United States Lime & Minerals Reports Second Quarter 2024 Results and Declares Regular Quarterly Cash Dividend
United States Lime & Minerals (NASDAQ: USLM) reported Q2 2024 results with revenues of $76.5 million, up 3.5% year-over-year. Net income increased 32.2% to $26.1 million ($0.91 per share diluted). For the first six months of 2024, revenues rose 5.3% to $148.2 million, with net income up 31.7% to $48.5 million ($1.69 per share diluted).
The company saw increased average selling prices for lime and limestone products, offset by decreased sales volumes, particularly in construction. Gross profit jumped 28.3% in Q2 and 28.0% for the first half. USLM also declared a quarterly dividend of $0.05 per share and effected a 5-for-1 stock split on July 12, 2024.
United States Lime & Minerals (NASDAQ: USLM) ha riportato risultati del Q2 2024 con ricavi di 76,5 milioni di dollari, in aumento del 3,5% rispetto all'anno precedente. Il reddito netto è aumentato del 32,2% arrivando a 26,1 milioni di dollari (0,91 dollari per azione diluita). Nei primi sei mesi del 2024, i ricavi sono aumentati del 5,3% a 148,2 milioni di dollari, con un reddito netto in crescita del 31,7% a 48,5 milioni di dollari (1,69 dollari per azione diluita).
La società ha registrato un aumento dei prezzi medi di vendita per i prodotti di calce e calcare, compensato da un calo dei volumi di vendita, soprattutto nel settore delle costruzioni. Il profitto lordo è aumentato del 28,3% nel Q2 e del 28,0% per il primo semestre. USLM ha anche dichiarato un dividendo trimestrale di 0,05 dollari per azione e ha effettuato uno scorporo azionario di 5 per 1 il 12 luglio 2024.
United States Lime & Minerals (NASDAQ: USLM) reportó resultados del Q2 2024 con ingresos de 76,5 millones de dólares, un aumento del 3,5% respecto al año anterior. El ingreso neto aumentó un 32,2% alcanzando los 26,1 millones de dólares (0,91 dólares por acción diluida). En los primeros seis meses de 2024, los ingresos crecieron un 5,3% a 148,2 millones de dólares, con un ingreso neto que subió un 31,7% a 48,5 millones de dólares (1,69 dólares por acción diluida).
La empresa vio un aumento en los precios promedio de venta para productos de cal y piedra caliza, compensado por una disminución en los volúmenes de ventas, especialmente en la construcción. El beneficio bruto se disparó un 28,3% en el Q2 y un 28,0% en la primera mitad del año. USLM también declaró un dividendo trimestral de 0,05 dólares por acción y realizó una división de acciones de 5 por 1 el 12 de julio de 2024.
United States Lime & Minerals (NASDAQ: USLM)은 2024년 2분기 실적을 보고하면서 수익이 7,650만 달러로 전년 대비 3.5% 증가했다고 발표했습니다. 순이익은 32.2% 증가해 2,610만 달러(희석 후 주당 0.91달러)에 달했습니다. 2024년 상반기 동안 수익은 5.3% 증가한 1억 4,820만 달러에 이르렀으며, 순이익은 31.7% 증가한 4,850만 달러(희석 후 주당 1.69달러)에 달했습니다.
회사는 특히 건설 분야에서의 판매량 감소가 있었지만, 석회와 석회석 제품의 평균 판매 가격이 증가했습니다. 2분기 총 이익은 28.3% 증가했으며, 상반기 총 이익은 28.0% 증가했습니다. USLM은 또한 주당 0.05달러의 분기 배당금을 선언하고, 2024년 7월 12일 5대 1의 주식 분할을 실시했습니다.
United States Lime & Minerals (NASDAQ: USLM) a annoncé ses résultats du Q2 2024 avec des revenus de 76,5 millions de dollars, en hausse de 3,5 % par rapport à l'année précédente. Le bénéfice net a augmenté de 32,2 % pour atteindre 26,1 millions de dollars (0,91 dollar par action diluée). Au cours des six premiers mois de 2024, les revenus ont augmenté de 5,3 % pour atteindre 148,2 millions de dollars, tandis que le bénéfice net a progressé de 31,7 % pour atteindre 48,5 millions de dollars (1,69 dollar par action diluée).
