United States Lime & Minerals Reports Second Quarter 2023 Results and Declares Regular Quarterly Cash Dividend

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

[{"type":"text","content":"DALLAS, Aug. 02, 2023 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported second quarter 2023 results: The Company’s revenues in the second quarter 2023 were $74.0 million, compared to $60.5 million in the second quarter 2022, an increase of $13.5 million, or 22.3%. For the first six months 2023, the Company’s revenues were $140.8 million, compared to $111.4 million in the first six months 2022, an increase of $29.4 million, or 26.4%. Lime and limestone revenues were $73.7 million in the second quarter 2023, compared to $59.6 million in the second quarter 2022, an increase of $14.1 million, or 23.6%. For the first six months 2023, lime and limestone revenues were $140.2 million, compared to $109.9 million in the first six months 2022, an increase of $30.3 million, or 27.6%. The increase in revenues in the second quarter 2023, compared to the second quarter 2022, resulted from increases in average selling prices for the Company’s lime and limestone products and increased sales volumes, principally due to increased demand from the Company’s environmental and oil and gas services customers, partially offset by decreased demand from the Company’s steel customers. The increase in revenues for the first six months 2023, compared to the first six months 2022, resulted from increases in average selling prices for the Company’s lime and limestone products and increased sales volumes, principally due to increased demand from the Company’s environmental customers, partially offset by decreased demand from the Company’s steel and industrial customers. The Company’s gross profit was $27.1 million in the second quarter 2023, compared to $16.5 million in the second quarter 2022, an increase of $10.7 million, or 64.6%. The Company’s gross profit was $51.1 million in the first six months 2023, compared to $30.9 million in the first six months 2022, an increase of $20.2 million, or 65.2%. The Company’s lime and limestone gross profit was $27.1 million in the second quarter 2023, compared to $16.0 million in the second quarter 2022, an increase of $11.1 million, or 69.8%. The Company’s lime and limestone gross profit in the first six months 2023 was $51.2 million, compared to $30.2 million in the first six months 2022, an increase of $21.0 million, or 69.6%. The increases in gross profit in the second quarter and ...

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