United States Lime & Minerals Reports Fourth Quarter and Full Year 2023 Results and Declares Increased Regular Quarterly Cash Dividend
DALLAS, Feb. 02, 2024 (GLOBE NEWSWIRE) — United States Lime & Minerals, Inc. (NASDAQ:USLM) today reported fourth quarter and full year 2023 results: The Company’s revenues in the fourth quarter 2023 were $65.7 million, compared to $58.3 million in the fourth quarter 2022, an increase of $7.4 million, or 12.7%. For the full year 2023, the Company’s revenues were $281.3 million, compared to $236.2 million in the full year 2022, an increase of $45.2 million, or 19.1%. Lime and limestone revenues were $65.4 million in the fourth quarter 2023, compared to $57.8 million in the fourth quarter 2022, an increase of $7.6 million, or 13.1%. For the full year 2023, lime and limestone revenues were $280.2 million, compared to $233.4 million in the full year 2022, an increase of $46.8 million, or 20.0%. The increases in revenues in the fourth quarter and full year 2023, compared to the comparable 2022 periods, resulted from increases in average selling prices for the Company’s lime and limestone products, partially offset by decreased sales volumes. The decrease in sales volumes in the fourth quarter 2023, compared to the fourth quarter 2022, was principally due to decreased demand from the Company’s industrial and construction customers, partially offset by increased demand from its roofing and oil and gas services customers. The decrease in sales volumes in the full year 2023, compared to the full year 2022, were principally due to decreased demand from the Company’s industrial, steel, and construction customers, partially offset by increased demand from the Company’s roofing, environmental, and oil and gas services customers.