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United States Lime & Minerals (USLM)

United States Lime & Minerals, Inc., a NASDAQ-listed public company with headquarters in Dallas, Texas, is a manufacturer of lime and limestone products, supplying primarily the construction (including highway, road and building contractors), industrial (including paper and glass manufacturers), environmental (including municipal sanitation and water treatment facilities and flue gas treatment processes), metals (including steel producers), oil and gas services, roof shingle manufacturers and agriculture (including poultry and cattle feed producers) industries. The Company operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Oklahoma and Texas through its wholly owned subsidiaries, Arkansas Lime Company, Colorado Lime Company, Texas Lime Company, U.S. Lime Company, U.S. Lime Company - Shreveport, U.S. Lime Company - St. Clair and U.S. Lime Company - Transportation. In addition, the Company, through its wholly owned subsidiary, U.S. Lime Company - O & G, LLC, has royalty and non-operating working interests pursuant to an oil and gas lease and a drillsite agreement on its Johnson County, Texas property, located in the Barnett Shale Formation.

Company profile

Ticker
USLM
Exchange
Website
CEO
Timothy Byrne
Employees
Incorporated
Location
Fiscal year end
Former names
SCOTTISH HERITABLE INC
SEC CIK
Subsidiaries
Arkansas Lime Company • ACT Holdings, Inc. • ART Quarry TRS LLC • Colorado Lime Company • Mill Creek Dolomite, LLC • Texas Lime Company • U.S. Lime Company • U.S. Lime Company—Shreveport, a Louisiana Corporation • U.S. Lime Company—St. Clair, a Delaware Corporation • U.S. Lime Company—Transportation, a Texas Corporation ...
IRS number
750789226

USLM stock data

Calendar

27 Jul 22
19 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Aug 22 Timothy W Byrne USLM Common Stock Sell Dispose S No No 103.65 1,161 120.34K 32,494
16 Aug 22 Timothy W Byrne USLM Common Stock Sell Dispose S No No 106 300 31.8K 33,655
16 Aug 22 Timothy W Byrne USLM Common Stock Sell Dispose S No No 107.82 131 14.12K 33,955
15 Aug 22 Timothy W Byrne USLM Common Stock Sell Dispose S No No 108.66 1,557 169.18K 34,086
15 Aug 22 Timothy W Byrne USLM Common Stock Sell Dispose S No No 109.58 1,477 161.85K 35,643
12 Aug 22 Sandra C Duhe USLM Common Stock Grant Acquire A No No 105.2 600 63.12K 600
29 Apr 22 Cardin Richard W United States Lime & Minerals Common Stock Grant Acquire A No No 109.51 800 87.61K 3,866
29 Apr 22 Doumet Antoine M Stock Option USLM Common Stock Grant Acquire A No No 109.51 2,400 262.82K 2,400
40.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 61 67 -9.0%
Opened positions 3 6 -50.0%
Closed positions 9 4 +125.0%
Increased positions 14 16 -12.5%
Reduced positions 22 23 -4.3%
13F shares Current Prev Q Change
Total value 205.58M 167.55M +22.7%
Total shares 1.46M 1.44M +1.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Thrivent Financial For Lutherans 320.98K $33.9M +1.9%
Dimensional Fund Advisors 237K $25.03M -0.0%
Renaissance Technologies 192.22K $20.3M -1.1%
BLK Blackrock 162.29K $17.14M -0.5%
Royce & Associates 152.7K $16.13M +10.0%
Vanguard 90.88K $9.6M +2.4%
STT State Street 40.08K $4.23M -3.6%
Geode Capital Management 40.06K $4.23M -0.1%
Minerva Advisors 39.46K $4.16M 0.0%
North Star Investment Management 23.68K $2.5M 0.0%
Largest transactions Shares Bought/sold Change
Royce & Associates 152.7K +13.93K +10.0%
Thrivent Financial For Lutherans 320.98K +5.98K +1.9%
Procyon Private Wealth Partners 3.85K +3.85K NEW
LGEN Legal & General 0 -2.94K EXIT
MS Morgan Stanley 3.3K +2.79K +545.3%
Millennium Management 0 -2.75K EXIT
WHG Westwood 2.65K +2.65K NEW
Gyon Technologies Capital Management 2.63K +2.63K NEW
Renaissance Technologies 192.22K -2.1K -1.1%
Vanguard 90.88K +2.09K +2.4%

