First-quarter 2020 revenues up at USLM

By |  April 30, 2020

Logo: USLM

United States Lime & Minerals (USLM) reports first-quarter 2020 revenues of $38.4 million, a 1.7 percent increase compared to $37.8 million in the first quarter of 2019.

According to USLM, the improved revenue is the result of an increase in the average selling price for its lime and limestone products.

The coronavirus (COVID-19) did not have a “material impact” on USLM’s first quarter, the company says, as federal, state and local governmental responses took effect the last two weeks of March.

“As we respond to the unprecedented times brought upon us all by the COVID-19 pandemic, we have not wavered in our commitment to the safety of our employees and the other individuals at our facilities that deliver lime and limestone products to the essential businesses and communities we serve,” says Timothy Byrne, president and CEO at USLM. “In addition to our standard health and safety protocols, we have implemented enhanced protocols at all of our locations, including reduced access to facilities, screening of individuals on all sites, and the enforcement of social distancing and other practices that are consistent with, or exceed, the guidelines of the Center for Disease Control.”

USLM also says it expects “a slowdown in the national economy beginning in the second quarter” with a possible greater impact in certain industries.

“We are pleased with our first-quarter 2020 results, but acknowledge that the significant amount of current economic uncertainty will negatively impact our customers and their demand for our lime and limestone products as we progress through the rest of the year,” Byrne says.

Headquartered in Dallas, USLM operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Oklahoma and Texas.

For additional P&Q coverage related to the coronavirus, visit our dedicated webpage.

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