United States Lime & Minerals, Inc. reported a decrease in financial performance for the first quarter of 2026, with revenues totaling $87.8 million, down 3.7% from $91.3 million in the same period of 2025. The decline in revenue was attributed primarily to a 3.4% decrease in sales volumes of lime and limestone products, driven by reduced demand from construction, oil and gas, and roof shingle customers. Despite this, there was a slight increase in demand from steel customers. The company's gross profit also fell to $41.8 million, a decrease of 9.5% compared to the previous year, largely due to the drop in revenues and rising fuel and transportation costs.
Net income for the first quarter of 2026 was reported at $30.6 million, or $1.06 per diluted share, down from $34.1 million, or $1.19 per diluted share, in the first quarter of 2025. This represents a decrease of 10.4% in net income, reflecting the overall decline in revenue and increased operational costs. Selling, general, and administrative expenses decreased slightly to $6.0 million from $6.3 million, primarily due to lower personnel expenses, including stock-based compensation. The company’s income tax expense also decreased to $8.4 million from $8.9 million, correlating with the lower income before taxes.
In terms of operational developments, United States Lime & Minerals is progressing with the construction of a new vertical kiln at its Texas Lime Company plant, with an estimated total cost of approximately $65 million. The kiln is expected to begin operations in the summer of 2026, and the company has already incurred $48.5 million in costs related to this project. The company’s capital expenditures for the first quarter of 2026 were $18.3 million, an increase from $14.9 million in the same quarter of 2025, reflecting ongoing investments in infrastructure.
The company’s liquidity position remains strong, with cash and cash equivalents increasing to $383.2 million as of March 31, 2026, up from $371.1 million at the end of 2025. Net cash provided by operating activities was $32.1 million, down from $39.4 million in the prior year, primarily due to changes in working capital. United States Lime & Minerals maintains a $75 million revolving credit facility, with no debt outstanding as of the end of the first quarter, indicating a solid financial footing to support ongoing operations and future projects.
Looking ahead, the company remains optimistic about demand from construction customers despite the recent revenue decline. The management anticipates that the completion of the new kiln will enhance production capabilities and potentially improve profitability in the future. However, the company acknowledges the challenges posed by market conditions and fluctuating demand across various sectors, which may impact its performance in the upcoming quarters.
About UNITED STATES LIME & MINERALS INC
United States Lime & Minerals, Inc. is a leading manufacturer of lime and limestone products serving construction, industrial, environmental, and oil and gas markets across the U.S. The company operates quarries, mines, and processing plants, producing high-quality limestone, quicklime, hydrated lime, and lime slurry. Its core value lies in high-quality resources, regional focus, and efficient distribution, supporting diverse industries with environmentally compliant, reliable, and competitively priced products.
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