Minerals Technologies Inc 8-K, filed Oct 29, 2026
Minerals Technologies Inc (MTX)
8-K
2026-10-29
For: 2026-10-29
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Added on
October 29, 2026
About this 8-K
Minerals Technologies Inc filed this 8-K on October 29, 2026.
Minerals Technologies Inc. reported third-quarter sales of $555 million, up 4 percent, and earnings per share of $1.37, or $1.53 excluding special items. It completed a $400 million note offering and increased its quarterly dividend by 8 percent. AI summary
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 OR 15(d) of The Securities Exchange Act of 1934
Pursuant To Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Item 2.02
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Other Events
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On October 29, 2026, Minerals Technologies Inc. issued a press release regarding its financial performance for the third quarter of 2026. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
The information in this Item 2.02 and Exhibit 99.1 shall not be deemed filed for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits
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99.1
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104
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Cover Page Interactive Data File (formatted as inline XBRL)
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MINERALS TECHNOLOGIES INC.
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(Registrant)
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By:
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/s/ Timothy J. Jordan
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Name:
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Timothy J. Jordan
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Title:
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Vice President, General Counsel, Secretary and Chief Compliance Officer
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Date: October 29, 2026
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| EXHIBIT 99.1 | |
 | News Release |
Minerals Technologies Inc. Announces 2026 Third Quarter Financial Results
●
Sales growth was 4 percent
versus prior year and 6 percent year-to-date
● Earnings per share of $1.37 or $1.53,
excluding special items
●
Strong cash flow generation, with
year-to-date cash flow from operations up 32 percent
● Hosted 2026 Investor Day, introducing
new technologies to support U.S. production of rare earths and critical
minerals
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Improved financial flexibility by
extending debt maturities and increasing liquidity
● Increased regular quarterly dividend by
8 percent
NEW YORK, October 29, 2026 (GLOBE
NEWSWIRE) -- Minerals Technologies Inc. (NYSE: MTX) (“MTI”), a leading,
technology-driven specialty minerals company, today reported earnings per share
for the third quarter ended October 4, 2026, of $1.37, or $1.53 excluding
special items.
“Our sales growth continued in
the third quarter, and we remain on track to achieve mid-single-digit revenue growth
for the full year,” said Douglas T. Dietrich, Chairman and Chief Executive
Officer. “We also continue to execute on our growth strategy with the recent
announcement of two new solutions that target opportunities in rare earths and critical
minerals. This demonstrates our ability to extend our core technologies to new
applications and deliver continued long-term growth and value creation.”
Third Quarter 2026 Consolidated Results
MTI’s worldwide net sales for
the third quarter were $555 million, up 4 percent over the prior year and 1 percent higher sequentially. For the first nine
months of 2026, consolidated sales were $1.7 billion, up 6 percent over the prior
year.
Reported operating income in
the third quarter was $65 million, or $72 million, excluding special items. The
reported operating margin was 11.7 percent of sales or 12.9 percent, excluding
special items.
Cash flow from operations and
free cash flow were strong at $76 million and $52 million, respectively, in the
third quarter.
Third Quarter 2026 Segment Results
Consumer & Specialties segment sales were $278
million, up slightly over the prior year and 1 percent higher sequentially. Sales
in the Household & Personal Care product line were $131 million and increased
1 percent over the prior year and 6 percent sequentially. The sequential
increase in Household & Personal Care sales was driven by higher cat litter
volumes in North America and growth in edible oil and renewable fuel
purification, personal care, and fabric care. Sales in the Specialty Additives
product line were $148 million, flat with prior year and 2 percent lower
sequentially.
Segment operating income was $25
million, down 34 percent from the prior year primarily due to higher energy, transportation,
and raw material costs that
were not fully recovered within the quarter due to the timing of contractual
pricing adjustments.
