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Dec 31, 2023
US Lime Q4 2023 Earnings Report
Reported increased revenue and net income, driven by higher average selling prices, despite decreased sales volumes due to reduced demand from industrial and construction customers, offset by increased demand from roofing and oil and gas customers.
Key Takeaways
United States Lime & Minerals reported a strong fourth quarter with increased revenues and net income. Revenue increased by 12.7% to $65.7 million, and net income rose by 57.5% to $17.0 million. The results were driven by increased average selling prices, although sales volumes decreased due to lower demand from industrial and construction customers.
Q4 revenue increased by 12.7% to $65.7 million compared to Q4 2022.
Lime and limestone revenues increased by 13.1% to $65.4 million compared to Q4 2022.
Net income increased by 57.5% to $17.0 million ($2.98 per share diluted) compared to Q4 2022.
Gross profit increased by 40.4% to $23.6 million compared to Q4 2022.
Forward Guidance
The company anticipates soft construction demand, particularly from commercial building, will continue through at least the first half 2024.
Challenges Ahead
- Soft construction demand expected to continue through at least the first half 2024.
- Reduced demand from industrial customers.
- Reduced demand from construction customers.
- Increased production costs.
- Higher energy costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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