United States Lime & Minerals(USLM) - 2025 Q2 - Quarterly Results

News Release Summary United States Lime & Minerals, Inc. reported strong financial results for the second quarter and first six months of 2025, driven by increased sales volumes and average selling prices of lime and limestone products Key Financial Highlights (Q2 & YTD 2025) United States Lime & Minerals, Inc. reported strong financial results for the second quarter and first six months of 2025, driven by increased sales volumes and average selling prices of lime and limestone products Key Financial Highlights (Q2 & YTD 2025 vs 2024) | Metric | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Q2 YoY Change (%) | YTD 2025 ($ millions) | YTD 2024 ($ millions) | YTD YoY Change (%) | | :----------------- | :------------------- | :------------------- | :---------------- | :-------------------- | :-------------------- | :----------------- | | Revenues | 91.5 | 76.5 | 19.6% | 182.8 | 148.2 | 23.3% | | Gross Profit | 41.9 | 34.8 | 20.3% | 88.0 | 65.4 | 34.5% | | Net Income | 30.8 | 26.1 | 18.3% | 64.9 | 48.5 | 33.9% | | Diluted EPS | 1.07 | 0.91 | 17.6% | 2.26 | 1.69 | 33.7% | - Demand from construction customers remained solid[7] Detailed Financial Performance This section analyzes Q2 and YTD 2025 performance across revenues, gross profit, SG&A, other income, and net income Revenues Revenues significantly increased in Q2 and YTD 2025, driven by higher sales volumes and average selling prices of lime and limestone products to key customers Revenue Performance (Q2 & YTD 2025 vs 2024) | Period | 2025 ($ millions) | 2024 ($ millions) | Increase ($ millions) | Increase (%) | | :--------------- | :---------------- | :---------------- | :-------------------- | :----------- | | Second Quarter | 91.5 | 76.5 | 15.0 | 19.6% | | First Six Months | 182.8 | 148.2 | 34.5 | 23.3% | - Increases in revenues resulted from increases in sales volumes and average selling prices for lime and limestone products, principally to construction, environmental, and steel customers[2] Gross Profit Gross profit saw substantial growth in Q2 and the first half of 2025, primarily attributable to the overall increase in revenues Gross Profit Performance (Q2 & YTD 2025 vs 2024) | Period | 2025 ($ millions) | 2024 ($ millions) | Increase ($ millions) | Increase (%) | | :--------------- | :---------------- | :---------------- | :-------------------- | :----------- | | Second Quarter | 41.9 | 34.8 | 7.1 | 20.3% | | First Six Months | 88.0 | 65.4 | 22.6 | 34.5% | - Increases in gross profit primarily resulted from the increases in revenues[3] Selling, General and Administrative Expenses (SG&A) SG&A expenses increased in both periods, mainly due to higher personnel expenses, including stock-based compensation SG&A Expenses (Q2 & YTD 2025 vs 2024) | Period | 2025 ($ millions) | 2024 ($ millions) | Increase ($ millions) | Increase (%) | | :--------------- | :---------------- | :---------------- | :-------------------- | :----------- | | Second Quarter | 6.2 | 4.9 | 1.3 | 26.8% | | First Six Months | 12.5 | 9.7 | 2.7 | 28.0% | - Increases in SG&A expenses were primarily due to increased personnel expenses, including stock-based compensation[4] Other (Income) Expense, Net Other income, net, increased in both periods, primarily driven by higher interest earned on increased average balances of cash and cash equivalents Other (Income) Expense, Net (Q2 & YTD 2025 vs 2024) | Period | 2025 ($ millions) | 2024 ($ millions) | Increase ($ millions) | | :--------------- | :---------------- | :---------------- | :-------------------- | | Second Quarter | 3.1 | 2.8 | 0.3 | | First Six Months | 6.2 | 5.3 | 0.9 | - Increases in other (income) expense, net were primarily due to interest earned on higher average balances of cash and cash equivalents[5] Net Income and Earnings Per Share (EPS) The company reported significant increases in net income and diluted EPS for both the second quarter and the first six months of 2025 Net Income and Diluted EPS (Q2 & YTD 2025 vs 2024) | Metric | 2025 ($ millions) | 2024 ($ millions) | Increase ($ millions) | Increase (%) | | :--------------- | :---------------- | :---------------- | :-------------------- | :----------- | | Net Income: | | | | | | Second Quarter | $30.8 | $26.1 | $4.8 | 18.3% | | First Six Months | $64.9 | $48.5 | $16.4 | 33.9% | | Diluted EPS: | | | | | | Second Quarter | $1.07 | $0.91 | | | | First Six Months | $2.26 | $1.69 | | | Dividend Information The Board of Directors declared a regular quarterly cash