MTI’s Consumer &
Specialties segment provides functional components that become part of a
variety of consumer and industrial products and touch millions of lives every
day. It includes two product lines: Household & Personal Care, which
delivers mineral-to-market products for improved performance and enhanced
consumer experiences in end markets including cat litter, household and
personal care, edible oil and renewable fuel purification, animal health, and
agriculture; and Specialty Additives, which offers mineral-based technologies
for improved functionality in end markets including paper and packaging, food
and pharmaceuticals, sealants and adhesives, paints and coatings, and
residential construction.
Engineered Solutions
segment sales were $277 million, up 9 percent over the prior year and 1
percent sequentially. Sales in the High-Temperature Technologies product line were
$192 million, up 7 percent over the prior year and 1 percent sequentially. The growth
over the prior year was driven by higher sales to steel and foundry customers. In
the Environmental & Infrastructure product line, sales were $85 million, up
11 percent over the prior year and 1 percent sequentially. Stronger sales for environmental
lining and remediation products, building materials, and infrastructure
drilling products drove the increase in sales over the prior year.
Segment operating income was $49
million, up 9 percent over the prior year, and represented an operating margin
of 17.6 percent of sales.
MTI’s Engineered Solutions
segment provides advanced technologies and solutions designed to improve
customers’ manufacturing processes and projects. It includes two product lines:
High-Temperature Technologies, which delivers mineral-based blends,
technologies, and systems that solve complex challenges in the foundry, steel,
and other high-temperature processing industries; and Environmental &
Infrastructure, which offers solutions for water treatment, fluid management, building
materials, and environmental, remediation, and infrastructure-related projects.
2026 Investor Day
On September 22, 2026, MTI
held an Investor Day at its R&D facility in Bethlehem, Pennsylvania, where
it reaffirmed its long-term targets and value creation opportunities. The
company also introduced new breakthrough innovations, including the capability
to produce high-purity calcium metal to support U.S. heavy rare earth
metallization and a new application of MTI’s proprietary waste repurposing
technology to extract commercially valuable minerals from steel slag. The
company estimates that these two opportunities alone could create over $200
million in revenue over the next five years.
Private Offering
On October 13, 2026, MTI
completed a $400 million private offering of 7.5 percent senior notes due 2032
at par and used the net proceeds to repay its $400 million in senior notes due in
2028. The company also amended its credit agreement to increase the amount of
its revolving credit facility from $400 million to $500 million of capacity and
extend the maturity to 2031.
Dividend Increase
On October 21, 2026, MTI
increased its regular quarterly dividend on the company’s common stock by 8
percent to $0.13 per share. The dividend is payable on December 3, 2026, to
stockholders of record at the close of business on November 5, 2026.
“This is the fourth year
in a row that MTI’s Board of Directors has authorized an increase of our
quarterly dividend, reflecting our confidence in MTI’s continued ability to
deliver steady cash flow, create value for shareholders, and execute on its
long-term growth strategy,” said Dietrich.
Conference Call
MTI will host a
conference call tomorrow, October 30, 2026, at 11 a.m. Eastern Time. The live earnings webcast
can be accessed at https://investors.mineralstech.com/quarterly-results-conference-calls. A presentation for the
call will be available at the same location at approximately 10:30 a.m. Eastern
Time on October 30, 2026.
FORWARD-LOOKING STATEMENTS
This press release may contain
"forward‐looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements provide current expectations and
forecasts of future events such as new products, revenues, and financial
performance, and are not limited to describing historical or current facts.
