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Mar 31, 2024
US Lime Q1 2024 Earnings Report
Reported increased revenue and net income in Q1 2024, driven by higher average selling prices, partially offset by decreased sales volumes.
Key Takeaways
United States Lime & Minerals reported a revenue increase of 7.4% to $71.7 million and a net income increase of 31.2% to $22.4 million in Q1 2024 compared to Q1 2023. The increase in revenue was driven by higher average selling prices, while decreased sales volumes partially offset this growth due to reduced demand from construction customers.
Revenue increased by 7.4% to $71.7 million compared to Q1 2023.
Net income increased by 31.2% to $22.4 million ($3.92 per share diluted) compared to Q1 2023.
Gross profit increased by 27.6% to $30.6 million compared to Q1 2023.
The company declared a regular quarterly cash dividend of $0.25 per share.
Forward Guidance
The company anticipates improved demand from its construction customers.
Positive Outlook
- Improved demand from construction customers is expected.
- Increased demand from industrial customers partially offset decreased sales volume.
- Higher average selling prices are expected to continue.
- Cost management and operational efficiencies are expected to continue.
- The company has a strong balance sheet.
Challenges Ahead
- Reduced demand from construction customers continued in Q1 2024.
- Overall decrease in sales volume due to reduced demand.
- Increased SG&A expenses due to personnel expenses.
- Uncertainty in the timing of projects.
- Fluctuations in natural gas fuel costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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