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Lime, limestone sales up at USLM

By |  October 29, 2020

USLM United States Lime & Minerals logo 600x400

Sales of lime and limestone products drove a slight increase in third-quarter revenues at United States Lime & Minerals (USLM), whose total revenues ($43.7 million) were up 0.4 percent for the quarter.

According to USLM, the increase in lime and limestone products derived primarily from its agriculture and roofing customers and principally due to the acquisition of Carthage Crushed Limestone, which the company added July 1.

Third-quarter revenues were also favorably impacted by an increase in the average selling prices for the company’s lime and limestone products, USLM says. The company, however, experienced decreased demand from its oil and gas services, environmental and construction customers in the third quarter.

Additional insights

Still, a decrease in USLM revenues for the first nine months of the year resulted primarily from reduced sales volumes and, in turn, reduced demand for the company’s lime and limestone products.

USLM expects a continued slowdown in economic activity as restrictions continue, or even expand, which it anticipates will have an adverse impact on the demand for its lime and limestone products. In addition, a continued economic slowdown may put downward pressure on the prices the company is able to realize for its products, USLM says.

“During the third quarter 2020, we continued to see the negative impact on demand from some of our customers in industries more heavily impacted by the COVID-19 induced economic slowdown, especially oil and gas services and power generation,” says Timothy Byrne, president and CEO of USLM. “Our positive results from the third quarter 2020 are the result of the agility of our people as they face constantly evolving challenges presented by the fallout from the COVID-19 pandemic. We will continue to be diligent in controlling our costs and finding ways to further increase operating efficiencies to mitigate some of the adverse effects of the decreases in demand resulting from the pandemic.”

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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