Q1 2026 results dip at United States Lime (NASDAQ: USLM)
Rhea-AI Filing Summary
United States Lime & Minerals reported softer first-quarter 2026 results but maintained its dividend. Revenues were $87.8 million, down from $91.3 million a year earlier as sales volumes declined, mainly from construction, oil and gas services, and roof shingle customers, partly offset by stronger steel demand.
Gross profit fell to $41.8 million from $46.2 million, reflecting lower revenue and higher fuel and transportation costs. SG&A expenses decreased to $6.0 million, while other income improved modestly on higher cash balances. Net income was $30.6 million, or $1.06 diluted EPS, versus $34.1 million, or $1.19 diluted EPS.
Management highlighted progress on a new kiln at its Texas facility, expected to start up in the summer, and expressed optimism about demand for the rest of 2026. The board declared a regular quarterly cash dividend of $0.06 per share, payable June 12, 2026, to shareholders of record on May 22, 2026.
Positive
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Insights
USLM posted modest revenue decline and a sharper profit drop, but kept its dividend and signaled confidence.
United States Lime & Minerals saw Q1 2026 revenue dip 3.7% to $87.8M, with lower volumes from construction, oil and gas services, and roof shingle customers. Gross profit fell 9.5% to $41.8M as higher fuel and transportation costs pressured margins.
Despite earnings softness, net income remained solid at $30.6M and the company reported other income of $3.2M, helped by interest on larger cash balances. Stockholders’ equity increased to $661.2M as of March 31, 2026, indicating a strong balance sheet.
The regular quarterly dividend of $0.06 per share was reaffirmed, and management expressed optimism about full-year demand and progress on a new Texas kiln expected to start up in the summer of 2026. Subsequent filings may provide more detail on kiln ramp-up and demand trends.
8-K Event Classification
Key Figures
Key Terms
gross profit financial
Selling, general and administrative expenses financial
forward-looking statements regulatory
Barnett Shale Formation technical
Earnings Snapshot
Management stated it remains optimistic about the balance of 2026 and anticipates the new Texas kiln project will start up in the summer of 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
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incorporation) | ||||
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(
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On April 29, 2026, United States Lime & Minerals, Inc. (the “Company”) issued a News Release announcing the financial results for the quarter ended March 31, 2026. A copy of the News Release is attached hereto as Exhibit 99.1 and incorporated by reference herein in response to this Item 2.02.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
The Exhibit Index set forth below is incorporated by reference in response to this Item.
EXHIBIT INDEX
Exhibit | Exhibit | |
99.1 | News Release of United States Lime & Minerals, Inc. dated April 29, 2026. | |
104 | Cover Page Interactive Data File (formatted as Inline XBRL). |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, United States Lime & Minerals, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 29, 2026 | UNITED STATES LIME & MINERALS, INC. | |
By: | /s/ Michael L. Wiedemer | |
Michael L. Wiedemer, Vice President and | ||
Chief Financial Officer | ||
3
Exhibit 99.1
UNITED STATES LIME & MINERALS, INC. — NEWS RELEASE
FOR IMMEDIATE RELEASE | | | Contact: Timothy W. Byrne |
| | | (972) 991-8400 |
UNITED STATES LIME & MINERALS REPORTS FIRST QUARTER 2026
RESULTS AND DECLARES REGULAR QUARTERLY CASH DIVIDEND
Dallas, Texas, April 29, 2026 - United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported first quarter 2026 results: The Company’s revenues in the first quarter 2026 were $87.8 million, compared to $91.3 million in the first quarter 2025, a decrease of $3.4 million, or 3.7%. The decrease in revenues in the first quarter 2026, compared to the first quarter 2025, resulted primarily from decreased sales volumes, principally due to decreased demand from the Company’s construction, oil and gas services, and roof shingle customers, partially offset by increased demand from the Company’s steel customers. During the first quarter 2026, the Company caught up on most of the weather-related shipping interruptions that resulted from the January winter storm.
