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Mar 31, 2023
US Lime Q1 2023 Earnings Report
Reported an increase in revenue and net income for Q1 2023.
Key Takeaways
United States Lime & Minerals reported a strong first quarter in 2023, with revenues increasing by 31.2% to $66.8 million compared to $50.9 million in the first quarter of 2022. Net income also significantly increased to $17.1 million ($3.00 per share diluted) from $8.7 million ($1.53 per share diluted) in the same period last year. The company noted increased demand from construction customers as a key driver for revenue growth.
Revenue increased by 31.2% to $66.8 million compared to Q1 2022.
Lime and limestone revenues increased by 32.3% to $66.5 million compared to Q1 2022.
Net income increased by 97.3% to $17.1 million, or $3.00 per share diluted.
Gross profit increased by 65.8% to $24.0 million compared to Q1 2022.
US Lime
US Lime
Forward Guidance
The company anticipates continuing pressure on lime and limestone production costs and believes general recessionary concerns could potentially impact future demand for their products for the remainder of 2023.
Challenges Ahead
- Continuing pressure on lime and limestone production costs.
- General recessionary concerns could potentially impact future demand.