Welcome to our dedicated page for Minerals Tech news (Ticker: MTX), a resource for investors and traders seeking the latest updates and insights on Minerals Tech stock.
Minerals Technologies Inc. (MTI) is a leading resource- and technology-based company that develops, produces, and markets a broad range of specialty mineral, mineral-based, and synthetic mineral products, as well as related systems and services worldwide. With its headquarters in New York, MTI operates across five major segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies, and Energy Services.
The Specialty Minerals segment focuses on products like calcium carbonate, limestone, and talc, which are integral to industries such as paper, building materials, paint, automotive, and pharmaceuticals. The Refractories segment deals with products and services for steel furnaces, offering monolithic refractory materials and specialty technologies. The Performance Materials segment markets bentonite used in steel alloy casting and household products, including cat litter.
MTI is strategically positioned with a diversified portfolio serving various consumer and industrial markets globally. From household and pharmaceutical products to packaging, automotive, construction, and environmental applications, MTI delivers essential solutions that enhance product performance across industries. The company reported global sales of $2.2 billion in 2023, reflecting its robust business model and effective market strategies.
Recently, MTI's subsidiary, Barretts Minerals Inc. (BMI), filed for Chapter 11 bankruptcy to address and resolve liabilities associated with talc. Despite this, MTI continues to operate its core businesses without disruptions. The company also announced a significant increase in its quarterly dividend and a new share repurchase program, reinforcing its commitment to returning value to shareholders.
MTI's financial strength is evident from its consistent performance. For the third quarter of 2023, the company reported record sales and operating income, highlighting its alignment with long-term targets. Furthermore, the first quarter of 2024 saw record operating income, driven by growth in high-margin products and strong operational performance. MTI's proactive approach to market challenges and strategic initiatives underscores its capacity for sustainable growth and profitability.
For more detailed information and the latest updates on MTI, please visit their official website.
Minerals Technologies (MTX) reported strong financial results for Q4 and full year 2024. Q4 earnings were $1.68 per share ($1.50 excluding special items), with worldwide net sales of $518 million, down 1% year-over-year. Q4 operating income excluding special items was $74 million, up 7% from prior year.
For full year 2024, the company achieved record operating income and earnings per share of $5.17 ($6.15 excluding special items). Annual net sales were $2.12 billion, down 2% from 2023. Operating income excluding special items reached $316 million, up 13% year-over-year, with margins expanding 200 basis points to 14.9%.
The company generated $236 million in operating cash flow and $147 million in free cash flow, using funds to repay $39 million in debt, repurchase $64 million in shares, and increase dividends. The company maintains a strong balance sheet with a net leverage ratio of 1.6x adjusted EBITDA.
Minerals Technologies (MTX) reported strong Q4 and full-year 2024 results, with Q4 earnings of $1.68 per share ($1.50 excluding special items) and full-year earnings of $5.17 per share ($6.15 excluding special items). Q4 worldwide net sales were $518 million, down 1% year-over-year, while full-year sales reached $2.12 billion, down 2%.
The Consumer & Specialties segment posted Q4 sales of $279 million (-1% YoY) with operating income up 4% to $38 million. The Engineered Solutions segment recorded Q4 sales of $239 million (-2% YoY) with operating income excluding special items up 8% to $40 million.
The company demonstrated strong financial management with $236 million in operating cash flow and $147 million in free cash flow. MTX repaid $39 million in debt, repurchased $64 million in shares, and increased its dividend, maintaining a strong balance sheet with a net leverage ratio of 1.6x adjusted EBITDA.
Minerals Technologies (NYSE: MTX) has announced a regular quarterly dividend payment. The company declared a dividend of $0.11 per share on its outstanding common stock. The dividend will be paid on March 7, 2025, to shareholders who are registered as stockholders at the close of business on February 14, 2025.
Minerals Technologies (NYSE: MTX) has announced its upcoming fourth quarter and full year 2024 financial results release, scheduled for Thursday, February 6, 2025, after market close. The company will host a conference call to discuss these results on Friday, February 7, 2025, at 11:00 a.m. Eastern Time.
