United States Lime & Minerals Inc.: Q4 FY2025 earnings call

What management said about Q4 FY2025, from the documents filed with the SEC on 2 February 2026: press release. Guidance figures: 1 kept. The quarter’s numbers.

Key takeaways

Fourth-quarter revenue rose 9.8%: Revenue was $87.9 million against $80.1 million a year earlier, an increase of $7.9 million on higher sales volumes. Source
Full-year revenue rose 17.3%: Full-year revenue was $372.7 million, up $55.0 million from 2024. Source
Net income and diluted EPS rose: Net income was $30.5 million, or $1.06 per diluted share, for the fourth quarter, and $134.3 million, or $4.67, for the full year. Source
Construction and steel drove fourth quarter: Higher fourth-quarter sales volumes came principally from construction and steel customers. Source
January storm interrupted commerce: A major winter storm in January 2026 interrupted commerce in the company's service areas. Source
First-quarter impact not determined: The company has not determined the storm's impact, if any, on first-quarter 2026 financial performance. Source

“We are pleased with the Company’s financial performance in 2025. Overall demand was up, compared to 2024, led by our construction customers, including the construction of some large data centers in the regions that we serve,”
Timothy W. Byrne, President and Chief Executive Officer

Guidance

Area	Period	Figure	Against last quarter
Quarterly cash dividend Source	quarter payable March 13, 2026	$0.06 per share	Kept

What changed from last quarter

New: A January 2026 winter storm interrupted commerce in the company's service areas. The prior release did not cover this event. Source
Guidance kept: The quarterly dividend stayed at $0.06 per share, the same as in the third quarter 2025 release. Source

Fourth quarter and full-year results

Fourth-quarter revenue rose 9.8%: Revenue was $87.9 million against $80.1 million a year earlier, an increase of $7.9 million on higher sales volumes. Source
Full-year revenue rose 17.3%: Full-year revenue was $372.7 million, up $55.0 million from 2024. Source
Net income and diluted EPS rose: Net income was $30.5 million, or $1.06 per diluted share, for the fourth quarter, and $134.3 million, or $4.67, for the full year. Source
Revenue below third-quarter level: Fourth-quarter revenue of $87.9 million was below the $102.0 million the prior release reported for the third quarter of 2025.

Demand by customer group

Construction and steel drove fourth quarter: Higher fourth-quarter sales volumes came principally from construction and steel customers. Source
Full-year volume growth from construction: Full-year volumes rose on construction, environmental and steel demand, partly offset by lower oil and gas services volumes. Source
Full-year revenue gains from volume and price: Full-year revenue growth reflected higher sales volumes and higher average selling prices for the company's lime and limestone products. Source

“We see general delays in customer shipments due to winter weather interruptions as well as continuing weakness in demand from our roof shingle customers in the first quarter 2026,”
Timothy W. Byrne, President and Chief Executive Officer

Gross profit, SG&A and other income

Fourth-quarter gross profit up 19.0%: Gross profit was $42.2 million, up $6.7 million, with the company attributing the increase primarily to higher revenue. Source
Full-year gross profit up 26.7%: Full-year gross profit reached $182.4 million, up $38.4 million, which the company attributed to higher revenue. Source
SG&A rose on personnel costs: Fourth-quarter SG&A rose to $6.2 million, a 41.6% increase, which the company primarily attributed to personnel expenses. Source
Other income from interest on cash: Other income rose on interest earned on higher average cash balances, reaching $3.6 million in the fourth quarter and $13.2 million for the year. Source

Winter storm and first quarter 2026

January storm interrupted commerce: A major winter storm in January 2026 interrupted commerce in the company's service areas. Source
Plants undamaged by the storm: The company said its plants sustained no damage from the storm, although product shipments were interrupted. Source
First-quarter impact not determined: The company has not determined the storm's impact, if any, on first-quarter 2026 financial performance. Source

Plants, end markets and footprint

Plants across six states: Lime and limestone plants and distribution facilities operate in six states through wholly owned subsidiaries. Source
End markets span several industries: Products go primarily to construction, industrial, environmental, metals, roof shingle, agriculture and oil and gas services customers. Source
Royalty and working interests in wells: A subsidiary holds royalty and non-operated working interests in natural gas wells in Johnson County, Texas, in the Barnett Shale Formation. Source

Dividend and management view

Quarterly dividend held at $0.06: The Board declared a regular quarterly cash dividend of $0.06 per share on the company's common stock. Source
Management sees 2025 demand up: Byrne said 2025 demand rose over 2024, led by construction customers, including some large data centers in the company's regions. Source
Roof shingle demand issues continuing: Byrne cited shipment delays from winter weather and continued roof shingle demand issues into the first quarter 2026. Source

Coming up, as management said on 2 February 2026

Dividend payment and record dates: The $0.06 dividend is payable March 13, 2026 to holders of record at the close of business on February 20, 2026. Source

Risks management discussed

Operational: The January storm interrupted commerce in company service areas and interrupted product shipments for a period. Source
Demand: Roof shingle customer demand issues were noted as continuing into the first quarter 2026. 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 FOURTH QUARTER AND FULL YEAR 2025

RESULTS AND DECLARES REGULAR QUARTERLY CASH DIVIDEND

Dallas, Texas, February 2, 2026 - United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported fourth quarter and full year 2025 results: The Company’s revenues in the fourth quarter 2025 were $87.9 million, compared to $80.1 million in the fourth quarter 2024, an increase of $7.9 million, or 9.8%. The increase in revenues in the fourth quarter 2025, compared to the fourth quarter 2024, resulted primarily from increased sales volumes, principally due to increased demand from the Company’s construction and steel customers, partially offset by decreased demand from the Company’s oil and gas services and roof shingle customers.

