Minerals Technologies (MTX) investor relations material

Executive summary

• Net sales increased 1% year-over-year to $532–$532.4 million, with record Q3 EPS of $1.55 excluding special items and strong execution despite mixed market conditions.

• Net income was $43 million, with diluted EPS of $1.37, both down from the prior year due to higher litigation expenses related to talc lawsuits and bankruptcy proceedings.

• Free cash flow rose 24% year-over-year to $44 million, and $20 million was returned to shareholders; dividend increased by 9% for the third consecutive year.

• Growth investments in pet care, natural oil purification, and paper/packaging are expected to drive $100 million in incremental revenue over the next 12–18 months.

• Strategic investments and capacity expansions in key markets continue to support near- and long-term growth.

Financial highlights

• Operating income was $78 million excluding special items, with an operating margin of 14.7%; adjusted EBITDA reached $100 million (18.8% margin).

• Net income attributable to shareholders was $43 million, with adjusted EPS of $1.55 and diluted EPS of $1.37.

• Free cash flow for Q3 was $44 million; capital expenditures totaled $27 million.

• Net leverage ratio at 1.7x EBITDA, with net debt at $649 million.

• Dividend per share for Q3 was $0.11, up from $0.10 prior year.

Outlook and guidance

• Q4 sales expected to be $510–$525 million, with operating income of $65–$70 million and EPS between $1.20 and $1.30.

• Management anticipates seasonally slower construction activity, ongoing softness in residential construction and foundry markets, and renewed tariff policy uncertainty.

• Continued focus on innovation, new product development, and selective acquisitions, with 2025 capital expenditures anticipated at $100 million.