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Minerals Technologies Inc. Announces 2025 First Quarter Financial Results
MTXMTI(MTX) Newsfilter·2025-04-24 21:00

Core Insights - Minerals Technologies Inc. (MTI) reported a significant loss per share of 4.51forQ12025,primarilyduetoareserveestablishedforitssubsidiaryBMIOldCo′sChapter11case.Excludingspecialitems,earningswere4.51 for Q1 2025, primarily due to a reserve established for its subsidiary BMI OldCo's Chapter 11 case. Excluding special items, earnings were 1.14 per share [1][4][21] - The company initiated a 10millioncostsavingsprogram,mainlythroughworkforcereductions,withanexpectedfullrunratebyearly2026[5][22]FinancialPerformance−WorldwidenetsalesforQ12025were10 million cost savings program, mainly through workforce reductions, with an expected full run rate by early 2026 [5][22] Financial Performance - Worldwide net sales for Q1 2025 were 492 million, down 8% year-over-year, impacted by softer demand and unfavorable foreign exchange effects [2][28] - Reported operating loss was 160million,whileoperatingincomeexcludingspecialitemswas160 million, while operating income excluding special items was 63 million, representing 12.9% of sales [3][29] - Special items totaled 223million,includinga223 million, including a 215 million provision for talc-related claims and the Chapter 11 case [4][30] Segment Results - Consumer & Specialties segment sales were 268million,down10268 million, down 10% from the prior year, with Household & Personal Care sales at 123 million (down 11%) and Specialty Additives at 145million(down8145 million (down 8%) [6][7][28] - Engineered Solutions segment sales were 224 million, down 6% year-over-year, with High-Temperature Technologies at 169million(down4169 million (down 4%) and Environmental & Infrastructure at 54 million (down 10%) [9][10][28] - Segment operating income for Consumer & Specialties was 30million,whileEngineeredSolutionsreported30 million, while Engineered Solutions reported 34 million, both showing declines compared to the previous year [11][29] Cost Management and Future Outlook - The company recorded a charge of $5.5 million related to the cost savings program initiated in Q1 2025 [5][22] - Management expressed confidence in resolving liabilities through the Chapter 11 process and anticipates improved sales trends continuing into Q2 2025 [3][5]