Lime and limestone revenues were up 27 percent in the third quarter at United States Lime & Minerals (USLM).
In dollar terms, USLM’s lime and limestone revenues jumped from $51.7 million in the third quarter of 2021 to $65.7 million in this year’s third quarter.
According to USLM, the revenue increase was driven primarily from increased sales volumes in construction, agriculture, roofing, and oil and gas services. An increase in average selling prices also played a role, the company says.
USLM’s lime and limestone revenues for the first nine months of 2022 were $175.6 million. That mark is up 23.8 percent, or $33.8 million, compared to the same period of 2021.
“We are pleased with our performance in the third quarter, particularly considering the inflationary and supply chain challenges we are facing,” says Timothy Byrne, president and CEO of USLM. “We have made progress in passing along the cost increases that we have experienced this year. We continue to see strong demand from our construction customers and have benefited from long stretches of dry weather in our Texas markets.”