They can be identified by the use of words such as “believes,” “expects,”
“plans,” “intends,” “anticipates,” and other words and phrases of similar
meaning. Forward-looking statements are necessarily based on assumptions,
estimates, and limited information available at the time they are made. A broad
variety of risks and uncertainties, both known and unknown, as well as the
inaccuracy of assumptions and estimates, can affect the realization of the
expectations or forecasts in these statements. Actual future results may vary
materially. Significant factors that could affect the expectations and
forecasts include worldwide general economic, business, and industry
conditions; the cyclicality of our customers’ businesses and their changing
regional demands; our ability to compete in very competitive industries;
consolidation in customer industries, principally paper, foundry, and steel;
our ability to renew or extend long term sales contracts for our satellite
operations; our ability to generate cash to service our debt; our ability to
comply with the covenants in the agreements governing our debt; our ability to
effectively achieve and implement our growth initiatives or consummate the
transactions described in the statements; our ability to successfully develop
new products; our ability to defend our intellectual property; the increased
risks of doing business abroad; the availability of raw materials and access to
ore reserves at our mining operations, or increases in costs of raw materials,
energy, or shipping; compliance with or changes to regulation in the areas of
environmental, health and safety, and tax; risks and uncertainties related to
the voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code
filed by our subsidiaries BMI OldCo Inc. (f/k/a Barretts Minerals Inc.) and
Barretts Ventures Texas LLC; claims for legal, environmental, and tax matters
or product stewardship issues; operating risks and capacity limitations
affecting our production facilities; seasonality of some of our businesses;
cybersecurity and other threats relating to our information technology systems;
and other risk factors and cautionary statements in our 2025 Annual Report on
Form 10‐K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other reports
filed with the Securities and Exchange Commission. The Company undertakes no
obligation to publicly update any forward‐looking statement, whether as
a result of new information, future events, or otherwise.
About Minerals Technologies Inc.
Minerals Technologies
Inc. (NYSE:MTX) is a global, technology-driven specialty minerals company that sources,
manufactures, sells, and distributes a wide range of minerals and mineral-based
products and services. We utilize our global mineral reserves, combined with
our core technologies and applications, to deliver innovative products that are
an essential part of everyday life. We serve customers in consumer and
industrial markets worldwide, have 4,000 employees in 34 countries, and
reported global sales of $2.1 billion in 2025. For further information, visit
www.mineralstech.com.
| Investor Relations Contact |
| Lydia Kopylova |
| lydia.kopylova@mineralstech.com |
| Media Contact |
| Stephanie Heise |
| stephanie.heise@mineralstech.com |
###
1
MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(in millions of dollars, except per share data)
(unaudited)
| Quarter Ended | % Growth | Nine Months Ended | % Growth | ||||||||||||||||||||||||||||