Financial report summary

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Risks
  • Our success depends in part on the successful commercialization of our drug products. To the extent our drug products are not commercially successful, our business, financial condition and results of operations will be materially harmed.
  • Our drug products may fail to achieve the degree of market acceptance by physicians, patients, third-party payers or others in the medical community necessary for commercial success, which would negatively impact our business.
  • If we and our collaboration or commercialization partners are unable to effectively market and sell our drug products, the commercialization of our drug products will not be successful and our business will be harmed.
  • Failure to successfully obtain coverage and reimbursement for ORGOVYX and MYFEMBREE in the United States, or the availability of coverage only at limited levels, would diminish our ability to generate net product revenue.
  • We face substantial competition in the commercialization of our approved drug products and our operating results will suffer if we fail to compete effectively.
  • If manufacturers obtain approval for generic versions of ORGOVYX, MYFEMBREE, or of products with which they compete, our business may suffer.
  • If patient safety issues were to arise for any of our drug products, our future sales of our drug products may be reduced, adversely affecting our results of operations.
  • If we or our collaboration or commercialization partners are found to have improperly promoted unapproved uses of our drug products, we may be subject to restrictions on the sale or marketing of our drug products and significant fines, penalties, sanctions and product liability claims, and our image and reputation within the industry and marketplace could be harmed.
  • If we fail to comply with our reporting and payment obligations under the Medicaid Drug Rebate Program or other governmental pricing programs in the U.S., we could be subject to additional reimbursement requirements, fines, sanctions and exposure under other laws which could have a material adverse effect on our business, results of operations and financial condition.
  • Our drug products are complex to manufacture, and manufacturing disruptions may occur that could cause us to experience disruptions in the supply of our drug products.
  • Risks Related to Commercialization of our Drug Products Outside the U.S. and for our Product Candidates
  • Our success relies on the successful commercialization of drug products outside the U.S. and the development or commercialization of our product candidates. If we are successful in obtaining regulatory approval for drug products in jurisdictions outside the U.S. or for our product candidates, we will be subject to the same or similar commercialization risks as described above for our approved drug products.
  • If we do not have adequate funds to cover our development and commercialization activities, we may have to raise additional capital or curtail or cease operations. We may not be able to obtain funding through public or private offerings of our capital shares, debt financings, collaboration or licensing arrangements, or other sources.
  • We may never achieve or maintain profitability.
  • The terms of the Sumitomo Pharma Loan Agreement place restrictions on our operating and financial flexibility.
  • We may not be successful in our efforts to identify and acquire or in-license additional product candidates, which may limit our growth potential.
  • We do not have our own manufacturing capabilities and rely on third parties to produce clinical and commercial supplies of drug substance and drug product. If these third parties do not perform as we expect, do not maintain their regulatory approvals, or become subject to other negative circumstances, it may result in a delay in our ability to develop and commercialize our products.
  • Our or our affiliates’ employees, independent contractors, advisers, third-party manufacturers, principal investigators, consultants, commercialization partners, collaboration partners, service providers, and other vendors, may engage in misconduct or other improper activities, including noncompliance with regulatory or legal standards and requirements, which could have an adverse effect on our results of operations.
  • Business interruptions resulting from effects of pandemics or epidemics, such as the COVID-19 pandemic, may materially and adversely affect our business and financial condition.
  • The withdrawal of the U.K. from the EU, commonly referred to as “Brexit,” may adversely impact our ability to obtain regulatory approvals of our product candidates in the EU, result in restrictions or imposition of taxes and duties for importing our product candidates into the EU, and may require us to incur additional expenses in order to develop, manufacture and commercialize our product candidates in the EU.
  • Our internal computer systems, and those of our third-party collaborators, consultants or contractors, may fail or suffer cybersecurity breaches and data leakage, which could result in a material disruption of our business and operations or liabilities that adversely affect our financial performance.
