US Lime & Minerals Q1 Revenue Misses by 14% on Weak Construction Demand
summarizeSummary
United States Lime & Minerals reported Q1 revenue of $87.83 million, a 3.7% year-over-year decline and a significant miss against the single analyst consensus estimate of $102 million. Net income also fell 10.4% year-over-year to $30.58 million. The weaker performance was primarily attributed to decreased demand from construction, oil and gas services, and roof shingle customers, compounded by higher fuel and transportation costs. While the company maintained its quarterly dividend and expects construction demand to improve later in the year with a new Texas kiln project, the substantial revenue miss and profit decline for the quarter are material negative developments that could impact investor sentiment.
At the time of this announcement, USLM was trading at $128.24 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $91.04 to $141.44. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.