dividend, payable in September 2025 to shareholders of record in August 2025 - The Board of Directors declared a regular quarterly cash dividend of $0.06 per share on the Company's common stock[8] - This dividend is payable on September 12, 2025, to shareholders of record at the close of business on August 22, 2025[8] Company Profile This section outlines the company's business operations, product offerings, and geographic presence through its subsidiaries Business Operations and Products United States Lime & Minerals, Inc. manufactures lime and limestone products for construction, industrial, environmental, metals, and oil and gas industries - United States Lime & Minerals, Inc. is a manufacturer of lime and limestone products[8] - The company supplies primarily the construction (including highway, road and building contractors), industrial (including paper and glass manufacturers), environmental (including municipal sanitation and water treatment facilities and flue gas treatment processes), metals (including steel producers), roof shingle manufacturers, agriculture (including poultry producers), and oil and gas services industries[8][9] Geographic Presence and Subsidiaries The company operates lime and limestone plants across six states through subsidiaries and holds natural gas interests in Johnson County, Texas - The Company operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Missouri, Oklahoma, and Texas[9] - Operations are conducted through wholly owned subsidiaries such as Arkansas Lime Company, Colorado Lime Company, Mill Creek Dolomite, LLC, Texas Lime Company, and others[9] - Through its wholly owned subsidiary, U.S. Lime Company-O & G, LLC, the Company has royalty and non-operated working interests in natural gas wells located in Johnson County, Texas, in the Barnett Shale Formation[9] Condensed Consolidated Financial Data This section presents the condensed consolidated income statements and balance sheets, highlighting key financial positions and performance metrics Income Statements The condensed consolidated income statements show significant year-over-year growth in revenues, gross profit, operating profit, and net income for Q2 and YTD 2025 Condensed Consolidated Income Statements (In thousands, except per share amounts) | INCOME STATEMENTS | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Revenues | $ 91,518 | $ 76,545 | $182,771 | $ 148,232 | | Cost of revenues | 49,640 | 41,723 | 94,737 | 82,803 | | Gross profit | $ 41,878 | $ 34,822 | $ 88,034 | $ 65,429 | | Selling, general and administrative expenses | 6,189 | 4,882 | 12,451 | 9,730 | | Operating profit | $ 35,689 | $ 29,940 | $ 75,583 | $ 55,699 | | Other (income) expense, net | (3,098) | (2,786) | (6,189) | (5,326) | | Income tax expense | 7,956 | 6,669 | 16,828 | 12,529 | | Net income | $ 30,831 | $ 26,057 | $ 64,944 | $ 48,496 | | Income per share of common stock: | | | | | | Basic | $ 1.08 | $ 0.91 | $ 2.27 | $ 1.70 | | Diluted | $ 1.07 | $ 0.91 | $ 2.26 | $ 1.69 | | Weighted-average shares outstanding: | | | | | | Basic | 28,637 | 28,590 | 28,630 | 28,564 | | Diluted | 28,729 | 28,698 | 28,728 | 28,661 | | Cash dividends per share of common stock | $ 0.06 | $ 0.05 | $ 0.12 | $ 0.10 | Balance Sheets The condensed consolidated balance sheets indicate increased total assets and stockholders' equity as of June 30, 2025, driven by growth in current assets and property, plant and equipment Condensed Consolidated Balance Sheets (In thousands) | BALANCE SHEETS | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Assets: | | | | Current assets | $403,446 | $354,782 | | Property, plant and equipment, net | 199,223 | 182,891 | | Other non-current assets | 4,753 | 5,490 | | Total assets | $607,422 | $543,163 | | Liabilities and Stockholders' Equity: | | | | Current liabilities | $ 18,548 | $ 16,962 | | Deferred tax liabilities, net | 21,370 | 23,659 | | Other long-term liabilities | 4,213 | 4,801 | | Stockholders' equity | 563,291 | 497,741 | | Total liabilities and stockholders' equity | $607,422 | $543,163 | Forward-Looking Statements Disclaimer This section cautions investors about forward-looking statements, noting inherent risks and uncertainties that may cause actual results to differ materially - Statements in the News Release that are not historical fact are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995[10] - The Company undertakes no obligation to publicly update or revise any forward-looking statements[10] - Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from expectations[10]