  • If we fail to comply with applicable U.S. and foreign privacy and data protection laws and regulations, we may be subject to liabilities that adversely affect our business, operations and financial performance.
  • The failure to successfully expand and maintain our enterprise resource planning (“ERP”) system and other information technology systems could adversely affect our business and results of operations or the effectiveness of internal control over financial reporting.
  • The phase-out of the London Interbank Offered Rate (“LIBOR”), or the replacement of LIBOR with an alternative reference rate, may adversely affect interest rates on our outstanding variable rate indebtedness with Sumitomo Pharma.
  • The conflict between the Russian Federation and Ukraine and other government policies and actions could negatively affect our clinical trial sites in Ukraine. We and/or our collaboration and commercialization partners may not be able to launch our commercial products in the Russian Federation, Ukraine or other regions which may negatively affect our financial results. The uncertain nature, magnitude, and duration of hostilities stemming from such conflict may result in changes in the world’s macroeconomic conditions which negatively affect our business operations.
  • Risks Related to Clinical Development and Regulatory Approval
  • Clinical studies are very expensive, time consuming, difficult to design and implement, and involve uncertain outcomes. Clinical study failures can occur at any stage of clinical studies, and we could encounter problems that cause us to suspend, abandon or repeat clinical studies. We cannot predict with any certainty the timing for commencement or completion of current or future clinical studies.
  • We are dependent on the research and development of relugolix and MVT-602 previously conducted by Takeda. If Takeda did not conduct this research and development in compliance with applicable requirements, it could result in increased costs and delays in our development of these product candidates.
  • Recruitment, enrollment and retention of patients in clinical studies is an expensive and time-consuming process and could be made more difficult or rendered impossible by multiple factors outside our control.
  • The results of our clinical studies may not support our proposed claims for our product candidates. The results of previous clinical studies may not be predictive of future results, and interim or top-line data may be subject to change or qualification based on the complete analysis of data.
  • The regulatory approval processes of the FDA and comparable foreign authorities are lengthy, time consuming, and inherently unpredictable. If we are not able to obtain required regulatory approvals for our product candidates, our ability to generate net product revenue will be materially impaired.
  • Even if we obtain approval for a product candidate in one country or jurisdiction, we may never obtain approval for or commercialize it in any other jurisdiction which would limit our ability to realize our product candidates’ full market potential.
  • Even though we have obtained regulatory approval for ORGOVYX and MYFEMBREE in the U.S., and RYEQO and ORGOVYX in Europe, or even if we obtain regulatory approval for any of our product candidates, we face or will still face extensive regulatory requirements and our products may face future development risks and regulatory difficulties.
  • Our current and future relationships with investigators, healthcare professionals, consultants, third-party payers, and customers will be subject to applicable healthcare regulatory laws, which could expose us to penalties.
  • Regulatory requirements or manufacturing disruptions may make it difficult for us to be able to obtain materials or supplies necessary to conduct clinical studies or to manufacture and sell any of our product candidates, if approved.
  • We are reliant on third parties to conduct, manage, and monitor our clinical studies, and if those third parties perform in an unsatisfactory manner, it may harm our business.
  • Risks Related to Our Intellectual Property
  • If we are unable to obtain and maintain patent protection for our technology and products, or if the scope of the patent protection obtained is not sufficiently broad, we may not be able to compete effectively in our markets.
  • If we fail to comply with our obligations under any license, collaboration or other agreements, we may be required to pay damages and could lose intellectual property rights that are necessary for developing and protecting our product candidates.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment, and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for noncompliance with these requirements.
  • Third-party claims or litigation alleging infringement of patents or other proprietary rights, or seeking to invalidate our patents or other proprietary rights, may delay or prevent the development of our product candidates and commercialization of our drug products and any future product candidate.
  • We may become involved in lawsuits to protect or enforce our patents, the patents of our licensors or our other intellectual property rights, which could be expensive, time consuming, and unsuccessful.
