United States Lime & Minerals, Inc. reported a significant increase in financial performance for the first quarter of 2025, with revenues reaching $91.3 million, a 27.3% increase from $71.7 million in the same period of 2024. The company's gross profit also saw a substantial rise, climbing 50.8% to $46.2 million, driven primarily by a 19.2% increase in sales volumes and a 7.9% rise in average selling prices for lime and limestone products. Net income for the quarter was $34.1 million, or $1.19 per diluted share, compared to $22.4 million, or $0.78 per diluted share, in the prior year, marking a 52% increase in profitability.
The company's operational metrics reflected positive trends, with a notable increase in customer demand, particularly from construction and environmental sectors. This demand was bolstered by ongoing large construction projects. Additionally, the company reported a 45.2% increase in net cash provided by operating activities, totaling $39.4 million, compared to $27.2 million in the first quarter of 2024. The increase in cash flow was attributed to higher net income and effective management of working capital, despite a rise in trade receivables.
In terms of strategic developments, United States Lime & Minerals is currently constructing a new vertical kiln at its Texas Lime Company plant, with an estimated total cost of $65 million expected to be completed by 2026. The company has also maintained a strong balance sheet, with cash and cash equivalents increasing to $300.6 million as of March 31, 2025, up from $278.0 million at the end of 2024. The company has no outstanding debt and has utilized its revolving credit facility primarily for letters of credit related to the kiln project.
The company declared a quarterly cash dividend of $0.06 per share in March 2025, reflecting a commitment to returning value to shareholders. This dividend is consistent with the previous year and is indicative of the company's strong cash position and profitability. Looking ahead, United States Lime & Minerals remains optimistic about its growth prospects, driven by continued demand in its key markets and the successful execution of its capital projects. The company anticipates that its cash on hand and operational cash flows will be sufficient to meet its ongoing capital needs and support future dividend payments.
About UNITED STATES LIME & MINERALS INC
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