United States Lime & Minerals Inc.: Q3 FY2025 earnings call

What management said about Q3 FY2025, from the documents filed with the SEC on 29 October 2025: press release. The quarter’s numbers.

Key takeaways

Third-quarter revenue rose 14.1%: Third-quarter revenues were $102.0 million, up $12.6 million or 14.1% from $89.4 million. Nine-month revenues were $284.8 million, up 19.8% from $237.7 million. Source
Net income and diluted EPS increased: Net income was $38.8 million, or $1.35 per diluted share, against $33.4 million, or $1.16, a year earlier. Nine-month net income was $103.7 million, or $3.61 per diluted share. Source
Construction, environmental and steel volumes grew: Sales volume increases in the 2025 periods came principally from construction, environmental and steel customers. Source

“We are pleased with the Company’s continued strong financial performance in the third quarter 2025.”
Timothy W. Byrne, President and Chief Executive Officer

Results and growth drivers

Third-quarter revenue rose 14.1%: Third-quarter revenues were $102.0 million, up $12.6 million or 14.1% from $89.4 million. Nine-month revenues were $284.8 million, up 19.8% from $237.7 million. Source
Net income and diluted EPS increased: Net income was $38.8 million, or $1.35 per diluted share, against $33.4 million, or $1.16, a year earlier. Nine-month net income was $103.7 million, or $3.61 per diluted share. Source
Other income rose on interest: Other income, net was $3.4 million in the third quarter, up $0.4 million. Nine-month other income was $9.6 million, up $1.2 million. Management attributed the increase to interest on higher average cash balances. Source

Volumes, customers and pricing

Construction, environmental and steel volumes grew: Sales volume increases in the 2025 periods came principally from construction, environmental and steel customers. Source
Oil and gas services volumes declined: Sales volume to oil and gas services customers decreased, partly offsetting the volume gains from other customer groups. Source
Prices and volumes both lifted revenue: Revenue growth in the third quarter and nine months came from higher sales volumes and higher average selling prices for lime and limestone products. Source

“Demand from our construction customers remained solid, supported by the construction of large data centers in the regions that we serve,”
Timothy W. Byrne, President and Chief Executive Officer

Costs and margins

Gross profit rose with revenue: Gross profit was $52.2 million in the third quarter, up $9.1 million or 21.1%. Nine-month gross profit was $140.2 million, up 29.2%. Source
Third-quarter SG&A rose on personnel: SG&A expenses were $5.9 million in the third quarter, up $1.0 million or 19.1%. Management attributed the rise to personnel costs, including stock-based compensation. Source
Nine-month SG&A up 25.0%: SG&A expenses for the first nine months were $18.4 million, up $3.7 million or 25.0% from $14.7 million in the prior-year period. Source

Dividend and capital returns

Quarterly dividend set at $0.06: The Board declared a regular quarterly cash dividend of $0.06 per share on the common stock. Source
Dividend rate unchanged from second quarter: The second-quarter release declared the same $0.06 quarterly dividend, so the per-share rate did not change between the two quarters.
Dividend payable December 12, 2025: The dividend is payable December 12, 2025 to shareholders of record at the close of business on November 21, 2025. Source

“Looking ahead, we anticipate a more mixed demand picture, with ongoing data center construction demand being partially offset by softer demand from some of the other industries that we serve,”
Timothy W. Byrne, President and Chief Executive Officer

Management commentary

Chief executive described quarter as strong: The chief executive said he was pleased with the company's continued financial performance in the third quarter of 2025. Source
Second-quarter wording was narrower: The second-quarter release described financial performance and construction demand, without the mixed-demand wording used in the third-quarter release.
Named speaker in the release: Timothy W. Byrne, President and Chief Executive Officer, is the named speaker for the management comments in the release. Source

Coming up, as management said on 29 October 2025

Dividend payment and record dates: The $0.06 quarterly dividend is payable December 12, 2025, to holders of record at the close of business on November 21, 2025. Source

Risks management discussed

Demand: Management expects softer demand from some other industries it serves to partly offset data center construction demand. Source
Demand: Sales volume to oil and gas services customers decreased during the 2025 periods. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

UNITED STATES LIME & MINERALS, INC. - NEWS RELEASE

UNITED STATES LIME & MINERALS REPORTS THIRD QUARTER 2025

RESULTS AND DECLARES REGULAR QUARTERLY CASH DIVIDEND

Dallas, Texas, October 29, 2025 - United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported third quarter 2025 results: The Company’s revenues in the third quarter 2025 were $102.0 million, compared to $89.4 million in the third quarter 2024, an increase of $12.6 million, or 14.1%. For the first nine months 2025, the Company’s revenues were $284.8 million, compared to $237.7 million in the first nine months 2024, an increase of $47.1 million, or 19.8%. The increases in revenues in the third quarter and first nine months 2025, compared to the comparable 2024 periods, resulted from increases in sales volumes and average selling prices of the Company’s lime and limestone products. The increases in sales volumes for the 2025 periods were principally due to the Company’s construction, environmental, and steel customers, partially offset by decreases in sales volume to the Company’s oil and gas services customers.