La société a connu une augmentation des prix de vente moyens pour les produits à base de chaux et de calcaire, compensée par une diminution des volumes de vente, en particulier dans le secteur de la construction. Le bénéfice brut a bondi de 28,3 % au Q2 et de 28,0 % pour le premier semestre. USLM a également déclaré un dividende trimestriel de 0,05 dollar par action et a procédé à un fractionnement d'actions de 5 pour 1 le 12 juillet 2024.
United States Lime & Minerals (NASDAQ: USLM) berichtete über Q2 2024 Ergebnisse mit einem Umsatz von 76,5 Millionen Dollar, was einem Anstieg von 3,5 % im Vergleich zum Vorjahr entspricht. Der Nettogewinn stieg um 32,2 % auf 26,1 Millionen Dollar (0,91 Dollar pro verwässerter Aktie). In den ersten sechs Monaten des Jahres 2024 stieg der Umsatz um 5,3 % auf 148,2 Millionen Dollar, während der Nettogewinn um 31,7 % auf 48,5 Millionen Dollar (1,69 Dollar pro verwässerter Aktie) zunahm.
Das Unternehmen verzeichnete höhere durchschnittliche Verkaufspreise für Kalk- und Kalksteinprodukte, was jedoch durch sinkende Verkaufsvolumen, insbesondere im Bauwesen, ausgeglichen wurde. Der Bruttogewinn stieg im Q2 um 28,3 % und im ersten Halbjahr um 28,0 %. USLM erklärte zudem eine vierteljährliche Dividende von 0,05 Dollar pro Aktie und führte am 12. Juli 2024 einen Aktiensplit im Verhältnis 5:1 durch.
- Revenue increased 3.5% YoY to $76.5 million in Q2 2024
- Net income rose 32.2% to $26.1 million in Q2 2024
- Gross profit increased 28.3% to $34.8 million in Q2 2024
- Average selling prices for lime and limestone products increased
- Declared regular quarterly cash dividend of $0.05 per share
- Completed a 5-for-1 stock split on July 12, 2024
- Decreased sales volumes, particularly from construction customers
- SG&A expenses increased 13.0% to $4.9 million in Q2 2024
Insights
United States Lime & Minerals' Q2 2024 results reveal a solid performance despite challenging conditions in the construction sector. The company reported
Notably, gross profit surged by
Net income rose impressively by
The declaration of a
The Q2 2024 results for United States Lime & Minerals offer intriguing insights into broader market trends. The company's performance reflects a mixed demand landscape across various sectors, providing a microcosm of the wider economy.
The decreased demand from construction customers, attributed to unusually heavy rainfall, highlights the vulnerability of certain industries to climate factors. This trend could have wider implications for the construction and materials sectors if extreme weather events become more frequent.
Conversely, the increased demand from industrial and roof shingle customers suggests potential strength in manufacturing and housing-related activities. This divergence in sector performance underscores the importance of a diversified customer base in navigating market fluctuations.
The company's ability to raise prices without significantly impacting volume suggests a relatively inelastic demand for their products, indicating a strong market position. This pricing power could be particularly valuable in an inflationary environment.
Looking ahead, the anticipated improvement in construction demand with better weather conditions points to a potentially cyclical nature of the company's performance. Investors and industry observers should closely monitor weather patterns and construction activity in the south-central United States for indicators of future performance in the lime and limestone sector.
DALLAS, July 31, 2024 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported second quarter 2024 results: The Company’s revenues in the second quarter 2024 were
The Company’s gross profit was
Selling, general and administrative (“SG&A”) expenses were
Other (income) expense, net was
The Company reported net income of
“In the second quarter 2024, we experienced reduced demand from our construction customers as heavier than usual rainfalls contributed to the delay of construction projects in the south-central United States,” said Timothy W. Byrne, President and Chief Executive Officer. “Looking ahead, we expect improved demand from our construction customers will come with improved weather conditions,” Mr. Byrne added.
Stock Split
On July 12, 2024, the Company effected a 5-for-1 split of its common stock in the form of a stock dividend of four additional shares of common stock for each share outstanding to shareholders of record at the close of business on June 21, 2024. All share and per share information throughout this News Release has been retroactively adjusted to reflect the stock split.
