third quarter 2026
Filed Oct 30, 2026United States Lime & Minerals reports third quarter 2026 results and declares regular quarterly cash dividend
Third-quarter revenue increased 4.1%, supported by modestly higher prices and volumes, but gross profit decreased 2.7% and net income decreased 1.9% as higher transportation and fuel costs and Texas kiln integration inefficiencies pressured results.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenues - third quarter 2026GAAP | $106.2M | – | increase of $4.2 million, or 4.1% |
| Revenues - first nine months 2026GAAP | $293.1M | – | increase of $8.4 million, or 2.9% |
| Cost of revenues - third quarter 2026GAAP | $55.42M | – | – |
| Cost of revenues - first nine months 2026GAAP | $153.9M | – | – |
| Gross profit - third quarter 2026GAAP | $50.8M | – | decrease of $1.4 million, or 2.7% |
| Gross profit - first nine months 2026GAAP | $139.2M | – | decrease of $1.0 million, or 0.7% |
| Selling, general and administrative expenses - third quarter 2026GAAP | $6.1M | – | increase of $0.1 million, or 2.3% |
| Selling, general and administrative expenses - first nine months 2026GAAP | $18.1M | – | decrease of $0.3 million, or 1.5% |
| Operating profit - third quarter 2026GAAP | $44.70M | – | – |
| Operating profit - first nine months 2026GAAP | $121.1M | – | – |
| Other (income) expense, net - third quarter 2026GAAP | −$3.8M | – | increase of $0.4 million |
| Other (income) expense, net - first nine months 2026GAAP | −$10.40M | – | increase of $0.8 million |
| Income tax expense - third quarter 2026GAAP | $10.46M | – | – |
| Income tax expense - first nine months 2026GAAP | $28.41M | – | – |
| Net income - third quarter 2026GAAP | $38M | – | decrease of $0.7 million, or 1.9% |
| Net income - first nine months 2026GAAP | $103.1M | – | decrease of $0.6 million, or 0.6% |
| Basic income per share of common stock - third quarter 2026GAAP | $1.33 | – | – |
| Diluted income per share of common stock - third quarter 2026GAAP | $1.32 | – | – |
| Basic income per share of common stock - first nine months 2026GAAP | $3.60 | – | – |
| Diluted income per share of common stock - first nine months 2026GAAP | $3.58 | – | – |
| Weighted-average basic shares outstanding - third quarter 2026GAAP | 28.69M | – | – |
| Weighted-average diluted shares outstanding - third quarter 2026GAAP | 28.78M | – | – |
| Weighted-average basic shares outstanding - first nine months 2026GAAP | 28.68M | – | – |
| Weighted-average diluted shares outstanding - first nine months 2026GAAP | 28.77M | – | – |
| Cash dividends per share of common stock - third quarter 2026GAAP | $0.06 | – | – |
| Cash dividends per share of common stock - first nine months 2026GAAP | $0.18 | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- The Board of Directors declared a regular quarterly cash dividend of $0.06 per share on the Company’s common stock.
- The dividend is payable on December 11, 2026 to stockholders of record at the close of business on November 20, 2026.
What drove it
- Third-quarter revenue growth resulted primarily from modest increases in both average sales prices and sales volumes.
- Increased third-quarter sales volumes were principally due to increased demand from steel customers, partially offset by reduced demand from construction customers.
- First-nine-month revenue growth resulted primarily from modest increases in both average sales prices and sales volumes.
- Increased first-nine-month sales volumes were principally due to increased demand from steel customers, partially offset by reduced demand from roof shingle customers.
- Higher other income was primarily due to interest earned on higher average balances of cash and cash equivalents.
Concerns
- Third-quarter and first-nine-month gross profit decreased primarily because of higher transportation and fuel costs driven principally by higher diesel costs.
- Production inefficiencies during integration of the new Texas kiln into existing plant operations affected costs.
- Certain large construction projects recently experienced delays for various reasons, including securing permits.
- The Company is monitoring indications that Texas’ residential construction is beginning to slow down.
- Reduced demand from construction customers partially offset increased third-quarter sales volumes.
- Reduced demand from roof shingle customers partially offset increased first-nine-month sales volumes.
What to watch
- Final commissioning of the new kiln at the Texas facility is expected in the fourth quarter.
- The new Texas kiln began intermittently producing quicklime in the third quarter.
- Construction demand, including large-project delays and indications of slowing Texas residential construction.
- Transportation and fuel costs, driven principally by diesel costs.
- Demand from steel, construction, and roof shingle customers.
Balance sheet and cash flow
- Current assets were $543,338 (In thousands) as of September 30, 2026, compared to $455,316 (In thousands) as of December 31, 2025.