| Oct. 4, | Jul. 5, | Sep. 28, | Prior | Prior | Oct. 4, | Sep. 28, | Prior | ||||||||||||||||||||||||
| 2026 | 2026 | 2025 | Qtr. | Year | 2026 | 2025 | Year | ||||||||||||||||||||||||
| Net sales | $ | 554.9 | $ | 548.4 | $ | 532.4 | 1 | % | 4 | % | $ | 1,650.2 | $ | 1,553.1 | 6 | % | |||||||||||||||
| Cost of goods sold | 425.7 | 414.6 | 395.4 | 3 | % | 8 | % | 1,256.1 | 1,159.6 | 8 | % | ||||||||||||||||||||
| Production margin | 129.2 | 133.8 | 137.0 | (3 | )% | (6 | )% | 394.1 | 393.5 | 0 | % | ||||||||||||||||||||
| Marketing and administrative expenses | 52.0 | 53.3 | 53.0 | (2 | )% | (2 | )% | 162.8 | 155.8 | 4 | % | ||||||||||||||||||||
| Research and development expenses | 5.7 | 5.9 | 5.6 | (3 | )% | 2 | % | 17.7 | 17.1 | 4 | % | ||||||||||||||||||||
| Provision for litigation accrual and credit losses | 0.0 | 290.0 | 0.0 | * | * | 290.0 | 215.0 | 35 | % | ||||||||||||||||||||||
| Restructuring and other items | 0.0 | 0.0 | 0.0 | * | * | 0.0 | 11.3 | * | |||||||||||||||||||||||
| Gain on sale of assets, net | 0.0 | 0.0 | 0.0 | * | * | 0.0 | (5.6 | ) | * | ||||||||||||||||||||||
| Litigation expenses | 6.7 | 4.9 | 7.5 | 37 | % | (11 | )% | 20.4 | 14.5 | 41 | % | ||||||||||||||||||||
| Income (loss) from operations | 64.8 | (220.3 | ) | 70.9 | * | (9 | )% | (96.8 | ) | (14.6 | ) | * | |||||||||||||||||||
| Interest expense, net | (12.1 | ) | (12.1 | ) | (13.8 | ) | 0 | % | (12 | )% | (37.5 | ) | (41.6 | ) | (10 | )% | |||||||||||||||
| Other non-operating income (deductions), net | 0.3 | 1.1 | (0.5 | ) | (73 | )% | * | 1.9 | (4.4 | ) | * | ||||||||||||||||||||
| Total non-operating deductions, net | (11.8 | ) | (11.0 | ) | (14.3 | ) | 7 | % | (17 | )% | (35.6 | ) | (46.0 | ) | (23 | )% | |||||||||||||||
| Income (loss) before tax and equity in earnings | 53.0 | (231.3 | ) | 56.6 | * | (6 | )% | (132.4 | ) | (60.6 | ) | * | |||||||||||||||||||
| Provision (benefit) for taxes on income | 12.2 | (46.2 | ) | 13.5 | * | (10 | )% | (24.1 | ) | (4.7 | ) | 413 | % | ||||||||||||||||||
| Equity in earnings of affiliates, net of tax | 3.0 | 2.5 | 1.1 | 20 | % | 173 | % | 6.8 | 3.4 | 100 | % | ||||||||||||||||||||
| Net income (loss) | 43.8 | (182.6 | ) | 44.2 | * | (1 | )% | (101.5 | ) | (52.5 | ) | * | |||||||||||||||||||
| Less: Net income attributable to non-controlling interests | 1.1 | 1.0 | 1.2 | 10 | % | (8 | )% | 3.2 | 3.1 | 3 | % | ||||||||||||||||||||
| Net income (loss) attributable to Minerals Technologies Inc. (MTI) | $ | 42.7 | $ | (183.6 | ) | $ | 43.0 | * | (1 | )% | $ | (104.7 | ) | $ | (55.6 | ) | * | ||||||||||||||
| Weighted average number of common shares outstanding: | |||||||||||||||||||||||||||||||
| Basic | 31.1 | 31.1 | 31.3 | 31.1 | 31.6 | ||||||||||||||||||||||||||
| Diluted | 31.2 | 31.1 | 31.3 | 31.1 | 31.6 | ||||||||||||||||||||||||||
| Earnings (loss) per share attributable to MTI: | |||||||||||||||||||||||||||||||
| Basic | $ | 1.37 | $ | (5.90 | ) | $ | 1.37 | * | 0 | % | $ | (3.37 | ) | $ | (1.76 | ) | * | ||||||||||||||
| Diluted | $ | 1.37 | $ | (5.90 | ) | $ | 1.37 | * | 0 | % | $ | (3.37 | ) | $ | (1.76 | ) | * | ||||||||||||||
| Cash dividends declared per common share | $ | 0.12 | $ | 0.12 | $ | 0.11 | $ | 0.36 | $ | 0.33 | |||||||||||||||||||||
| * Percentage not meaningful | |||||||||||||||||||||||||||||||
2
MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
NOTES TO CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
