Minerals Technologies Inc

MTX

Equity

ISIN US6031581068 / Valor 952354

New York Stock Exchange, Inc (2024-12-24)

USD 76.73+0.89%

Minerals Technologies Inc
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About company

Minerals Technologies Inc. (MTI) is a global resource- and technology-based company that develops, produces, and markets a broad range of specialty mineral, mineral-based, and synthetic mineral products and related systems and services. The company's unique vertical integration strategy allows for a streamlined supply chain, from mining to market, leveraging its global production capabilities across 32 countries, alongside research and development facilities in 12 countries. This integration ensures efficient operations and the delivery of high-quality products to its customers worldwide. MTI serves various industries, including paper, foundry, steel, construction, environmental, and energy, providing innovative solutions tailored to meet specific customer needs. Through its extensive global footprint, MTI is positioned to supply its diverse portfolio of products and services efficiently, supporting the operational and sustainability goals of its clients across different sectors.

Summarized from source with an LLMView SourceSector: Industrials

Earnings Overview

Minerals Technologies Inc. reported a strong financial performance for the first quarter of 2024, with diluted earnings per share of $1.49, excluding special items. This represents an increase from the reported earnings per share of $1.44. The company's focus on higher margin products and robust business operations contributed to this growth.

Revenue Growth

For the first quarter of 2024, Minerals Technologies Inc. achieved worldwide net sales of $535 million. This marks a 2 percent increase sequentially and a slight rise compared to the previous year, adjusted for the deconsolidation of Barretts Minerals Inc. The growth was primarily driven by the Consumer & Specialties segment.

Operational Success

Minerals Technologies Inc. recorded a record operating income of $77 million for the first quarter of 2024, excluding special items, which is a 23% increase over the previous year. The operating margin also improved significantly, reaching 14.5 percent of sales, demonstrating the company's efficient management and strategic operations.

Cash Flow and Capital Management

The company generated a record first quarter cash flow from operations of $56 million in Q1 2024. Additionally, free cash flow stood at $39 million. Minerals Technologies Inc. also returned value to shareholders by repurchasing $15 million of shares and repaying $13 million of debt during the quarter.

Segment Performance

The Consumer & Specialties segment of Minerals Technologies Inc. saw a 4 percent increase in sales on an underlying basis, reaching $297 million in the first quarter of 2024. This segment, which includes Household & Personal Care and Specialty Additives, benefited from strong demand and strategic pricing, leading to a 30 percent improvement in operating income from the previous year.

Summarized from source with an LLMView Source

Key figures

10.5%1Y

6.94%3Y

33.2%5Y

Performance

26.4%1Y

30.4%3Y

38.7%5Y

Volatility