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DALLAS, April 30, 2024 — United States Lime & Minerals, Inc. today reported first quarter 2024 results: The Company’s revenues in the first quarter 2024 were $71.7 million, compared to $66.8 million in the first quarter 2023, an increase of $4.9 million, or 7.4%. Lime and limestone revenues were $71.5 million in the first quarter 2024, compared to $66.5 million in the first quarter 2023, an increase of $4.9 million, or 7.4%.
Selling, general and administrative expenses were $4.8 million in the first quarter 2024, compared to $4.2 million in the first quarter 2023, an increase of $0.7 million, or 16.8%. The increase in SG&A expenses in the first quarter 2024, compared to the first quarter 2023, was primarily due to increased personnel expenses, including stock-based compensation.
The Company reported net income of $22.4 million in the first quarter 2024, compared to $17.1 million in the first quarter 2023, reflecting an increase of $5.3 million, or 31.2%.
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