Investors can access the webcast and presentation materials through the company's Investor Relations page. For U.S. participants, the conference call dial-in number is +1 877-270-2148, while international participants can dial +1 412-902-6510. The conference ID is Minerals Technologies.
A replay of the call will be available from 2 p.m. ET on February 7, 2025, through 2 p.m. ET on July 27, 2025.
Minerals Technologies (NYSE: MTX) has completed a significant debt refinancing, securing a new seven-year $575 million senior secured Term Loan B and expanding its Revolving Credit Facility from $300 million to $400 million with an extended maturity to 2029. The proceeds will refinance the existing $523 million Term Loan A and clear outstanding Revolver borrowings. This restructuring extends the weighted average tenor of MTI's capital structure beyond five years, boosts liquidity by $150 million, and maintains the company's current leverage position.
Minerals Technologies (MTX) reported record third quarter results with earnings per share of $1.45, or $1.51 excluding special items. Worldwide net sales were $525 million, down 4% year-over-year. Operating income excluding special items reached $79 million, up 3% from prior year, with a 15.1% margin. The Consumer & Specialties segment saw sales of $280 million, while Engineered Solutions reported $244 million. The company announced a new $200 million share repurchase program and increased its quarterly dividend by 10% to $0.11 per share, payable December 5, 2024.
Minerals Technologies Inc. (NYSE: MTX) has expanded its partnership with AIM Intelligent Machines Inc. to deploy artificial intelligence technology for mining operations. This innovative technology retrofits mining equipment of any age, size, or brand, enabling continuous operation at peak performance in all weather conditions. The AI system aims to improve safety, productivity, and analytics while preserving manual operation capabilities.
MTI's CEO, Douglas T. Dietrich, emphasized that this investment aligns with their goal of providing the safest solution for protecting employees and equipment. The partnership with AIM is expected to enhance safety and productivity in complex mining environments. Adam Sadilek, CEO of AIM, expressed enthusiasm about delivering advanced technology to partners like MTI in production environments.
Minerals Technologies Inc. (NYSE: MTX) has announced the release date for its third quarter 2024 financial results. The company will disclose its results for the quarter ending September 27, 2024, on Thursday, October 24, 2024, after the market closes. Following the release, MTI will host a conference call on Friday, October 25, 2024, at 11:00 a.m. Eastern Time to discuss the quarterly performance. Investors and interested parties can access the conference call via webcast through the company's investor relations website at https://investors.mineralstech.com/quarterly-results-conference-calls.
Minerals Technologies Inc. (NYSE: MTX) hosted an Innovation Day for investors and analysts on September 24 at its R&D Center in Hoffman Estates, Illinois. The event showcased MTI's differentiated global mineral reserves, core technologies, application expertise, and customer collaboration that support its market leadership and long-term growth. Presentations highlighted MTI's latest innovations and tailored solutions, including:
- Data analytics and technical service capabilities
- Custom cat litter formulations and packaging solutions
- Bleaching earth for edible oils and renewable fuels
- Personal care ingredients
- Water treatment technologies
- Foundry green sand bonds and metalcasting services
CEO Doug T. Dietrich emphasized how the event demonstrated MTI's core technical capabilities and innovation's role in supporting long-term growth. More information about MTI's products and investor presentations is available on their website.
Minerals Technologies Inc. (NYSE: MTX) has announced its participation in the Gabelli Funds 2nd Annual PFAS Symposium, scheduled for September 26, 2024, in New York City. Three key MTI leaders - Barry Shadrix, Michael Donovan, and Michael Kozak - will present at 11:45am ET at The Harvard Club. The presentation will focus on MTI's proprietary FLUORO-SORB® adsorbent technology, which offers an effective solution for PFAS remediation in water and soil.
The company highlights that its technology has been proven effective through real-world applications and university studies worldwide. Interested parties can access additional details, presentation materials, and registration information through the MTX Events & Presentations page. For more information about Minerals Technologies' FLUORO-SORB® and PFAS solutions, visitors are directed to the company's dedicated website.
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