United States Lime & Minerals Reports Fourth Quarter and Full Year 2024 Results and Declares Increased Regular Quarterly Cash Dividend
Rhea-AI Summary
United States Lime & Minerals (NASDAQ: USLM) reported strong financial results for Q4 and full year 2024. Q4 revenues increased 21.9% to $80.1 million, while full-year revenues grew 12.9% to $317.7 million. The company's lime and limestone segment showed significant growth, with Q4 revenues up 22% to $79.8 million and full-year revenues rising 13% to $316.7 million.
Gross profit saw substantial improvements, with Q4 profit up 50.2% to $35.4 million and full-year profit increasing 40% to $144.0 million. Net income for Q4 reached $27.0 million ($0.94 per share), up 58.8%, while full-year net income grew 46% to $108.8 million ($3.79 per share).
The company completed a 5-for-1 stock split in July 2024 and declared an increased quarterly dividend of $0.06 per share, payable March 14, 2025.
Positive
- Q4 revenues increased 21.9% to $80.1 million
- Full-year revenues grew 12.9% to $317.7 million
- Q4 gross profit increased 50.2% to $35.4 million
- Full-year net income rose 46% to $108.8 million
- Increased quarterly dividend declared
- Higher interest income from cash and cash equivalents
Negative
- Decreased overall demand compared to 2023
- Reduced sales volumes from construction customers in 2024
News Market Reaction
On the day this news was published, USLM gained 1.67%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
DALLAS, Feb. 03, 2025 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported fourth quarter and full year 2024 results: The Company’s revenues in the fourth quarter 2024 were
For the full year 2024, the Company’s revenues were
The Company’s gross profit was
Selling, general and administrative (“SG&A”) expenses were
Other (income) expense, net was income of
The Company reported net income of
“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.
Stock Split
On July 12, 2024, the Company effected a 5-for-1 split of its common stock in the form of a stock dividend of four additional shares of common stock for each share outstanding to shareholders of record at the close of business on June 21, 2024. All share and per share information throughout this News Release has been retroactively adjusted to reflect the stock split.
Dividend
The Company announced today that the Board of Directors has declared an increased regular quarterly cash dividend of
United States Lime & Minerals, Inc., a NASDAQ-listed public company with headquarters in Dallas, Texas, is a manufacturer of lime and limestone products, supplying primarily the construction (including highway, road and building contractors), industrial (including paper and glass manufacturers), environmental (including municipal sanitation and water treatment facilities and flue gas treatment processes), metals (including steel producers), roof shingle manufacturers, agriculture (including poultry producers), and oil and gas services industries. The Company operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Missouri, Oklahoma, and Texas through its wholly owned subsidiaries, Arkansas Lime Company, ART Quarry TRS LLC (DBA Carthage Crushed Limestone), Colorado Lime Company, Mill Creek Dolomite, LLC, Texas Lime Company, U.S. Lime Company, U.S. Lime Company-Shreveport, U.S. Lime Company-St. Clair, and U.S. Lime Company-Transportation. In addition, the Company, through its wholly owned subsidiary, U.S. Lime Company-O & G, LLC, has royalty and non-operated working interests in natural gas wells located in Johnson County, Texas, in the Barnett Shale Formation.
Any statements contained in this News Release, including, but not limited to, statements relating to changes in demand, that are not statements of historical fact are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to publicly update or revise any forward-looking statements, and investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from expectations, including without limitation those risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.
(Tables Follow)
| United States Lime & Minerals, Inc. | |||||||||||||||
| CONDENSED CONSOLIDATED FINANCIAL DATA | |||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| INCOME STATEMENTS | |||||||||||||||
| Revenues | $ | 80,062 | $ | 65,692 | $ | 317,721 | $ | 281,330 | |||||||
| Cost of revenues | 44,623 | 42,103 | 173,740 | 178,463 | |||||||||||
| Gross profit | $ | 35,439 | $ | 23,589 | $ | 143,981 | $ | 102,867 | |||||||
| Selling, general and administrative expenses | 4,352 | 4,619 | 19,058 | 17,445 | |||||||||||
| Operating profit | $ | 31,087 | $ | 18,970 | $ | 124,923 | $ | 85,422 | |||||||
| Other (income) expense, net | (3,073 | ) | (2,411 | ) | (11,460 | ) | (7,940 | ) | |||||||
| Income tax expense | 7,170 | 4,381 | 27,544 | 18,813 | |||||||||||
| Net income | $ | 26,990 | $ | 17,000 | $ | 108,839 | $ | 74,549 | |||||||
| Income per share of common stock: | |||||||||||||||
| Basic | $ | 0.94 | $ | 0.60 | $ | 3.81 | $ | 2.62 | |||||||
| Diluted | $ | 0.94 | $ | 0.60 | $ | 3.79 | $ | 2.61 | |||||||
| Weighted-average shares outstanding: | |||||||||||||||
| Basic | 28,594 | 28,485 | 28,574 | 28,455 | |||||||||||
| Diluted | 28,727 | 28,559 | 28,683 | 28,525 | |||||||||||
| Cash dividends per share of common stock | $ | 0.05 | $ | 0.04 | $ | 0.20 | $ | 0.16 | |||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | ||||||||||||||
| BALANCE SHEETS | |||||||||||||||
| Assets: | |||||||||||||||
| Current assets | $ | 354,782 | $ | 254,969 | |||||||||||
| Property, plant and equipment, net | 182,891 | 179,795 | |||||||||||||
| Other non-current assets | 5,490 | 5,838 | |||||||||||||
| Total assets | $ | 543,163 | $ | 440,602 | |||||||||||
| Liabilities and Stockholders’ Equity: | |||||||||||||||
| Current liabilities | $ | 16,962 | $ | 17,491 | |||||||||||
| Deferred tax liabilities, net | 23,659 | 24,659 | |||||||||||||
| Other long-term liabilities | 4,801 | 5,348 | |||||||||||||
| Stockholders’ equity | 497,741 | 393,104 | |||||||||||||
| Total liabilities and stockholders’ equity | $ | 543,163 | $ | 440,602 | |||||||||||
| Contact: Timothy W. Byrne |
| (972) 991-8400 |
FAQ
What were USLM's Q4 2024 financial results?
How did USLM perform in full-year 2024?
When did USLM implement its 5-for-1 stock split in 2024?
What is USLM's new quarterly dividend for 2025?
Which customer segments drove USLM's revenue growth in Q4 2024?
