Picture of Minerals Technologies logo

MTX — Minerals Technologies News Story

0.000.00%
us flag iconLast trade - 00:00
Basic MaterialsBalancedMid CapNeutral

Minerals Technologies Q2 revenue came in-line with estimates as demand rebounds

Overview

Minerals Technologies Q2 revenue up 8% sequentially, largely in-line with analyst expectations

Q2 Adjusted EPS of the specialty minerals firm rises 36% sequentially to $1.55

Company highlights strong cash flow and releases 17th annual sustainability report

Outlook

Company expects stronger second half driven by growth initiatives

Minerals Technologies sees continued sales momentum into second half

Minerals Technologies foresees stronger performance in upcoming quarters

Result Drivers

DEMAND REBOUND - MTI's net sales rose 8% sequentially due to a significant rebound in demand across all product lines

CONSUMER & SPECIALTIES GROWTH - Sales in this segment increased 4% sequentially, driven by improved customer order stability and higher residential construction activity

ENGINEERED SOLUTIONS GROWTH - Sales in the Engineered Solutions segment rose 12% sequentially, driven by stronger demand from steel and foundry customers and seasonal project activity

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 SalesMiss$528.90 mln$529.10 mln (3 Analysts)
Q2 EPS$1.44
Q2 Net Income$46.30 mln
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell" The average consensus recommendation for the specialty chemicals peer group is "buy" Wall Street's median 12-month price target for Minerals Technologies Inc is $80.00, about 26% above its July 24 closing price of $59.20 The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago Press Release: ID:nGNX1fQMx9 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Recent news on Minerals Technologies

See all news