  • Changes in U.S. patent law or the patent law of other countries or jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • We may not be able to protect our intellectual property rights throughout the world, which could impair our business.
  • Our reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor will discover them or that our trade secrets will be misappropriated or disclosed.
  • Risks Related to Our Being a Controlled Company
  • We have agreements with Sumitovant, our majority shareholder, and with Sumitovant’s parent, Sumitomo Pharma, and their affiliates, including Sunovion, that may be perceived to create conflicts of interest which, if other investors perceive that Sumitovant or Sumitomo Pharma will not act in the best interests of all of our shareholders, may affect the price of our common shares and have other effects on our company.
  • We are a “controlled company” within the meaning of the applicable rules of the New York Stock Exchange (“NYSE”) and, as a result, qualify for exemptions from certain corporate governance requirements. If we rely on these exemptions, our shareholders will not have the same protections afforded to shareholders of companies that are subject to such requirements.
  • Risks Related to Us and Our Shareholders Related to Our Being a Foreign Corporation
  • We are an exempted company limited by shares incorporated under the laws of Bermuda and it may be difficult for our shareholders to enforce judgments against us or our directors and executive officers.
  • Bermuda law differs from the laws in effect in the U.S. and may afford less protection to our shareholders.
  • There are regulatory limitations on the ownership and transfer of our common shares.
  • Legislation enacted in Bermuda as to economic substance may affect our operations.
  • We may become subject to unanticipated tax liabilities and higher effective tax rates.
  • The intended tax effects of our corporate structure and intercompany arrangements depend on the application of the tax laws of various jurisdictions and on how we operate our business.
  • Changes in our effective tax rate may reduce our net income in future periods.
  • U.S. holders that own 10% or more of the vote or value of our common shares may suffer adverse tax consequences because we and our non-U.S. subsidiaries are expected to be characterized as “controlled foreign corporations” (“CFCs”), under Section 957(a) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”).
  • U.S. holders of our common shares may suffer adverse tax consequences if we are characterized as a passive foreign investment company.
  • Raising additional funds may cause dilution to existing shareholders and/or may restrict our operations.
  • Our future success depends on our ability to attract and retain key personnel.
  • We plan to expand our organization, and we may experience difficulties in managing this growth, which could disrupt our operations.
  • Our business is affected by macroeconomic conditions, including rising inflation, interest rates and supply chain constraints.
  • Potential product liability lawsuits against us could cause us to incur substantial liabilities and could impact ongoing and planned clinical studies as well as limit commercialization of any products that we may develop.
  • Use of social media platforms presents risks of inappropriate or harmful disclosures which could harm our business.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of their former employers or other third parties.
  • Our operating results may fluctuate significantly and our future operating results could fall below expectations. The market price of our common shares has been and is likely to continue to be highly volatile, and you may lose some or all of your investment.
  • If we are unable to maintain proper and effective internal control over financial reporting and disclosure controls and procedures, investor confidence in our company and, as a result, the value of our common shares, may be adversely affected.
  • Because we do not anticipate paying any cash dividends on our common shares in the foreseeable future, capital appreciation, if any, would be your sole source of gain.
Management Discussion
  • We began generating product revenue from sales of ORGOVYX and MYFEMBREE in the U.S. in January 2021 and June 2021, respectively. We record product revenue net of estimated discounts, chargebacks, rebates, product returns, and other gross-to-net revenue deductions.
  • For the three months ended June 30, 2022, product revenue, net also includes revenues related to product supply to Richter to support their European launches of RYEQO of $1.1 million, as well as royalties on net sales of RYEQO in Richter’s Territory of $0.2 million. There were no such revenues recorded in the three months ended June 30, 2021.
  • For the three months ended June 30, 2022, compared to the year ago period, product revenue, net increased by $29.8 million primarily as a result of higher sales of ORGOVYX and MYFEMBREE in the U.S.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
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Readability
H.S. senior Avg
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