United States Lime & Minerals Records Double-Digit Growth

United States Lime & Minerals Inc. reported fourth quarter and full year 2024 results. The company’s revenues in the fourth quarter 2024 were $80.1 million, compared to $65.7 million in the fourth quarter 2023, an increase of $14.4 million, or 21.9%. 

Lime and limestone revenues were $79.8 million in the fourth quarter 2024, compared to $65.4 million in the fourth quarter 2023, an increase of $14.4 million, or 22.0%. 

The increase in revenues in the fourth quarter 2024, compared to the fourth quarter 2023, resulted from an increase in average selling prices for the company’s lime and limestone products and increased sales volumes, principally to the company’s construction, environmental, and industrial customers.

For the full year 2024, the company’s revenues were $317.7 million, compared to $281.3 million in the full year 2023, an increase of $36.4 million, or 12.9%. For the full year 2024, lime and limestone revenues were $316.7 million, compared to $280.2 million in the full year 2023, an increase of $36.5 million, or 13.0%. 

The increase in revenues in the full year 2024, compared to the full year 2023, resulted from an increase in average selling prices for the company’s lime and limestone products, partially offset by a decrease in sales volumes resulting principally from decreased demand from the company’s construction customers, offset in part by increased demand from its industrial, environmental and roof shingle customers.

The company’s gross profit was $35.4 million in the fourth quarter 2024, compared to $23.6 million in the fourth quarter 2023, an increase of $11.9 million, or 50.2%. The company’s gross profit was $144.0 million in the full year 2024, compared to $102.9 million in the full year 2023, an increase of $41.1 million, or 40.0%. 

The company’s lime and limestone gross profit was $35.3 million in the fourth quarter 2024, compared to $23.6 million in the fourth quarter 2023, an increase of $11.8 million, or 50.0%. The company’s lime and limestone gross profit in the full year 2024 was $144.0 million, compared to $102.9 million in the full year 2023, an increase of $41.1 million, or 40.0%. 

The increases in gross profit in the fourth quarter and full year 2024, compared to the comparable 2023 periods, resulted primarily from the increases in revenues discussed above.

“We are pleased with the company’s financial performance in 2024. Even though overall demand was down slightly, compared to 2023, we remain guardedly optimistic moving into the first part of 2025,” said Timothy W. Byrne, president and chief executive officer.

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