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United States Lime & Minerals (USLM) investor relations material
United States Lime & Minerals Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenues increased 14.1% in Q3 2025 and 19.8% for the first nine months year-over-year, driven by higher sales volumes and increased average selling prices, especially to construction, environmental, and steel customers, partially offset by lower demand from oil and gas services customers.
Net income reached $38.8 million ($1.35 per diluted share) in Q3 2025, up 16.3% year-over-year; nine-month net income was $103.7 million ($3.61 per diluted share), up 26.7%.
Gross profit rose 21.1% in Q3 and 29.2% for the first nine months, reflecting the revenue growth.
Strong demand from construction, environmental, and steel customers offset weaker oil and gas services demand.
Construction began in 2024 on a new vertical kiln at the Texas Lime Company plant, with estimated costs of $65 million and completion expected in 2026.
Financial highlights
Q3 2025 revenues: $102.0 million (Q3 2024: $89.4 million); nine months: $284.8 million (2024: $237.7 million).
Q3 2025 gross profit: $52.2 million (Q3 2024: $43.1 million); nine months: $140.2 million (2024: $108.5 million).
Q3 2025 operating profit: $46.3 million (Q3 2024: $38.1 million); nine months: $121.8 million (2024: $93.8 million).
Cash and cash equivalents at September 30, 2025: $349.5 million, up from $278.0 million at December 31, 2024.
Stockholders' equity increased to $602.3 million as of September 30, 2025, from $497.7 million at year-end 2024.
Outlook and guidance
Ongoing demand from data center construction is expected to continue, partially offset by softer demand in other served industries.
Sufficient cash and cash flows from operations are expected to meet operating, capital, and dividend needs in the near future, barring significant acquisitions.
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