| 1) | For comparative purposes, the quarterly periods ended October 4, 2026, July 5, 2026, and September 28, 2025 each consisted of 91 days. The nine month periods ended October 4, 2026 and September 28, 2025 consisted of 277 days and 271 days, respectively. | |||||||||||||||||||
| 2) | To supplement the Company's consolidated financial statements presented in accordance with GAAP, the following is a presentation of the Company's non-GAAP earnings per share, excluding special items, for the quarterly periods ended October 4, 2026, July 5, 2026, and September 28, 2025, and the nine month periods ended October 4, 2026 and September 28, 2025 and a reconciliation to reported earnings per share for such periods. The Company's management believes these non-GAAP measures provide meaningful supplemental information regarding its performance as the inclusion of such special items are not indicative of the ongoing operating results and thereby affect the comparability of results between periods. The Company believes inclusion of these non-GAAP measures also provides consistency in its financial reporting and facilitates investors' understanding of historic operating trends. | |||||||||||||||||||||||||||||||||||||||
| (in millions of dollars, except per share data) | Quarter Ended | Nine Months Ended | ||||||||||||||||||
| Oct. 4, | Jul. 5, | Sep. 28, | Oct. 4, | Sep. 28, | ||||||||||||||||
| 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||
| Net income (loss) attributable to MTI | $ | 42.7 | $ | (183.6 | ) | $ | 43.0 | $ | (104.7 | ) | $ | (55.6 | ) | |||||||
| % of sales | 7.7 | % | * | 8.1 | % | * | * | |||||||||||||
| Special items: | ||||||||||||||||||||
| Provision for litigation accrual and credit losses | 0.0 | 290.0 | 0.0 | 290.0 | 215.0 | |||||||||||||||
| Restructuring and other items | 0.0 | 0.0 | 0.0 | 0.0 | 11.3 | |||||||||||||||
| Gain on sale of assets, net | 0.0 | 0.0 | 0.0 | 0.0 | (5.6 | ) | ||||||||||||||
| Litigation expenses | 6.7 | 4.9 | 7.5 | 20.4 | 14.5 | |||||||||||||||
| Related tax effects on special items | (1.6 | ) | (61.5 | ) | (1.9 | ) | (65.3 | ) | (45.7 | ) | ||||||||||
| Net income attributable to MTI, excluding special items | $ | 47.8 | $ | 49.8 | $ | 48.6 | $ | 140.4 | $ | 133.9 | ||||||||||
| % of sales | 8.6 | % | 9.1 | % | 9.1 | % | 8.5 | % | 8.6 | % | ||||||||||
| Diluted earnings per share, excluding special items | $ | 1.53 | $ | 1.60 | $ | 1.55 | $ | 4.51 | $ | 4.24 | ||||||||||
| * Percentage not meaningful | ||||||||||||||||||||
| In the first nine months of 2025, the Company recorded a $5.6 million net gain on the final installment for the sale of refractories manufacturing assets in China. In addition, the Company initiated a cost savings program and recorded a $5.5 million charge relating to severance and other costs. The Company also recorded a $5.8 million charge in restructuring and other items primarily for the write-down of assets and other charges relating to the consolidation of two facilities. |
| In the first quarter of 2025, the Company recorded a $215 million provision to establish a reserve for estimated costs to fund a trust to resolve all current and future talc-related settlements as well as fund the bankruptcy of BMI Oldco Inc.’s (f/k/a Barretts Minerals Inc.) (“Oldco”) and Barretts Ventures Texas LLC, and related litigation costs. Included in this provision is $30 million of additional debtor-in-possession financing by Minerals Technologies Investments LLC to the Debtors, which was committed in Q2 2025. The Company incurred litigation and settlement expenses of $6.7 million, $4.9 million, and $7.5 million for the quarterly periods ending October 4, 2026, July 5, 2026, and September 28, 2025, respectively, in connection with the bankruptcy of Oldco and lawsuits related to talc products sold by Oldco. |
