.0 million in the same period of 2022[56] Tax and Other Expenses - Income tax expense for the first nine months of 2023 was $14.4 million, compared to $8.5 million in the same period of 2022, reflecting an increase due to higher income before taxes[58] - Other (income) expense, net was $5.5 million for the first nine months of 2023, an increase of $4.9 million compared to $0.6 million in the same period of 2022, primarily due to higher interest rates[57] Debt and Credit Facilities - The company had no debt outstanding and no draws on the revolving credit facility, except for $0.3 million in letters of credit as of September 30, 2023[51] - There was no outstanding debt during any of the periods reported[57] - The credit agreement provides for a $75 million revolving credit facility, maturing on August 3, 2028, with an incremental feature to borrow up to an additional $50 million[48] - The company is exposed to interest rate risk due to potential future borrowings under the Revolving Facility, which had no outstanding balance as of September 30, 2023[60] Market Outlook - The company anticipates continued weak demand in key markets due to inflation, higher interest rates, and geopolitical uncertainties[42]

Revenue Growth - Revenues increased by 22.3% in Q2 2023, reaching $74.0 million, compared to $60.5 million in Q2 2022[53] - Revenues for the first six months of 2023 rose by 26.4% to $140.8 million, up from $111.4 million in the same period of 2022[53] - Lime and limestone operations contributed $73.7 million in Q2 2023, a 23.6% increase from $59.6 million in Q2 2022[53] - For the first six months of 2023, lime and limestone revenues were $140.2 million, reflecting a 27.6% increase from $109.9 million in the same period of 2022[53] - Average selling prices for lime and limestone products increased by 21.3% in Q2 2023 and 22.5% in the first six months of 2023[43] Profitability - Gross profit surged by 64.6% in Q2 2023 and 65.2% in the first six months of 2023, driven by increased revenues despite rising production costs[44] - Gross profit for Q2 2023 was $27.1 million, a 64.6% increase from $16.5 million in Q2 2022[54] - Gross profit from lime and limestone operations in Q2 2023 was $27.1 million, up 69.8% from $16.0 million in Q2 2022[54] - Gross profit for the first six months of 2023 was $51.1 million, a 65.2% increase from $30.9 million in the first six months of 2022[55] - The increase in gross profit in 2023 was primarily due to increased revenues, partially offset by higher production costs[54] Net Income - Net income for Q2 2023 was $19.7 million ($3.45 per share diluted), a 92.5% increase from $10.2 million ($1.80 per share diluted) in Q2 2022[59] - Net income for the first six months of 2023 was $36.8 million ($6.46 per share diluted), a 94.7% increase from $18.9 million ($3.33 per share diluted) in the first six months of 2022[59] Cash Flow and Liquidity - Net cash provided by operating activities was $40.3 million in the first six months of 2023, an increase of 80.2% from $22.4 million in the same period of 2022[45] - Cash and cash equivalents increased by $22.8 million to $156.2 million as of June 30, 2023, compared to $133.4 million at the end of 2022[48] - The company has no debt outstanding and no draws on the revolving credit facility, indicating strong liquidity[52] Expenses - SG&A expenses in Q2 2023 were $4.3 million, a 12.2% increase from $3.8 million in Q2 2022[56] - Income tax expense for Q2 2023 was $4.9 million, up from $2.5 million in Q2 2022[58] - Interest expense for Q2 2023 was $64 thousand, slightly up from $63 thousand in Q2 2022[57] - Interest and other income, net for Q2 2023 was $1.9 million, compared to $177 thousand in Q2 2022[57] Capital Expenditures - Capital expenditures totaled $15.4 million in the first six months of 2023, down from $17.1 million in the same period of 2022[47]

