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Jun 30, 2022
US Lime Q2 2022 Earnings Report
Reported an increase in revenue but a decrease in net income due to rising production costs.
Key Takeaways
United States Lime & Minerals reported a revenue increase of 23.0% compared to Q2 2021, driven by higher sales volumes and average selling prices. However, net income decreased by 7.7% due to increased production costs, including higher energy, transportation, labor, and supplies expenses.
Revenue increased by 23.0% to $60.5 million compared to Q2 2021.
Lime and limestone revenues increased by 22.3% to $59.6 million compared to Q2 2021.
Net income decreased by 7.7% to $10.2 million ($1.80 per share diluted) compared to Q2 2021.
Gross profit decreased slightly by 1.9% to $16.5 million compared to Q2 2021.