| In the second quarter of 2026, the Company filed a Plan of Reorganization in the Chapter 11 cases of its subsidiary BMI Oldco Inc., which would present a viable, efficient, and advantageous resolution of these Chapter 11 cases. Accordingly, the Company recorded a charge of $290 million to increase the Company's reserve for estimated costs. |
| 3) | Free cash flow is defined as cash flow from operations less capital expenditures. The following is a presentation of the Company's non-GAAP free cash flow for the quarterly periods ended October 4, 2026, July 5, 2026, and September 28, 2025, and the nine month periods ended October 4, 2026 and September 28, 2025 and a reconciliation to cash flow from operations for such periods. The Company's management believes this non-GAAP measure provides meaningful supplemental information as management uses this measure to evaluate the Company's ability to maintain capital assets, satisfy current and future obligations, repurchase stock, pay dividends, and fund future business opportunities. Free cash flow is not a measure of cash available for discretionary expenditures since the Company has certain non-discretionary obligations such as debt service that are not deducted from the measure. The Company's definition of free cash flow may not be comparable to similarly titled measures reported by other companies. |
| Quarter Ended | Nine Months Ended | |||||||||||||||||||
| (in millions of dollars) | Oct. 4, | Jul. 5, | Sep. 28, | Oct. 4, | Sep. 28, | |||||||||||||||
| 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||
| Cash flow from operations | $ | 75.9 | $ | 63.0 | $ | 70.9 | $ | 171.0 | $ | 129.4 | ||||||||||
| Capital expenditures | 24.0 | 27.2 | 27.3 | 74.3 | 74.7 | |||||||||||||||
| Free cash flow | $ | 51.9 | $ | 35.8 | $ | 43.6 | $ | 96.7 | $ | 54.7 | ||||||||||
| Depreciation, depletion, and amortization expense | $ | 23.5 | $ | 23.5 | $ | 22.4 | $ | 71.9 | $ | 67.9 | ||||||||||
| 4) | “Adjusted EBITDA” is a non-GAAP financial measure and refers to earnings before interest, taxes, depreciation and amortization (EBITDA), excluding special items. The following is a presentation of the Company's non-GAAP EBITDA and Adjusted EBITDA for the quarterly periods ended October 4, 2026, July 5, 2026, and September 28, 2025, and the nine month periods ended October 4, 2026 and September 28, 2025, and a reconciliation to net income for such periods. “Adjusted Net Leverage” is a non-GAAP financial measure and refers to Total Debt less cash, cash equivalents and short-term investments, divided by trailing 12-month Adjusted EBITDA. The following table also presents Adjusted Net Leverage for the quarterly periods ended October 4, 2026, July 5, 2026, and September 28, 2025. The Company's management believes these non-GAAP measures provide meaningful supplemental information regarding its performance and capital allocation strategies, and facilitates investors' understanding of historic operating trends. |
| Quarter Ended | Nine Months Ended | |||||||||||||||||||
| (in millions of dollars) | Oct. 4, | Jul. 5, | Sep. 28, | Oct. 4, | Sep. 28, | |||||||||||||||
| 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||
| Net income (loss) attributable to MTI | $ | 42.7 | $ | (183.6 | ) | $ | 43.0 | $ | (104.7 | ) | $ | (55.6 | ) | |||||||
