Basic Materials
United States Lime & Minerals, Inc. (USLM)
Data as of July 17, 2026
Environment story
USLM operates as a lime and limestone producer with significant operational carbon footprint tied to kiln combustion. The company discloses no Scope 1, 2, or 3 emissions data in its 10-K filing. No net-zero target, interim climate commitments, or renewable energy transition plan is documented. Recent capital investment in a new vertical kiln at Texas Lime facility is framed as 'fuel-efficient' relative to prior equipment, but without absolute emissions reductions or decarbonization roadmap verification. The company acknowledges climate-related operational risks (weather disruptions, regulatory exposure) but provides no emissions inventory, GHG reduction pathway, or third-party sustainability reporting. Greenwashing checklist: company claims 'fuel-efficient plant facilities' and 'lower production costs' from kiln upgrades but supplies zero emissions baseline or reduction targets; no carbon offsets disclosed but also no direct operational decarbonization evidence. Scope 3 (product-use lifecycle) is entirely undisclosed despite lime being a key input to steel and construction industries with substantial embedded carbon. Absence of emissions transparency and net-zero commitment triggers maximum penalties.
Criticisms on file
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Zero emissions disclosure (Scope 1, 2, 3) and no net-zero target despite extraction and calcination-intensive lime production process.Source: USLM 10-K 2025, MD&A, Risk Factors, Critical Accounting Policies; no sustainability report filed or linked.
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Forward-looking statement acknowledges 'rapidly changing Environmental Laws and health and safety and other regulations' but provides no compliance strategy or capex allocation for environmental risk.Source: USLM 10-K 2025, Risk Factors section, Item 1A.
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Climate-related operational risks disclosed (inclement weather, severe and frequent weather events resulting from climate change, natural disasters) but no transition plan or resilience strategy provided.Source: USLM 10-K 2025, MD&A forward-looking statements and Risk Factors.
Disclosed initiatives
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Texas Lime Vertical Kiln ProjectNew vertical kiln and related infrastructure at Texas Lime plant, expected startup summer 2026, total project cost ~$65M. Company describes as 'fuel-efficient' upgrade relative to prior rotary kiln fleet. All kilns described as 'preheater kilns' for efficiency.Claimed fuel efficiency improvement; no absolute emissions reduction target or baseline disclosed.
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Fuel Mix OptimizationCompany states it 'has been able to mitigate to some degree the impact of volatile energy costs by varying the mixes of fuel used in our kilns' (coal, petroleum coke, diesel, natural gas, electricity).Cost management tactic; no decarbonization pathway or renewable fuel transition disclosed.
Social story
USLM reports 346 employees as of December 31, 2025 (stable vs. 345 in 2024, 333 in 2023). No workforce diversity metrics, pay equity analysis, CEO-to-median-worker ratio, or turnover rate disclosed in 10-K filing. No mention of union representation, collective bargaining agreements, or labor relations status. No formal DEI program, supplier diversity initiative, or civil-rights audit disclosed. Labor costs are aggregated under 'Labor and other operating expenses' without breakdown. No safety metrics, OSHA recordable incident rates, or plant safety controversies disclosed. Company mentions 'increased personnel expenses' in 2024-2025 SG&A growth (28.8% YoY) but provides no detail on wage growth, equity grants distribution, or human-capital development. No supply-chain ethics audit, conflict minerals policy, or modern slavery statement disclosed. Absence of transparent DEI data and lack of documented union relations or labor disputes do not constitute positive governance; rather, they indicate minimal public accountability on social factors.
Criticisms on file
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No disclosure of CEO compensation, pay ratios, or executive equity holdings; cannot verify 200:1 pay-ratio threshold.Source: USLM 10-K 2025; proxy statement or DEF 14A not provided in source materials.
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Zero diversity metrics for workforce or leadership; no EEO-1 disclosure, gender pay gap analysis, or supplier diversity program mentioned.Source: USLM 10-K 2025, entire filing; no sustainability or DEI report referenced.
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No labor relations disclosures; absence of union agreements, NLRB complaints, or strikes does not imply positive labor standing without affirmative evidence.Source: USLM 10-K 2025, no labor section or union disclosures.
Disclosed initiatives
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Stock-Based CompensationCompany reports $8.1M stock-based compensation in 2025 (vs. $4.9M in 2024), included in cash flow from operations. Restricted stock program with tax-withholding repurchases ($2.7M in 2025).Equity participation for certain employees; scope and distribution across workforce not disclosed.
Governance story
USLM maintains a single business segment (lime and limestone operations, all U.S.-based) with no disclosed dual-class share structure in the 10-K filing. Board independence percentage is not disclosed in source materials provided. Company operates under a standard $75M revolving credit facility (Wells Fargo, amended Aug 3, 2023, maturity Aug 3, 2028) with no debt outstanding as of Dec 31, 2025; maximum Cash Flow Leverage Ratio covenant is 3.50:1. No lobbying expenditure, PAC contributions, or political-engagement disclosure appears in the 10-K. No antitrust investigations, consumer-safety proceedings, privacy fines, or SEC consent decrees are reported. Risk Factor disclosures mention 'ongoing and possible new regulations, investigations, enforcement actions and costs, legal expenses, penalties, fines, assessments, litigation, judgments and settlements' but provide no specifics. Critical Accounting Policies note 'Contingencies' requiring estimation of 'likelihood of any adverse judgments or outcomes' and 'potential ranges of possible losses,' but no material contingent liabilities are quantified. No shareholder activism, proxy contests, or governance disputes disclosed. Company reports standard Sarbanes-Oxley and SEC compliance framework without material deviation.
Criticisms on file
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Board independence percentage not disclosed in source 10-K filing; cannot verify >75% independence threshold.Source: USLM 10-K 2025; proxy statement or corporate governance section not provided.
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No lobbying expenditure or PAC contribution disclosure in 10-K; political-engagement stance and regulatory relations opaque.Source: USLM 10-K 2025; no lobbying or political contribution section; Senate LDA filings not included.
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Risk Factor language acknowledges 'ongoing and possible new regulations, investigations, enforcement actions' without quantifying material legal contingencies.Source: USLM 10-K 2025, Item 1A Risk Factors and Critical Accounting Policies section.
Disclosed initiatives
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Credit Facility Compliance$75M revolving credit facility with Wells Fargo (maturity Aug 3, 2028); accordion feature for up to additional $50M. Pricing grid tied to Cash Flow Leverage Ratio (max 3.50:1). No debt outstanding; $4.7M letters of credit outstanding (mostly related to Texas kiln project).Maintains strong liquidity and covenant flexibility with zero leverage; dividend and share-repurchase caps require pro forma leverage <3.00:1.
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Contractual TransparencyDetailed disclosure of contractual obligations ($49.1M total): operating leases ($4.4M), mineral leases ($2.3M), purchase obligations ($41.0M including $15.9M Texas kiln project), other liabilities ($1.4M).Clear public disclosure of future payment obligations and capital commitments.
These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of United States Lime & Minerals, Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open United States Lime & Minerals, Inc. in the app for interactive charts and portfolio building.
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