US Lime & Minerals Q2 2024 Update

TL;DR

**USLM Q2 2024: Sales figures for the quarter and year-to-date are in. Revolving credit facility details also updated.**

AI Summary

United States Lime & Minerals Inc. reported its Q2 2024 results, with sales for the three months ended June 30, 2024, and the six months ended June 30, 2024, being detailed. The company's fiscal year ends on December 31st. The filing also references a revolving credit facility dated August 3, 2023.

Why It Matters

This filing provides investors with the latest financial performance data for United States Lime & Minerals Inc., crucial for understanding the company's operational health and market position.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative developments indicated.

Key Numbers

• 20240630 — Q2 2024 End Date (Reporting period for the current quarter's financial data.)
• 20240802 — Filing Date (Date the 10-Q was officially submitted to the SEC.)
• 1231 — Fiscal Year End (Indicates the end of the company's annual financial reporting cycle.)

Key Players & Entities

• UNITED STATES LIME & MINERALS INC (company) — Filer
• 0000082020 (company) — Central Index Key
• 20240630 (date) — Conformed Period of Report
• 20240802 (date) — Filed as of Date
• 972-991-8400 (phone_number) — Business Phone
• 2023-08-03 (date) — Revolving Credit Facility Date

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common stock, $0.10 par value USLM The Nasdaq Stock Mar

Filing Documents

• uslm-20240630x10q.htm (10-Q) — 923KB
• uslm-20240630xex3d1.htm (EX-3.1) — 28KB
• uslm-20240630xex10d1.htm (EX-10.1) — 119KB
• uslm-20240630xex31d1.htm (EX-31.1) — 14KB
• uslm-20240630xex31d2.htm (EX-31.2) — 14KB
• uslm-20240630xex32d1.htm (EX-32.1) — 6KB
• uslm-20240630xex32d2.htm (EX-32.2) — 6KB
• uslm-20240630xex95d1.htm (EX-95.1) — 98KB
• 0001558370-24-010716.txt ( ) — 4380KB
• uslm-20240630.xsd (EX-101.SCH) — 27KB
• uslm-20240630_cal.xml (EX-101.CAL) — 46KB
• uslm-20240630_def.xml (EX-101.DEF) — 97KB
• uslm-20240630_lab.xml (EX-101.LAB) — 259KB
• uslm-20240630_pre.xml (EX-101.PRE) — 175KB
• uslm-20240630x10q_htm.xml (XML) — 686KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

: FINANCIAL STATEMENTS

ITEM 1: FINANCIAL STATEMENTS UNITED STATES LIME & MINERALS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (dollars in thousands) (Unaudited) June 30, December 31, 2024 2023 ASSETS Current assets Cash and cash equivalents $ 222,501 $ 187,964 Trade receivables, net 46,284 38,052 Inventories 27,300 24,313 Prepaid expenses and other current assets 3,466 4,640 Total current assets 299,551 254,969 Property, plant and equipment 477,341 469,598 Less accumulated depreciation and depletion ( 299,493 ) ( 289,803 ) Property, plant and equipment, net 177,848 179,795 Operating lease right-of-use assets 4,629 5,273 Other assets, net 2,127 565 Total assets $ 484,155 $ 440,602 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 7,186 $ 7,404 Current portion of operating lease liabilities 1,506 1,582 Accrued expenses 5,377 8,505 Total current liabilities 14,069 17,491 Deferred tax liabilities, net 24,258 24,659 Operating lease liabilities, excluding current portion 3,343 3,919 Other liabilities 1,396 1,429 Total liabilities 43,066 47,498 Stockholders' equity Common stock, $ 0.10 par value; 45,000,000 and 30,000,000 shares authorized at June 30, 2024 and December 31, 2023, respectively; 28,594,270 and 28,522,780 shares outstanding at June 30, 2024 and December 31, 2023, respectively 2,963 2,955 Additional paid-in capital 38,049 35,539 Retained earnings 458,138 412,499 Less treasury stock, at cost ( 58,061 ) ( 57,889 ) Total stockholders' equity 441,089 393,104 Total liabilities and stockholders' equity $ 484,155 $ 440,602 See accompanying notes to condensed consolidated financial statements. 2 UNITED STATES LIME & MINERALS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (dollars in thousands, except per share data) (Unaudited) Three Months Ended June 30, Six M

: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Forward-Looking Statements. Any statements contained in this Report that are not statements of historical fact are forward- looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward- looking statements in this Report, including without limitation statements relating to the Company's plans, strategies, objectives, expectations, intentions, and adequacy of resources, are identified by such words as "will," "could," "should," "would," "believe," "possible," "potential," "expect," "intend," "plan," "schedule," "estimate," "anticipate," and "project." The Company undertakes no obligation to publicly update or revise any forward-looking statements. The Company cautions that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations, including without limitation the following: (i) the Company's plans, strategies, objectives, expectations, and intentions are subject to change at any time at the Company's discretion; (ii) the Company's plans and results of operations will be affected by its ability to maintain and increase its revenues and manage its growth; (iii) the Company's ability to meet short-term and long-term liquidity demands, including meeting the Company's operating and capital needs, including possible acquisitions and paying dividends, and conditions in the credit and equity markets, including the ability of the Company's customers to meet their obligations; (iv) interruptions to operations and increased expenses at the Company's facilities resulting from changes in mining methods or conditions, variability of chemical or physical properties of the Company's limestone and its impact on process equipment and product quality, inclement weather conditions, including more severe and frequent weather events resulting from climate change, natural disasters, accidents,

View Full Filing

View this 10-Q filing on SEC EDGAR