United States Lime & Minerals Reports Third Quarter 2021 Results and Declares Regular Quarterly Cash Dividend

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

[{"type":"text","content":"DALLAS, Oct. 27, 2021 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported third quarter 2021 results: The Company’s revenues in the third quarter 2021 were $52.3 million, compared to $43.7 million in the third quarter 2020, an increase of $8.6 million, or 19.6%. For the first nine months 2021, revenues were $143.1 million, compared to $119.7 million in the first nine months 2020, an increase of $23.4 million, or 19.6%. The Company’s revenues from its lime and limestone operations in the third quarter and first nine months 2021 were $51.7 million and $141.8 million, respectively, compared to $43.5 million and $119.0 million, respectively, in the comparable 2020 periods. Lime and limestone revenues increased $8.3 million, or 19.0%, and $22.8 million, or 19.2%, in the third quarter and first nine months 2021, respectively, compared to the third quarter and first nine months 2020. In the second and third quarters 2020, the COVID-19 pandemic and related restrictions on business activities resulted in a general economic slowdown, which disproportionately impacted certain industries that purchase the Company’s products, including oil and gas services, environmental, and steel. Carthage Crushed Limestone (“Carthage”), which the Company acquired on July 1, 2020, contributed $7.4 million to the Company’s lime and limestone revenues for the first nine months 2021, compared to $2.3 million for the first nine months 2020. The increase in lime and limestone revenues in the third quarter 2021, compared to the third quarter 2020, resulted primarily from increased sales to the Company’s construction, steel, industrial, environmental, and oil and gas customers. Including the added Carthage revenues, the increase in lime and limestone revenues in the first nine months 2021, compared to the first nine months 2020, resulted primarily from increased sales to the Company’s construction, steel, environmental, and roofing customers. Both the third quarter and the first nine months 2021 were also favorably impacted by a slight price increase in the average selling prices for the Company’s lime and limestone products. The Company’s gross profit was $17.3 million in the third quarter 2021, compared to $14.2 million in the third quarter 2020, an increase of $3.2 million, or 22.3%. Gross profit in the first nine months 2021 ...

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