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

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

[{"type":"text","content":"DALLAS, Oct. 26, 2022 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported third quarter 2022 results: The Company’s revenues in the third quarter 2022 were $66.5 million, compared to $52.3 million in the third quarter 2021, an increase of $14.1 million, or 27.0%. For the first nine months 2022, Company revenues were $177.9 million, compared to $143.1 million in the first nine months 2021, an increase of $34.7 million, or 24.2%. Lime and limestone revenues were $65.7 million in the third quarter 2022, compared to $51.7 million in the third quarter 2021, an increase of $14.0 million, or 27.0%. For the first nine months 2022, lime and limestone revenues were $175.6 million, compared to $141.8 million in the first nine months 2021, an increase of $33.8 million, or 23.8%. The increase in revenues in the third quarter 2022, compared to the third quarter 2021, resulted primarily from increased sales volumes of the Company’s lime and limestone products, principally due to increased demand from the Company’s construction, agriculture, roofing, and oil and gas services customers, as well as an increase in the average selling prices for the Company’s lime and limestone products. The increase in revenues in the first nine months 2022, compared to the first nine months 2021, resulted primarily from increased sales volumes of the Company’s lime and limestone products, principally due to increased demand from the Company’s construction, agriculture, and oil and gas services customers, and an increase in the average selling prices for the Company’s lime and limestone products. The Company’s gross profit was $22.6 million in the third quarter 2022, compared to $17.3 million in the third quarter 2021, an increase of $5.2 million, or 30.3%. Gross profit in the first nine months 2022 was $53.5 million, compared to $45.9 million in the first nine months 2021, an increase of $7.6 million, or 16.5%. The Company’s lime and limestone gross profit was $22.2 million in the third quarter 2022, compared to $17.1 million in the third quarter 2021, an increase of $5.0 million or 29.4%. The Company’s lime and limestone gross profit in the first nine months 2022 was $52.3 million, compared to $45.6 million in the first nine months 2021, an increase of $6.7 million, or 14.7%. The increases in lime and limestone gross profit in t...

More updates from United States Lime & Minerals, Inc.