United States Lime & Minerals ( (USLM) ) has realeased its Q3 earnings. Here is a breakdown of the information United States Lime & Minerals presented to its investors.
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United States Lime & Minerals, Inc., based in Dallas, Texas, is a NASDAQ-listed company that manufactures lime and limestone products for various industries including construction, industrial, and environmental sectors.
In its latest earnings report for the third quarter of 2024, United States Lime & Minerals, Inc. announced increased revenues and gross profits compared to the same period in 2023. The company reported quarterly revenues of $89.4 million, marking a 19.4% increase from the previous year, largely attributed to higher average selling prices and increased sales volumes.
The report highlights a significant rise in gross profit, which reached $43.1 million for the third quarter of 2024, a 53.1% increase from the third quarter of 2023. This improved profitability was driven by increased revenues and reduced operational costs, including lower natural gas prices. Additionally, the company noted increased net income for the quarter at $33.4 million, a 60.9% rise from the previous year.
Despite a year-to-date decrease in construction demand, the company saw improved demand from construction customers in the third quarter, aided by favorable weather conditions. United States Lime & Minerals also declared a regular quarterly cash dividend, reflecting its robust financial health and commitment to shareholders.
Looking ahead, United States Lime & Minerals remains optimistic about its financial performance, leveraging its strategic positioning and operational efficiencies to navigate market dynamics and enhance shareholder value.
