United States Lime & Minerals Reports Second Quarter 2022 Results and Declares Regular Quarterly Cash Dividend

About this update from United States Lime & Minerals, Inc.

[{"type":"text","content":"DALLAS, July 27, 2022 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported second quarter 2022 results: The Company’s revenues in the second quarter 2022 were $60.5 million, compared to $49.2 million in the second quarter 2021, an increase of $11.3 million, or 23.0%. For the first six months 2022, Company revenues were $111.4 million, compared to $90.8 million in the first six months 2021, an increase of $20.6 million, or 22.6%. Lime and limestone revenues were $59.6 million in the second quarter 2022, compared to $48.7 million in the second quarter 2021, an increase of $10.9 million, or 22.3%. For the first six months 2022, lime and limestone revenues were $109.9 million, compared to $90.1 million in the first six months 2021, an increase of $19.8 million, or 22.0%. The increases in revenues in the second quarter and first six months 2022, compared to the comparable 2021 periods, resulted primarily from increased sales volumes of the Company’s lime and limestone products, principally due to increased demand from the Company’s construction and industrial customers, and increases in the average selling prices for the Company’s lime and limestone products. Additionally, lime and limestone revenues in the first six months 2022 benefited from increased sales to the Company’s oil and gas services customers. The Company’s gross profit was $16.5 million in the second quarter 2022, compared to $16.8 million in the second quarter 2021, a decrease of $0.3 million, or 1.9%. Gross profit in the first six months 2022 was $30.9 million, an increase of $2.3 million, or 8.2%, from $28.6 million in the first six months 2021. The Company’s lime and limestone gross profit was $16.0 million in the second quarter 2022, compared to $16.7 million in the second quarter 2021, a decrease of $0.7 million or 4.2%. The Company’s lime and limestone gross profit in the first six months 2022 was $30.2 million, compared to $28.5 million in the first six months 2021, an increase of $1.7 million, or 5.8%. The decrease in lime and limestone gross profit in the second quarter 2022, compared to the second quarter 2021, resulted primarily from increased production costs, principally from higher energy, transportation, labor, and supplies costs, partially offset by the increased revenues discussed above. The increase in lime and limest...

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