United States Lime & Minerals, Inc. reported a significant increase in financial performance for the third quarter and first nine months of 2025, as detailed in its latest 10-Q filing. The company generated revenues of $102.0 million for the third quarter, marking a 14.1% increase from $89.4 million in the same period of 2024. For the first nine months, revenues rose to $284.8 million, a 19.8% increase compared to $237.7 million in the prior year. The growth in revenue was primarily driven by an 8.9% increase in sales volumes and a 5.1% rise in average selling prices for lime and limestone products, attributed to heightened demand from construction, environmental, and steel sectors.
The company's gross profit also saw substantial growth, reaching $52.2 million in the third quarter, up 21.1% from $43.1 million a year earlier. For the first nine months, gross profit increased by 29.2% to $140.2 million, compared to $108.5 million in the same period of 2024. This improvement in profitability was largely due to the increased revenues. However, selling, general, and administrative expenses rose to $5.9 million in the third quarter and $18.4 million for the first nine months, reflecting higher personnel costs, including stock-based compensation.
Operationally, the company has been expanding its capabilities, notably through the construction of a new vertical kiln at its Texas Lime Company plant, with an estimated total cost of $65 million expected to be completed by 2026. As of September 30, 2025, the company reported a cash balance of $349.5 million, an increase from $278.0 million at the end of 2024, and had no outstanding debt, aside from $4.7 million in letters of credit related to the kiln project. The company’s capital expenditures for the first nine months of 2025 totaled $42.8 million, significantly higher than the $16.4 million spent in the same period of 2024.
Looking ahead, United States Lime & Minerals anticipates continued demand for its products, particularly from the data center construction sector, although it expects some softening in demand from other industries it serves. The company remains committed to maintaining its operational efficiency and financial health, with plans to manage its growth while navigating potential market fluctuations. The effective income tax rate for 2025 is estimated at 21.1%, influenced by state taxes and the recent One Big Beautiful Bill Act, which has reduced cash tax outflows without materially impacting the effective rate.
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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