United States Lime & Minerals reported first‑quarter 2026 revenue of $87.8 million, a 3.7% decline from $91.3 million in the same period a year earlier. Net income fell to $30.6 million, or $1.06 per share, down 10.4% from $34.1 million ($1.19 per share) in Q1 2025.
Analysts had expected earnings of $1.15 to $1.20 per share and revenue of about $98 million. The company’s EPS of $1.06 missed consensus by $0.09 to $0.14, while revenue fell short by $10.17 million to $14.17 million, underscoring a miss on both key metrics.
Revenue decline was driven by lower volumes in construction, oil and gas services, and roof shingle customers, while higher demand from steel customers partially offset the drop. The mix shift and weaker demand in legacy segments contributed to the revenue shortfall.
Operating margins contracted as fuel and transportation costs rose, and SG&A expenses decreased 4.7% year‑over‑year, reflecting tighter cost control. Net margin stood at 36.03% and return on equity at 23.07%, indicating solid profitability despite the revenue dip.
"Although we experienced our first revenue decrease against the comparable prior‑year quarter since the COVID pandemic began in 2020, we remain optimistic about the balance of the year, including as it pertains to demand from our construction customers," said President and CEO Timothy W. Byrne. He added, "We are also pleased with the progress on the new kiln project at our Texas facility and anticipate it will start up this summer." The company declared a regular quarterly cash dividend of $0.06 per share.
Investors reacted negatively to the earnings miss, with the EPS and revenue shortfalls driving a downturn in market sentiment. The company did not provide forward guidance for the next quarter, leaving analysts to weigh the current performance against the broader industry outlook.
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