US Lime shares first-quarter 2019 results
United States Lime & Minerals reported revenues from its lime and limestone operations in the first quarter increased $2.8 million, or 7.9 percent, to $37.5 million from $34.7 million in the comparable 2018 quarter.
According to the company, the increase in lime and limestone revenues was due to increased demand – primarily from the company’s construction customers – and a slight increase in average prices realized for the company’s lime and limestone products. Demand from construction customers in the comparable 2018 quarter was down due in part to the impact of inclement weather conditions in Texas during the 2018 period on construction projects, US Lime adds.
In addition, gross profit from the company’s lime and limestone operations was $8.7 million in the first quarter, compared to $6.8 million in the first quarter of 2018 – a 27.9 percent increase. This increase also came as a result of increased demand and a slight increase in average prices, the company says.
“During the first quarter 2019, we were fortunate to have weather patterns in Texas return closer to historical norms, and our construction demand benefited accordingly,” says Timothy Byrne, president and CEO of US Lime. “We are pleased to see early indications of modest price increases for our lime and limestone products in 2019, which has contributed to the improvement in our gross profit margins. In the first quarter 2019, we applied heat to our new kiln at St. Clair and began testing lime production. If testing remains on schedule, we anticipate producing consistent, commercially saleable quicklime in the second quarter.”
US Lime has lime and limestone operations in Arkansas, Colorado, Louisiana, Oklahoma and Texas.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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