Dividend
The Company announced today that the Board of Directors has declared a regular quarterly cash dividend of
United States Lime & Minerals, Inc., a NASDAQ-listed public company with headquarters in Dallas, Texas, is a manufacturer of lime and limestone products, supplying primarily the construction (including highway, road and building contractors), industrial (including paper and glass manufacturers), metals (including steel producers), environmental (including municipal sanitation and water treatment facilities and flue gas treatment processes), roof shingle manufacturers, oil and gas services, and agriculture (including poultry producers) industries. The Company operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Missouri, Oklahoma, and Texas through its wholly owned subsidiaries, Arkansas Lime Company, ART Quarry TRS LLC (DBA Carthage Crushed Limestone), Colorado Lime Company, Mill Creek Dolomite, LLC, Texas Lime Company, U.S. Lime Company, U.S. Lime Company-Shreveport, U.S. Lime Company-St. Clair, and U.S. Lime Company-Transportation. In addition, the Company, through its wholly owned subsidiary, U.S. Lime Company-O & G, LLC, has royalty and non-operated working interests in natural gas wells located in Johnson County, Texas, in the Barnett Shale Formation.
Any statements contained in this news release, including, but not limited to, statements relating to changes in demand and timing of customer projects, that are not statements of historical fact are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to publicly update or revise any forward-looking statements, and investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from expectations, including without limitation those risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.
(Tables Follow)
| United States Lime & Minerals, Inc. CONDENSED CONSOLIDATED FINANCIAL DATA (In thousands, except per share amounts) (Unaudited) | |||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||
| June 30, | June 30, | ||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||
| INCOME STATEMENTS | |||||||||||||||||
| Revenues | $ | 76,545 | $ | 73,983 | $ | 148,232 | $ | 140,760 | |||||||||
| Cost of revenues | 41,723 | 46,852 | 82,803 | 89,637 | |||||||||||||
| Gross profit | $ | 34,822 | $ | 27,131 | $ | 65,429 | $ | 51,123 | |||||||||
| Selling, general and administrative expenses | $ | 4,882 | $ | 4,319 | $ | 9,730 | $ | 8,471 | |||||||||
| Operating profit | $ | 29,940 | $ | 22,812 | $ | 55,699 | $ | 42,652 | |||||||||
| Other (income) expense, net | (2,786 | ) | (1,825 | ) | (5,326 | ) | (3,332 | ) | |||||||||
| Income tax expense | 6,669 | 4,925 | 12,529 | 9,168 | |||||||||||||
| Net income | $ | 26,057 | $ | 19,712 | $ | 48,496 | $ | 36,816 | |||||||||
| Income per share of common stock: | |||||||||||||||||
| Basic | $ | 0.91 | $ | 0.69 | $ | 1.70 | $ | 1.29 | |||||||||
| Diluted | $ | 0.91 | $ | 0.69 | $ | 1.69 | $ | 1.29 | |||||||||
| Weighted-average shares outstanding: | |||||||||||||||||
| Basic | 28,590 | 28,460 | 28,564 | 28,440 | |||||||||||||
| Diluted | 28,698 | 28,530 | 28,661 | 28,510 | |||||||||||||
| Cash dividends per share of common stock | $ | 0.05 | $ | 0.04 | $ | 0.10 | $ | 0.08 | |||||||||
| June 30, | December 31, | ||||||||||||||||
| 2024 | 2023 | ||||||||||||||||
| BALANCE SHEETS | |||||||||||||||||
| Assets: | |||||||||||||||||
| Current assets | $ | 299,551 | $ | 254,969 | |||||||||||||
| Property, plant and equipment, net | 177,848 | 179,795 | |||||||||||||||
| Other non-current assets | 6,756 | 5,838 | |||||||||||||||
| Total assets | $ | 484,155 | $ | 440,602 | |||||||||||||
| Liabilities and Stockholders’ Equity: | |||||||||||||||||
| Current liabilities | $ | 14,069 | $ | 17,491 | |||||||||||||
| Deferred tax liabilities, net | 24,258 | 24,659 | |||||||||||||||
| Other long-term liabilities | 4,739 | 5,348 | |||||||||||||||
| Stockholders’ equity | 441,089 | 393,104 | |||||||||||||||
| Total liabilities and stockholders’ equity | $ | 484,155 | $ | 440,602 | |||||||||||||
Contact: Timothy W. Byrne
(972) 991-8400
FAQ
What were United States Lime & Minerals' Q2 2024 financial results?
Did USLM declare a dividend for Q2 2024?
When did United States Lime & Minerals (USLM) implement its stock split?
How did USLM's gross profit change in Q2 2024 compared to Q2 2023?
