United States Lime & Minerals, Inc. (NASDAQ: USLM) is a lime and limestone producer that mines, processes, and sells lime and limestone products across the south-central and midwestern United States. Revenue comes from transactional product sales of quicklime, hydrated lime, lime slurry, pulverized limestone (PLS), and crushed limestone to industrial, municipal, and construction customers. The company was incorporated in 1950 and maintains its principal corporate office in Dallas, Texas. In FY2025, sales were concentrated in Arkansas, Colorado, Iowa, Kansas, Louisiana, Missouri, Oklahoma, Tennessee, and Texas, with nine sales employees serving the customer base. End markets span metal processing, flue gas treatment, soil stabilization, highway and road construction, municipal water treatment, oilfield services, paper manufacturing, construction aggregates, and agricultural soil enhancement. The business is capital-intensive by nature, requiring ongoing investment in mining operations and processing facilities.

Revenue model

Transactional product sales of lime and limestone products, including quicklime, hydrated lime, lime slurry, pulverized limestone, and crushed limestone, sold directly to industrial, municipal, and construction customers.

Products and services

Quicklime, hydrated lime, lime slurry, pulverized limestone (PLS), and crushed limestone. Products serve applications including metal processing, flue gas treatment, soil stabilization, water and sanitation treatment, asphalt production, roof shingles, agricultural feeds, glass manufacturing, chemical production, and coal mine safety dust.

Customers and end markets

Industrial customers in metal processing and paper manufacturing; utilities and industrial emitters requiring flue gas scrubbing; highway, road, and building construction contractors; municipal water and sanitation facilities; oil and gas drillers; agricultural operators; and construction aggregates users. Sales concentrated in Arkansas, Colorado, Iowa, Kansas, Louisiana, Missouri, Oklahoma, Tennessee, and Texas (FY2025).

Value-chain role

Vertically integrated raw material producer and processor. Mines limestone, processes it into finished lime and limestone products, and sells directly to end-use customers via an in-house sales force.

Geographic exposure

South-central and midwestern United States. FY2025 sales made almost entirely in Arkansas, Colorado, Iowa, Kansas, Louisiana, Missouri, Oklahoma, Tennessee, and Texas.

Source: SEC 10-K, filed 2026-02-26

Industry: Mining & Quarrying of Nonmetallic Minerals (No Fuels) Peers: Eagle Materials Inc Martin Marietta Materials Inc Smith-Midland Corp Summit Materials, Inc. Vulcan Materials Co