Minerals Technologies Inc. Updates and Financial Results

By Tamara Parker • Friday, April 18 10:04 • Permanent Link

Minerals Technologies Inc. (NYSE: MTX) has provided updates on its subsidiary’s Chapter 11 case and preliminary first quarter 2025 financial results. The company has established a reserve of $215 million for estimated costs to fund a trust to resolve talc-related claims and fund BMI OldCo’s Chapter 11 case and related litigation costs.

Regarding the financial results, MTI expects first quarter sales of $492 million and operating income of $63 million, compared with the company’s guidance of $500 million in sales and $70 million in operating income. The company experienced slower demand conditions in January, impacting volumes throughout the quarter. However, sales improved significantly in March and have continued at a higher rate in April.

MTI has initiated a cost savings program and recorded a charge of $5.5 million for severance and other related costs associated with this program. The company identified further efficiency cost savings of approximately $10 million on an annualized basis, primarily through workforce reductions.

MTI's Chairman and Chief Executive Officer, Douglas T. Dietrich, stated, “Starting out the year, we saw significant changes to order patterns from customers in both of our business segments. However, we saw an improvement in sales in March, which we expect to continue through the second quarter. We adapted quickly to changing market conditions to ensure MTI is well positioned to meet our financial targets and growth initiatives going forward.”

The company will discuss further details on the outlook on its upcoming earnings call on April 25, 2025. Minerals Technologies Inc. is a New York-based, technology-driven specialty minerals company that develops, produces, and markets a broad range of mineral and mineral-based products, related systems, and services. The company reported global sales of $2.1 billion in 2024. As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $56.71. For more information, read the company's full 8-K submission here.

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