Minerals Technologies ( (MTX) ) has released its Q1 earnings. Here is a breakdown of the information Minerals Technologies presented to its investors.
Minerals Technologies Inc. (MTI) is a New York-based specialty minerals company that develops, produces, and markets a wide range of mineral-based products and services for consumer and industrial markets globally, including household, food, pharmaceutical, paper, packaging, automotive, construction, and environmental sectors.
In its first-quarter 2025 financial results, MTI reported a significant loss per share of $4.51, primarily due to the establishment of a reserve related to its subsidiary BMI OldCo’s Chapter 11 case. Excluding special items, the company’s earnings were $1.14 per share. The company also announced a $10 million cost savings program to improve efficiency.
Key financial highlights include a worldwide net sales decline of 8% to $492 million, impacted by uncertain end markets and unfavorable foreign exchange rates. The company recorded an operating loss of $160 million, with operating income excluding special items at $63 million. Special items included a $215 million provision for talc-related claims and litigation costs. The Consumer & Specialties segment saw a 10% sales decline, while the Engineered Solutions segment experienced a 6% drop in sales.
Despite the challenging quarter, MTI’s management expressed confidence in resolving the liabilities associated with BMI OldCo and anticipates continued sales improvement into the second quarter. The company is focused on adapting to market conditions to meet its financial targets and growth initiatives.
Looking forward, MTI aims to stabilize its operations and achieve full run-rate savings from its cost-saving initiatives by early 2026, while navigating the ongoing challenges in its end markets and legal proceedings.