USLM lime and limestone revenues up in first quarter
United States Lime & Minerals Inc. (USLM) revenues were up 7.6 percent in the first quarter this year to $36.2 million.
Revenues from the company’s lime and limestone operations in the first quarter increased 7.1 percent, or $2.4 million, to $35.5 million. According to USLM, the increase in lime and limestone revenues resulted primarily from increased sales volumes of the company’s lime and limestone products due to increased demand, mainly from its oil and gas services customers.
Average prices for the company’s lime and limestone products in the first quarter were slightly lower compared to the first quarter in 2016, the company adds.
In addition, the company’s gross profit reached $8.2 million – a 6 percent increase – in the first quarter of 2017, compared with $7.8 million for the same time period in 2016. The gross profit included $8 million from USLM’s lime and limestone operations, compared with $7.9 million in the first quarter of 2016, USLM reports.
Finally, the company reported a net income of $4.6 million in the first quarter, compared to a net income of $4.1 million in the first quarter of 2016. This was a 13.6 percent increase, USLM says.
“We are pleased that our first quarter 2017 revenues and operating results improved over last year’s strong first quarter as we saw a rebound in demand from our oil and gas services customers, as well as continued strong demand from our construction customers,” says Timothy Byrne, president and CEO of USLM.
USLM, headquartered in Dallas, is a manufacturer of lime and limestone products. It supplies products primarily for the construction, environmental, industrial, metals, roof shingle, oil and gas, and agriculture industries.
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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