USLM business up in fourth quarter 2020

Lime and limestone sales drove United States Lime & Minerals’ (USLM) revenues up in the fourth quarter last year.

According to USLM, its fourth-quarter revenues came in 8 percent higher at $41 million. The company achieved fourth-quarter 2019 revenues of $38 million.

Carthage Crushed Limestone, which USLM acquired in July 2020, contributed $2.3 million to the company’s revenues for the fourth quarter.

“During the fourth quarter [of] 2020, we continued to see strong demand from our construction customers, and we are encouraged by the return of demand from our steel and power generation customers, although the economic slowdown continues to adversely impact demand from oil and gas services customers,” says Timothy Byrne, president and
CEO at USLM. “We believe the Carthage acquisition has complemented our existing geographic footprint, and we are moving to integrate its operations and customer base.

For all of 2020, USLM’s revenues were $160.7 million. That compares to $158.3 million for all of 2019 – an increase of $2.4 million, or 1.5 percent.

“I am pleased with our overall financial performance this year and the outstanding efforts of our employees in the face of the unprecedented challenges brought about by the pandemic,” Byrne says. “We will continue to be diligent in focusing on the safety of our employees and individuals at our facilities that deliver lime and limestone products to the essential businesses and communities we serve, and finding additional ways to further increase operating efficiencies to mitigate some of the adverse effects of any decreases in demand and increased costs resulting from the pandemic.”