Loading...
•
Sep 30, 2023
US Lime Q3 2023 Earnings Report
Reported an increase in revenue and net income due to higher average selling prices, offset by decreased sales volumes.
Key Takeaways
United States Lime & Minerals reported a revenue increase of 12.7% and a net income increase of 31.8% for Q3 2023. Increased average selling prices drove revenue growth, which was partially offset by decreased sales volumes due to lower demand from construction, steel, and industrial customers.
Q3 2023 revenues increased by 12.7% to $74.9 million compared to Q3 2022.
Lime and limestone revenues increased by 13.5% to $74.6 million compared to Q3 2022.
Net income for Q3 2023 increased by 31.8% to $20.7 million ($3.63 per share diluted) compared to Q3 2022.
The company experienced reduced demand from steel, industrial, and construction customers, offset by increased demand from environmental and roofing customers.
US Lime
US Lime
Forward Guidance
The company anticipates continued weak demand in some of its key markets due to inflation, higher interest rates, and uncertain geo-political situations.
Challenges Ahead
- Continued weak demand in some key markets
- Impact from continuing inflation
- Higher interest rates
- Increasingly uncertain geo-political situations