For the full year 2025, the Company’s revenues were $372.7 million, compared to $317.7 million in the full year 2024, an increase of $55.0 million, or 17.3%. The increase in revenues in the full year 2025, compared to the full year 2024, resulted from increases in sales volumes and average selling prices of the Company’s lime and limestone products. The increase in sales volumes for the full year 2025 was principally due to increased demand from the Company’s construction, environmental, and steel customers, partially offset by decreased demand from the Company’s oil and gas services customers.

The Company’s gross profit was $42.2 million in the fourth quarter 2025, compared to $35.4 million in the fourth quarter 2024, an increase of $6.7 million, or 19.0%. The Company’s gross profit in the full year 2025 was $182.4 million, compared to $144.0 million in the full year 2024, an increase of $38.4 million, or 26.7%. The increases in gross profit in the fourth quarter and the full year 2025, compared to the comparable 2024 periods, resulted primarily from the increases in revenues discussed above.

Selling, general and administrative (“SG&A”) expenses were $6.2 million in the fourth quarter 2025, compared to $4.4 million in the fourth quarter 2024, an increase of $1.8 million, or 41.6%. SG&A expenses were $24.5 million in the full year 2025, compared to $19.1 million in the full year 2024, an increase of $5.5 million, or 28.8%. The increases in SG&A expenses in the fourth quarter and the full year 2025, compared to the comparable 2024 periods, were primarily due to increased personnel expenses.

Other (income) expense, net was $3.6 million and $13.2 million income in the fourth quarter and the full year 2025, respectively, compared to $3.1 million and $11.5 million income in the fourth quarter and the full year 2024, respectively, reflecting increases of $0.5 million and $1.7 million, respectively. The increases in other (income) expense, net for the fourth quarter and the full year 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 $30.5 million ($1.06 per share diluted) and $134.3 million ($4.67 per share diluted) in the fourth quarter and the full year 2025, respectively, compared to $27.0 million ($0.94 per share diluted) and $108.8 million ($3.79 per share diluted) in the fourth quarter and the full year 2024, respectively, reflecting increases of $3.6 million, or 13.2%, and $25.4 million, or 23.4%, respectively.

In January 2026, much of North America experienced an expansive major winter storm which interrupted commerce in the areas the Company serves. The Company’s plants did not sustain any damage from the storm, but product shipments were interrupted for a period of time. The impact, if any, on the Company’s first quarter 2026 financial performance has not been determined.

“We are pleased with the Company’s financial performance in 2025. Overall demand was up, compared to 2024, led by our construction customers, including the construction of some large data centers in the regions that we serve,” said Timothy W. Byrne, President and Chief Executive Officer. “We see general delays in customer shipments due to winter weather interruptions as well as continuing weakness in demand from our roof shingle customers in the first quarter 2026,” 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 March 13, 2026 to shareholders of record at the close of business on February 20, 2026.

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		Year Ended
	December 31,		December 31,
	2025	2024	2025	2024
INCOME STATEMENTS
Revenues	$87,940	$80,062	$372,727	$317,721
Cost of revenues	45,765	44,623	190,329	173,740
Gross profit	$42,175	$35,439	$182,398	$143,981
Selling, general and administrative expenses	6,161	4,352	24,539	19,058
Operating profit	$36,014	$31,087	$157,859	$124,923
Other (income) expense, net	(3,553)	(3,073)	(13,158)	(11,460)
Income tax expense	9,018	7,170	36,742	27,544
Net income	$30,549	$26,990	$134,275	$108,839
Income per share of common stock:
Basic	$1.07	$0.94	$4.69	$3.81
Diluted	$1.06	$0.94	$4.67	$3.79
Weighted-average shares outstanding:
Basic	28,639	28,596	28,635	28,579
Diluted	28,740	28,706	28,733	28,688
Cash dividends per share of common stock	$0.06	$0.05	$0.24	$0.20
			December 31,	December 31,
			2025	2024
BALANCE SHEETS
Assets:
Current assets			$455,316	$354,782
Property, plant and equipment, net			221,421	182,891
Other non-current assets			4,307	5,490
Total assets			$681,044	$543,163
Liabilities and Stockholders’ Equity:
Current liabilities			$23,632	$16,962
Deferred tax liabilities, net			22,999	23,659
Other long-term liabilities			3,653	4,801
Stockholders’ equity			630,760	497,741
Total liabilities and stockholders’ equity			$681,044	$543,163

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