Lime and limestone revenues were up slightly in the second quarter at United States Lime & Minerals (USLM).
According to USLM, lime and limestone revenues increased 3.5 percent in the second quarter to $76.3 million. Lime and limestone revenues were also up across the first six months of the year at USLM, jumping 5.3 percent to $147.7 million.
As USLM describes, increases in average selling prices partially offset lower sales volumes. USLM says lime and limestone volumes are down this year due to decreased demand from its construction customers. USLM, however, says it is experiencing increased demand for lime and limestone products from industrial and roof shingle customers.
“In the second quarter [of] 2024, we experienced reduced demand from our construction customers as heavier-than-usual rainfalls contributed to the delay of construction projects in the south central United States,” says Timothy Byrne, president and CEO of USLM. “Looking ahead, we expect improved demand from our construction customers will come with improved weather conditions.”
Additionally, USLM says its lime and limestone gross profit in the second quarter was $34.8 million – up from 28.4 percent from the second quarter of 2023. The company’s lime and limestone gross profit in the first six months of 2024 was $65.5 million. That total is up 28 percent versus the first half of 2023.
