MINERALS TECHNOLOGIES INC reported results for the quarter with revenue of $548.4M, a year-over-year increase of 3.7%, while the company posted a net loss of ($182.6M) and diluted EPS of ($5.9) versus net income of $46.3M and EPS of $1.44 in the prior-year quarter.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$548.4M$528.9M3.7% | Net income²($182.6M)$46.3M(494.4%) | Diluted EPS³($5.9)$1.44(509.7%) |
¹ Reported as “Net sales”. ² Reported as “Net income (loss)”. ³ Reported as “Diluted earnings per share”.
Business Highlights
- Revenue growth was driven by international strength and favorable foreign-exchange impact, with international sales rising faster than U.S. sales (international up 11% in the quarter, 13% year-to-date).
- Product momentum was noted in High-Temperature Technologies and Environmental & Infrastructure, with gains in pet care and paper/packaging product lines.
- Operationally, the company filed a Chapter 11 Parent Plan for talc subsidiaries, increased related reserves, consolidated two facilities and continued plant optimization efforts.
- Production margins were compressed by higher energy, freight and raw material costs that were not fully recovered in the quarter.
Original SEC Filing:
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