- Property, plant and equipment, net was $250,574 (In thousands) as of September 30, 2026, compared to $221,421 (In thousands) as of December 31, 2025.
- Other non-current assets were $4,517 (In thousands) as of September 30, 2026, compared to $4,307 (In thousands) as of December 31, 2025.
- Total assets were $798,429 (In thousands) as of September 30, 2026, compared to $681,044 (In thousands) as of December 31, 2025.
- Current liabilities were $24,376 (In thousands) as of September 30, 2026, compared to $23,632 (In thousands) as of December 31, 2025.
- Deferred tax liabilities, net were $36,494 (In thousands) as of September 30, 2026, compared to $22,999 (In thousands) as of December 31, 2025.
- Other long-term liabilities were $3,726 (In thousands) as of September 30, 2026, compared to $3,653 (In thousands) as of December 31, 2025.
- Stockholders’ equity was $733,833 (In thousands) as of September 30, 2026, compared to $630,760 (In thousands) as of December 31, 2025.
- Total liabilities and stockholders’ equity were $798,429 (In thousands) as of September 30, 2026, compared to $681,044 (In thousands) as of December 31, 2025.
Analysis
Third-quarter revenues were $106.2 million, compared to $102.0 million in the third quarter 2025, an increase of $4.2 million, or 4.1%. The Company attributed the improvement primarily to modest increases in average sales prices and sales volumes. Higher steel-customer demand drove volume growth, while reduced construction-customer demand partially offset that benefit. For the first nine months 2026, revenues were $293.1 million, compared to $284.8 million in the first nine months 2025, an increase of $8.4 million, or 2.9%.
Profitability did not follow revenue higher. Third-quarter gross profit was $50.8 million, compared to $52.2 million, a decrease of $1.4 million, or 2.7%, while operating profit was $44,702 (In thousands), compared to $46,262 (In thousands). The Company identified higher transportation and fuel costs, driven principally by higher diesel costs, and production inefficiencies during Texas kiln integration as the primary gross-profit headwinds. Net income was $38.0 million, or $1.32 per share diluted, compared to $38.8 million, or $1.35 per share diluted.
The nine-month pattern was similar. Gross profit was $139.2 million, compared to $140.2 million, a decrease of $1.0 million, or 0.7%, and net income was $103.1 million, compared to $103.7 million. Other income increased to $10.4 million in the first nine months 2026 from $9.6 million in the comparable 2025 period, primarily due to interest earned on higher average balances of cash and cash equivalents. That benefit did not offset the reported gross-profit pressure.
The balance sheet showed total assets of $798,429 (In thousands) at September 30, 2026, compared to $681,044 (In thousands) at December 31, 2025, including property, plant and equipment, net of $250,574 (In thousands), compared to $221,421 (In thousands). Stockholders’ equity was $733,833 (In thousands), compared to $630,760 (In thousands). The Board declared a regular quarterly cash dividend of $0.06 per share, payable on December 11, 2026 to stockholders of record at the close of business on November 20, 2026.
Management expects final commissioning of the Texas kiln in the fourth quarter after intermittent quicklime production began in the third quarter. The key reported operating issues are the kiln’s production inefficiencies, diesel-driven cost pressure, delays in certain large construction projects, and indications that Texas residential construction is beginning to slow down. No quantitative forward guidance was provided.
Management, verbatim
We saw modest increases in both volumes and sales prices for our lime and limestone products in the third quarter 2026, while our expenses reflected the impact of the sharp rise in diesel prices.
Timothy W. Byrne, President and Chief Executive Officer
Although we remain optimistic regarding overall construction demand in the future, certain large construction projects have recently experienced delays for various reasons, including securing permits, and we are monitoring indications that Texas’ residential construction is beginning to slow down.
Timothy W. Byrne, President and Chief Executive Officer
The new kiln at our Texas facility began intermittently producing quicklime in the third quarter, and we expect to have final commissioning completed in the fourth quarter. To that end, our costs in Texas have been impacted by production inefficiencies as we continue to integrate the new kiln into our existing plant operations.
Timothy W. Byrne, President and Chief Executive Officer
Not in the filing
stated, not guessed- Forward quantitative guidance for revenue, gross margin, operating expenses, tax rate, capital expenditures, volumes, pricing, or earnings.
- Prior-period outlook for comparison.
- Segment revenue and segment profitability disclosures.
- Cash and cash equivalents balance.
- Debt balance.
- Operating cash flow.
- Free cash flow.
- Share repurchases.
- Prior-quarter comparative figures and sequential changes for reported income-statement metrics.
- Gross margin and tax-rate figures.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.