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Minerals Technologies Q1 2025 Earnings Report
Minerals Technologies Inc. reported a loss per share for the first quarter of 2025 due to a reserve established for its subsidiary BMI OldCo's Chapter 11 case, despite an increase in sales in March.
Key Takeaways
Minerals Technologies Inc. reported a loss per share of $4.51 for the first quarter of 2025, primarily due to a $215 million reserve for its subsidiary BMI OldCo's Chapter 11 case and related talc-related claims. Excluding special items, earnings were $1.14 per share. Net sales decreased by 8% year-over-year to $492 million, influenced by softer demand and destocking activities, though sales showed significant improvement in March.
Reported a loss per share of $4.51 for Q1 2025, primarily due to a $215 million reserve for talc-related claims and Chapter 11 costs.
Excluding special items, earnings were $1.14 per share.
Worldwide net sales were $492 million, an 8% decrease from the prior year, impacted by destocking and shifting order patterns.
Initiated a $10 million annualized cost savings program through workforce reductions, with $5.5 million charged in Q1 2025.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects sales to continue improving through the second quarter of 2025, following a significant improvement in March.
Positive Outlook
- Expects continued sales improvement through Q2 2025.
- Confident in BMI OldCo's path to resolving liabilities through Chapter 11 process.
- Anticipates full run rate savings from cost savings program by early 2026.
- Adapted quickly to changing market conditions to meet financial targets and growth initiatives.
- Believes all talc sold by BMI OldCo is and always has been safe.
Challenges Ahead
- Experienced slower demand in Q1 2025 due to destocking and shifting order patterns.
- Foreign exchange had an unfavorable impact on sales of 2%.
- Incurred higher operating costs in Q1 2025 due to unfavorable volume leverage and product mix.
- Environmental & Infrastructure sales were lower due to reduced offshore water filtration and services.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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