United States Lime & Minerals, Inc. (USLM)
NASDAQMaterialsConstruction MaterialsSnapshot 2026-09-09
$115.62-1.34%
Close 2026-09-09 · 1-day change
NASDAQMaterialsConstruction MaterialsSnapshot 2026-09-09
Broken: Primary pillar broken — Address earnings misses and improve profitability: Q2 FY26 EPS $1.20 vs FY26 target $5.14.
United States Lime & Minerals serves steady construction demand. Analysts expect revenue growth of about 20% next year. The stock trades near 22 times earnings, close to peers. Cash from operations was $32 million in Q1 2026, showing some cash generation.
The company missed earnings in three of the last four quarters. Cash from operations fell from $45.6 million to $32 million in one quarter. Revenue growth estimates have been revised down recently. The sector faces headwinds, pressuring demand and margins.
The price sits about 7% above our fair value near $94. Analysts expect 20% revenue growth, which is priced in. Our model implies slower long-term growth around 2% to 3%.
Breaks if: quarterly cash flow falls below $25 million
Breaks if: EPS falls below $4.50 in FY26
Breaks if: YoY revenue growth falls below 15% in FY27
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a durable compounder with a focus on construction and materials. The current thesis is stable, though recent earnings performance has been mixed, leading to cautious sentiment.
The market appears to have priced in a low expectations gap, suggesting that current valuations reflect a justified premium compared to peers. The valuation shows a durable premium of 1.4 times versus its industry counterparts.
Management has prioritized construction customer demand, which has shown positive revenue growth. However, the new kiln at the Texas facility is still pending and cash flow from operations has mixed signals, indicating some uncertainty in execution.
The long-term thesis hinges on management's ability to maintain customer demand and successfully bring the new kiln online. Additionally, broader economic factors like inflation rates and the performance of sector leaders will play a crucial role in shaping future outcomes.
The most important moves since the prior daily snapshot.
Our read on the company is unchanged since the prior snapshot.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Maintain and grow demand from construction customers, including data center projects, as a key revenue driver.
Stated as a priority in 3 of last 3 quarters. Revenues grew from $91.5 million in 2025-Q2 to $99.1 million in 2026-Q2, driven by increased demand from construction and steel customers. Management's statements and revenue growth show delivering on this priority.
“Demand was up, compared to 2025, led by our construction and steel customers”
“We remain optimistic about the balance of the year, including as it pertains to demand from our construction customers”
“Looking ahead, we anticipate a more mixed demand picture, with ongoing data center construction demand”
Overall, USLM's fundamentals are holding steady, but the recent earnings misses raise caution. Not investment advice.