Financial Performance - Revenues increased by 31.2% in Q1 2023, reaching $66.8 million compared to $50.9 million in Q1 2022[48] - Gross profit surged by 65.8% in Q1 2023, amounting to $24.0 million, compared to $14.5 million in Q1 2022[49] - Net income for Q1 2023 was $17.1 million ($3.00 per diluted share), up 97.3% from $8.7 million ($1.53 per diluted share) in Q1 2022[52] - Net cash provided by operating activities was $20.6 million in Q1 2023, a 156.2% increase from $8.1 million in Q1 2022[41] Revenue Sources - Revenues from Lime and Limestone Operations rose by 32.3% in Q1 2023, driven by a 23.5% increase in average selling prices and an 8.8% increase in sales volumes[39] - The company acquired Mill Creek for $5.6 million, contributing $1.2 million to revenues in Q1 2023[38] Expenses and Investments - Capital expenditures in Q1 2023 totaled $5.5 million, down from $11.4 million in Q1 2022, which included $5.9 million for the acquisition of Mill Creek[42] - Selling, general and administrative expenses increased by 14.2% to $4.2 million in Q1 2023, primarily due to higher personnel costs[50] Financial Position - The company had no outstanding debt as of March 31, 2023, and cash and cash equivalents increased to $147.6 million from $133.4 million at the end of 2022[43][47] Future Outlook - The company anticipates continued pressure on production costs and potential impacts on future demand due to recessionary concerns[40] Compliance and Safety - No changes in internal control over financial reporting that materially affect operations were reported during the most recent fiscal quarter[55] - The company is committed to providing a safe workplace by training employees, communicating openly, and improving safety practices[58] - MSHA has increased enforcement of mining safety standards, resulting in higher penalties for violations in recent years[60] Shareholder Actions - In Q1 2023, the company purchased 646 shares at a price of $151.70 for tax withholding liability related to restricted stock[56]

Revenue and Profit Growth - Lime and limestone revenues increased by 24.6% in 2022, reaching $233.4 million compared to $187.4 million in 2021[138]. - Total revenues for 2022 were $236.2 million, a 24.8% increase from $189.3 million in 2021[138]. - Gross profit rose by 18.7% in 2022, totaling $70.3 million, driven by increased revenues despite higher production costs[145]. - Net income increased by $8.4 million, or 22.6%, in 2022, resulting in a net income per diluted share of $8.00 compared to $6.54 in 2021[146]. - Revenues for 2022 increased to $236.2 million, up $46.9 million or 24.8% from 2021, driven by a 14.0% increase in sales volumes and a 10.6% average price increase for lime and limestone products[171]. - Gross profit for 2022 rose to $70.3 million, an increase of $11.1 million or 18.7% compared to 2021, primarily due to increased revenues, partially offset by higher production costs[172]. - Net income for 2022 was $45.4 million ($8.00 per share diluted), an increase of $8.4 million or 22.6% from 2021[176]. Capital Investments and Financial Position - The company made $32.4 million in capital investments in 2022, including the acquisition of Mill Creek for $5.6 million[147]. - Cash balances increased to $133.3 million as of December 31, 2022, up from $105.4 million in 2021, with no debt outstanding[147]. - The company expects to spend approximately $20.0 million annually over the next several years on capital and re-equipping projects to maintain efficiency and compliance with environmental laws[187]. - Net cash provided by operating activities increased to $64.4 million in 2022, up from $55.7 million in 2021, representing a 15.6% increase[188]. - Net cash used in investing activities was $31.2 million in 2022, including $5.6 million for the acquisition of Mill Creek and $3.5 million for capital investments in the Mill Creek facility[191]. - Cash and cash equivalents increased to $133.4 million as of December 31, 2022, compared to $105.4 million at the end of 2021[192]. - The company had no debt outstanding as of December 31, 2022, and had $0.3 million of letters of credit issued under the Revolving Facility[196]. - The credit agreement provides for a $75 million revolving credit facility, with an additional $50 million accordion feature, maturing on May 2, 2024[193]. - The company believes cash on hand and cash flows from operations will be sufficient to meet operating and capital needs in the near future[198]. Expenses and Taxation - Selling, general and administrative expenses (SG&A) increased to $15.6 million in 2022, up $2.7 million or 21.1% from 2021, with SG&A as a percentage of revenues decreasing to 6.6%[173]. - Interest and other income, net increased to $2.0 million in 2022, a rise of $1.7 million or 479.2% compared to 2021, attributed to higher interest rates on cash balances[174]. - The effective income tax rate for 2022 was 19.7%, down from 20.4% in 2021, primarily due to statutory depletion exceeding cost depletion[175]. - The company expects increased capital costs to result in higher DD&A expenses in future periods due to inflationary pressures[191]. Market Demand and Operational Challenges - Demand for lime and limestone products is expected to remain strong due to increased funding for highway construction and infrastructure projects in Texas[153]. - The company continues to face risks related to demand and pricing for lime and limestone products, as well as operational challenges from various external factors[160]. - The company had $1.5 million in open orders for equipment and construction contracts for its Lime and Limestone Operations as of December 31, 2022[187]. Stock Buybacks - The company spent $0.8 million on common stock buybacks in 2022, compared to $0.7 million in 2021[197].

Form 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (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, 2022 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, 2022 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 o ...