Minerals Technologies Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 01, 2023
October 26, 2023 at 05:01 pm EDT
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Minerals Technologies Inc. reported earnings results for the third quarter and nine months ended October 01, 2023. For the third quarter, the company reported sales was USD 547.8 million compared to USD 541.9 million a year ago. Net loss was USD 19.2 million compared to net income of USD 13.4 million a year ago. Basic loss per share from continuing operations was USD 0.59 compared to basic earnings per share from continuing operations of USD 0.41 a year ago. Diluted loss per share from continuing operations was USD 0.59 compared to diluted earnings per share from continuing operations of USD 0.41 a year ago.
For the nine months, sales was USD 1,645.4 million compared to USD 1,617.9 million a year ago. Net income was USD 44.4 million compared to USD 102.4 million a year ago. Basic earnings per share from continuing operations was USD 1.37 compared to USD 3.12 a year ago. Diluted earnings per share from continuing operations was USD 1.36 compared to USD 3.11 a year ago.
Minerals Technologies Inc. is a technology-driven specialty minerals company that develops, produces, and markets a range of mineral and mineral-based products, related systems, and services. The Companyâs segments include Consumer & Specialties and Engineered Solutions. The Consumer & Specialties segment serves consumer end markets directly and provides mineral-based solutions and technologies for its customersâ products. The two product lines in this segment are Household & Personal Care and Specialty Additives. The Company's Engineered Solutions segment combines all engineered systems, mineral blends, and technologies that are designed to aid in customer processes and projects. The two product lines in this segment are High-Temperature Technologies and Environmental & Infrastructure. The Company serves globally a range of consumer and industrial markets, including household, food and pharmaceutical, paper, packaging, automotive, construction, and environmental.