The Company’s gross profit was $52.2 million in the third quarter 2025, compared to $43.1 million in the third quarter 2024, an increase of $9.1 million, or 21.1%. The Company’s gross profit in the first nine months 2025 was $140.2 million, compared to $108.5 million in the first nine months 2024, an increase of $31.7 million, or 29.2%. The increases in gross profit in the third quarter and first nine months 2025, compared to the comparable 2024 periods, resulted primarily from the increases in revenues discussed above.

Selling, general and administrative (“SG&A”) expenses were $5.9 million in the third quarter 2025, compared to $5.0 million in the third quarter 2024, an increase of $1.0 million, or 19.1%. SG&A expenses were $18.4 million in the first nine months 2025, compared to $14.7 million in the first nine months 2024, an increase of $3.7 million, or 25.0%. The increases in SG&A expenses in the third quarter and first nine months 2025, compared to the comparable 2024 periods, were primarily due to increased personnel expenses, including stock-based compensation.

Other (income) expense, net was $3.4 million and $9.6 million income in the third quarter and first nine months 2025, compared to $3.1 million and $8.4 million income in the third quarter and first nine months 2024, reflecting increases of $0.4 million and $1.2 million, respectively. The increases in other (income) expense, net for the third quarter and first nine months 2025, compared to the comparable 2024 periods, were primarily due to interest earned on higher average balances of cash and cash equivalents.

The Company reported net income of $38.8 million ($1.35 per share diluted) and $103.7 million ($3.61 per share diluted) in the third quarter and first nine months 2025, compared to $33.4 million ($1.16 per share diluted) and $81.8 million ($2.85 per share diluted) in the third quarter and first nine months 2024, reflecting increases of $5.4 million, or 16.3%, and $21.9 million, or 26.7%, respectively.

“We are pleased with the Company’s continued strong financial performance in the third quarter 2025. Demand from our construction customers remained solid, supported by the construction of large data centers in the regions that we serve,” said Timothy W. Byrne, President and Chief Executive Officer. “Looking ahead, we anticipate a more mixed demand picture, with ongoing data center construction demand being partially offset by softer demand from some of the other industries that we serve,” Mr. Byrne added.

Dividend

The Company announced today that the Board of Directors has declared a regular quarterly cash dividend of $0.06 per share on the Company’s common stock. This dividend is payable on December 12, 2025 to shareholders of record at the close of business on November 21, 2025.

United States Lime & Minerals, Inc., a NASDAQ-listed public company with headquarters in Dallas, Texas, is a manufacturer of lime and limestone products, supplying primarily the construction (including highway, road and building contractors), industrial (including paper and glass manufacturers), environmental (including municipal sanitation and water treatment facilities and flue gas treatment processes), metals (including steel producers), roof shingle manufacturers, agriculture (including poultry producers), and oil and gas services industries. The Company operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Missouri, Oklahoma, and Texas through its wholly owned subsidiaries, Arkansas Lime Company, ART Quarry TRS LLC (DBA Carthage Crushed Limestone), Colorado Lime Company, Mill Creek Dolomite, LLC, Texas Lime Company, U.S. Lime Company, U.S. Lime Company-Shreveport, U.S. Lime Company-St. Clair, and U.S. Lime Company-Transportation. In addition, the Company, through its wholly owned subsidiary, U.S. Lime Company-O & G, LLC, has royalty and non-operated working interests in natural gas wells located in Johnson County, Texas, in the Barnett Shale Formation.

Any statements contained in this News Release, including, but not limited to, statements relating to demand, that are not statements of historical fact are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to publicly update or revise any forward-looking statements, and investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from expectations, including without limitation those risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.

(Tables Follow)

United States Lime & Minerals, Inc.

CONDENSED CONSOLIDATED FINANCIAL DATA

(In thousands, except per share amounts)

(Unaudited)

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2025	2024	2025	2024
INCOME STATEMENTS
Revenues	$102,016	$89,427	$284,787	$237,659
Cost of revenues	49,827	46,314	144,564	129,117
Gross profit	$52,189	$43,113	$140,223	$108,542
Selling, general and administrative expenses	5,927	4,976	18,378	14,706
Operating profit	$46,262	$38,137	$121,845	$93,836
Other (income) expense, net	(3,416)	(3,061)	(9,605)	(8,387)
Income tax expense	10,896	7,845	27,724	20,374
Net income	$38,782	$33,353	$103,726	$81,849
Income per share of common stock:
Basic	$1.35	$1.17	$3.62	$2.86
Diluted	$1.35	$1.16	$3.61	$2.85
Weighted-average shares outstanding:
Basic	28,639	28,594	28,633	28,574
Diluted	28,738	28,727	28,730	28,683
Cash dividends per share of common stock	$0.06	$0.05	$0.18	$0.15
			September 30,	December 31,
			2025	2024
BALANCE SHEETS
Assets:
Current assets			$440,286	$354,782
Property, plant and equipment, net			207,912	182,891
Other non-current assets			4,606	5,490
Total assets			$652,804	$543,163
Liabilities and Stockholders’ Equity:
Current liabilities			$23,146	$16,962
Deferred tax liabilities, net			23,414	23,659
Other long-term liabilities			3,975	4,801
Stockholders’ equity			602,269	497,741
Total liabilities and stockholders’ equity			$652,804	$543,163

end -

Contacts
Timothy W. Byrne · (972) 991-8400