Business
United States Lime & Minerals Reports Fourth Quarter and Full Year 2021 Results and Declares Increased Regular Quarterly Cash Dividend
DALLAS, Jan. 31, 2022 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported fourth quarter and full year 2021 results: The
About this update from United States Lime & Minerals, Inc.
[{"type":"text","content":"DALLAS, Jan. 31, 2022 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported fourth quarter and full year 2021 results: The Company’s revenues in the fourth quarter 2021 were $46.1 million, compared to $41.0 million in the fourth quarter 2020, an increase of $5.1 million, or 12.5%. For the full year 2021, the Company’s revenues were $189.3 million, compared to $160.7 million in the full year 2020, an increase of $28.6 million, or 17.8%. The Company’s revenues from its lime and limestone operations in the fourth quarter and full year 2021 were $45.5 million and $187.4 million, respectively, compared to $40.7 million and $159.7 million, respectively, in the comparable 2020 periods. Lime and limestone revenues increased $4.9 million, or 12.0%, and $27.7 million, or 17.3%, in the fourth quarter and full year 2021, respectively, compared to the fourth quarter and full year 2020. Carthage Crushed Limestone (“Carthage”), which the Company acquired on July 1, 2020, contributed $9.9 million to the Company’s lime and limestone revenues in the full year 2021, compared to $4.6 million in the full year 2020. The increase in Company revenues in the fourth quarter 2021, compared to the fourth quarter 2020, resulted primarily from increased sales of the Company’s lime and limestone products, principally due to increased demand from the Company’s environmental, construction, and industrial customers. Including the additional revenues from Carthage, the increase in revenues in the full year 2021, compared to the full year 2020, resulted primarily from increased sales of the Company’s lime and limestone products, principally due to increased demand from the Company’s construction, steel, environmental, industrial, roofing, and agriculture customers. The COVID-19 pandemic and related restrictions on business activities that began in the first quarter 2020 resulted in a general economic slowdown, which disproportionately impacted certain industries that purchase the Company’s lime and limestone products. Both the fourth quarter and the full year 2021 were also favorably impacted by slight increases in the average selling prices for the Company’s lime and limestone products. The Company’s gross profit was $13.3 million in the fourth quarter 2021, compared to $13.2 million in the fourth quarter 2020, an increase of $0.1 ...