United States Lime & Minerals (USLM) Q2 2026 earnings summary

Executive summary

• Revenues for Q2 2026 rose 8.3% year-over-year to $99.1 million, driven by higher sales volumes and modest price increases, especially from construction and steel customers, partially offset by lower demand from roof shingle customers.

• Gross profit for Q2 2026 was $46.7 million, up 11.6% year-over-year, with higher fuel and transportation costs partially offsetting revenue gains.

• Net income for Q2 2026 was $34.5 million ($1.20 per diluted share), up 11.9% year-over-year; for the first six months, net income was $65.1 million ($2.26 per diluted share), up 0.2%.

• SG&A expenses decreased 2.0% year-over-year in Q2 2026, primarily due to lower stock-based compensation.

• Construction on a new vertical kiln at the Texas Lime Company plant is nearing completion, with $57.7 million incurred to date and expected total costs of $65 million.

Financial highlights

• Q2 2026 revenues: $99.1 million (Q2 2025: $91.5 million); six months: $187.0 million (2025: $182.8 million).

• Q2 2026 gross profit: $46.7 million (Q2 2025: $41.9 million); six months: $88.5 million (2025: $88.0 million).

• Q2 2026 net income: $34.5 million (Q2 2025: $30.8 million); six months: $65.1 million (2025: $64.9 million).

• Diluted EPS: $1.20 for Q2 2026 (Q2 2025: $1.07); $2.26 for six months (2025: $2.26).

• Cash and cash equivalents at June 30, 2026: $402.6 million (Dec 31, 2025: $371.1 million).

Outlook and guidance

• Strong construction demand expected to continue, supported by data center projects.

• New kiln at Texas facility anticipated to come online in summer 2026.

• Management anticipates sufficient cash flow and liquidity to meet operating, capital, and dividend needs absent a significant acquisition.