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Jul 03, 2023
Minerals Technologies Q2 2023 Earnings Report
Reported earnings per share of $0.82 and diluted earnings per share of $1.31 excluding special items.
Key Takeaways
Minerals Technologies reported a solid quarter with margin and cash flow improvement, driven by focused execution and commitment to targets. The company initiated a restructuring and cost savings program and announced plans to exit the talc business.
Operating Margin of 9%, or 12.8% Excluding Special Items, Up 120 bps Sequentially
Cash Flow from Operations: $79 Million Year-To-Date, More Than Double Prior Year
Initiated $10 Million Cost Savings Program
Announced Plan to Exit Talc Business
Minerals Technologies
Minerals Technologies
Minerals Technologies Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
MTI has initiated a cost savings program, primarily through workforce reductions. The annualized savings from the program will be approximately $10 million, beginning late in the third quarter of 2023 and achieving full run-rate in the first half of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income