United States Lime & Minerals (USLM) reported its first-quarter results Wednesday, sharing that revenues tied to lime and limestone were up.
Specifically, USLM says lime and limestone revenues in the quarter increased 32.2 percent to $66.5 million. USLM attributes the revenue jump to increases in average selling prices and volumes.
Additionally, USLM’s first-quarter gross profit in lime and limestone was $24.1 million. That figure is up 69.5 percent versus the first quarter of 2022.
“We are pleased with our performance in the first quarter,” says Timothy Byrne, president and CEO of USLM. “Looking ahead for the remainder of 2023, we anticipate continuing pressure on our lime and limestone production costs and believe general recessionary concerns could potentially impact future demand for our products.”
