The Monarch Cement Company (MCEM) Q2 2024 earnings summary

Executive summary

• Monarch Cement Company manufactures and sells portland cement and related products, serving Kansas, Iowa, Nebraska, Missouri, Arkansas, and Oklahoma through its plant and subsidiaries.

• No change in control, bankruptcy, or significant legal proceedings occurred during the reporting period.

• The company is not a shell company and has maintained active corporate status since 1913.

Financial highlights

• Net sales for the six months ended June 30, 2024 were $122.4M, up slightly from $121.9M year-over-year.

• Net income for the six months was $28.1M, down from $35.4M year-over-year.

• Gross profit for the six months was $42.2M, up from $39.5M year-over-year.

• Basic EPS for the six months was $7.67, compared to $9.54 year-over-year.

• Cash and cash equivalents at June 30, 2024 were $38.7M, down from $57.3M at year-end 2023.

Outlook and guidance

• The company expects raw material reserves to support operations for over 50 years at current production levels.

• No minimum pension contributions are expected for 2024; postretirement benefit expenditures are estimated at $924,000 for the year.