The Company’s gross profit was $41.8 million in the first quarter 2026, compared to $46.2 million in the first quarter 2025, a decrease of $4.4 million, or 9.5%. The decrease in gross profit in the first quarter 2026, compared to the first quarter 2025, resulted primarily from the decrease in revenues discussed above and higher fuel and transportation costs.
Selling, general and administrative (“SG&A”) expenses were $6.0 million in the first quarter 2026, compared to $6.3 million in the first quarter 2025, a decrease of $0.3 million, or 4.7%. The decrease in SG&A expenses in the first quarter 2026, compared to the first quarter 2025, was primarily due to decreased personnel expenses, including stock-based compensation.
Other (income) expense, net was $3.2 million income in the first quarter 2026, compared to $3.1 million income in the first quarter 2025, an increase of $0.1 million, primarily due to interest earned on higher average balances of cash and cash equivalents.
The Company reported net income of $30.6 million ($1.06 per share diluted) in the first quarter 2026, compared to $34.1 million ($1.19 per share diluted) in the first quarter 2025, a decrease of $3.5 million, or 10.4%.
“Although we experienced our first revenue decrease against the comparable prior-year quarter since the COVID pandemic began in 2020, we remain optimistic about the balance of the year, including as it pertains to demand from our construction customers,” said Timothy W. Byrne, President and Chief Executive Officer. “We are also pleased with the progress on the new kiln project at our Texas facility and anticipate it will start up this summer,” Mr. Byrne added.
Dividend
The Company announced today that the Board of Directors has declared a regular quarterly cash dividend of $0.06 per share on the Company’s common stock. This dividend is payable on June 12, 2026 to shareholders of record at the close of business on May 22, 2026.
* * *
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 demand and the Texas kiln project, 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 |
| ||||
| | March 31, |
| ||||
| | 2026 | | 2025 |
| ||
INCOME STATEMENTS | | | | | | | |
| | | | | | | |
Revenues | | $ | 87,833 | | $ | 91,253 | |
Cost of revenues | | | 46,081 | | | 45,097 | |
Gross profit | | $ | 41,752 | | $ | 46,156 | |
| | | | | | | |
Selling, general and administrative expenses | | | 5,969 | | | 6,262 | |
Operating profit | | $ | 35,783 | | $ | 39,894 | |
| | | | | | | |
Other (income) expense, net | | | (3,229) | | | (3,091) | |
Income tax expense | |
| 8,430 | |
| 8,872 | |
Net income | | $ | 30,582 | | $ | 34,113 | |
| | | | | | | |
Income per share of common stock: | | | | | | | |
Basic | | $ | 1.07 | | $ | 1.19 | |
Diluted | | $ | 1.06 | | $ | 1.19 | |
Weighted-average shares outstanding: | | | | | | | |
Basic | |
| 28,671 | |
| 28,623 | |
Diluted | |
| 28,770 | |
| 28,719 | |
Cash dividends per share of common stock | | $ | 0.06 | | $ | 0.06 | |
| | | | | | | |
| | March 31, | | December 31, | | ||
| | 2026 | | 2025 | | ||
BALANCE SHEETS | | | | | | | |
Assets: | | | | | | | |
Current assets | | $ | 476,265 | | $ | 455,316 | |
Property, plant and equipment, net | |
| 232,092 | |
| 221,421 | |
Other non-current assets | |
| 5,480 | |
| 4,307 | |
Total assets | | $ | 713,837 | | $ | 681,044 | |
Liabilities and Stockholders’ Equity: | | | | | | | |
Current liabilities | | $ | 22,975 | | $ | 23,632 | |
Deferred tax liabilities, net | |
| 26,429 | |
| 22,999 | |
Other long-term liabilities | |
| 3,274 | |
| 3,653 | |
Stockholders’ equity | |
| 661,159 | |
| 630,760 | |
Total liabilities and stockholders’ equity | | $ | 713,837 | | $ | 681,044 | |
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