United States Lime & Minerals (USLM) Q4 2024 earnings summary

Executive summary

• Fourth quarter 2024 revenues rose 21.9% year-over-year to $80.1 million, driven by higher selling prices and increased volumes in key customer segments.

• Full year 2024 revenues increased 12.9% to $317.7 million, with growth in average selling prices partially offset by lower construction demand.

• Net income for Q4 2024 was $27.0 million ($0.94 per diluted share), up 58.8% year-over-year; full year net income reached $108.8 million ($3.79 per diluted share), up 46.0%.

Financial highlights

• Gross profit for Q4 2024 was $35.4 million, up 50.2% year-over-year; full year gross profit was $144.0 million, up 40.0%.

• Operating profit for Q4 2024 was $31.1 million, up from $19.0 million in Q4 2023; full year operating profit was $124.9 million, up from $85.4 million.

• SG&A expenses decreased 5.8% in Q4 2024 but rose 9.2% for the full year due to higher personnel costs.

• Other income, net, increased to $3.1 million in Q4 and $11.5 million for the year, mainly from higher interest income.

• Cash dividends per share increased to $0.20 for 2024, up from $0.16 in 2023.

Outlook and guidance

• Management remains guardedly optimistic for early 2025 despite slightly lower overall demand in 2024.