| Add back: | ||||||||||||||||||||
| Depreciation, depletion, and amortization expense | 23.5 | 23.5 | 22.4 | 71.9 | 67.9 | |||||||||||||||
| Interest expense, net | 12.1 | 12.1 | 13.8 | 37.5 | 41.6 | |||||||||||||||
| Equity in earnings of affiliates, net of tax | (3.0 | ) | (2.5 | ) | (1.1 | ) | (6.8 | ) | (3.4 | ) | ||||||||||
| Net income attributable to non-controlling interests | 1.1 | 1.0 | 1.2 | 3.2 | 3.1 | |||||||||||||||
| Provision (benefit) for taxes on income | 12.2 | (46.2 | ) | 13.5 | (24.1 | ) | (4.7 | ) | ||||||||||||
| EBITDA | 88.6 | (195.7 | ) | 92.8 | (23.0 | ) | 48.9 | |||||||||||||
| Add special items: | ||||||||||||||||||||
| Provision for litigation accrual and credit losses | 0.0 | 290.0 | 0.0 | 290.0 | 215.0 | |||||||||||||||
| Restructuring and other items | 0.0 | 0.0 | 0.0 | 0.0 | 11.3 | |||||||||||||||
| Gain on sale of assets, net | 0.0 | 0.0 | 0.0 | 0.0 | (5.6 | ) | ||||||||||||||
| Litigation expenses | 6.7 | 4.9 | 7.5 | 20.4 | 14.5 | |||||||||||||||
| Adjusted EBITDA | $ | 95.3 | $ | 99.2 | $ | 100.3 | $ | 287.4 | $ | 284.1 | ||||||||||
| % of sales | 17.2 | % | 18.1 | % | 18.8 | % | 17.4 | % | 18.3 | % | ||||||||||
| Total Debt | $ | 957.8 | $ | 964.9 | $ | 977.7 | ||||||
| Less: cash, cash equivalents and short-term investments | 379.0 | 346.2 | 328.3 | |||||||||
| Total | $ | 578.8 | $ | 618.7 | $ | 649.4 | ||||||
| TTM Adjusted EBITDA | $ | 374.7 | $ | 379.7 | $ | 382.3 | ||||||
| Adjusted net leverage | 1.5 | X | 1.6 | X | 1.7 | X |
| 5) | The following table reflects the components of non-operating income and deductions: |
| (in millions of dollars) | Quarter Ended | Nine Months Ended | ||||||||||||||||||
| Oct. 4, | Jul. 5, | Sep. 28, | Oct. 4, | Sep. 28, | ||||||||||||||||
| 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||
| Interest income | $ | 1.5 | $ | 1.5 | $ | 1.2 | $ | 4.3 | $ | 3.6 | ||||||||||
| Interest expense | (13.6 | ) | (13.6 | ) | (15.0 | ) | (41.8 | ) | (45.2 | ) | ||||||||||
| Foreign exchange gains (losses) | 1.1 | 0.7 | 0.1 | 3.2 | (1.8 | ) | ||||||||||||||
| Other income (deductions) | (0.8 | ) | 0.4 | (0.6 | ) | (1.3 | ) | (2.6 | ) | |||||||||||
| Total non-operating deductions, net | $ | (11.8 | ) | $ | (11.0 | ) | $ | (14.3 | ) | $ | (35.6 | ) | $ | (46.0 | ) | |||||
| 6) | The analyst conference call to discuss operating results for the third quarter is scheduled for Friday, October 30, 2026 at 11:00 a.m. Eastern Time and will be broadcast over the Company's website (www.mineralstech.com). The broadcast will remain on the Company's website for no less than one year. |
3
MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
SUPPLEMENTARY DATA
(in millions of dollars)
(unaudited)
| Quarter Ended | % Growth | Nine Months Ended | % Growth | |||||||||||||||||||||||||||||||||||||||||||||||||
| SALES DATA | Oct. 4, | % of | Jul. 5, | % of | Sep. 28, | % of | Prior | Prior | Oct. 4, | % of | Sep. 28, | % of | Prior | |||||||||||||||||||||||||||||||||||||||
| 2026 | Total Sales | 2026 | Total Sales | 2025 | Total Sales | Qtr. | Year | 2026 | Total Sales | 2025 | Total Sales | Year | ||||||||||||||||||||||||||||||||||||||||
| United States | $ | 287.7 | 52 | % | $ | 275.4 | 50 | % | $ | 273.3 | 51 | % | 4 | % | 5 | % | $ | 843.7 | 51 | % | $ | 817.6 | 53 | % | 3 | % | ||||||||||||||||||||||||||
| International | 267.2 | 48 | % | 273.0 | 50 | % | 259.1 | 49 | % | (2 | )% | 3 | % | 806.5 | 49 | % | 735.5 | 47 | % | 10 | % | |||||||||||||||||||||||||||||||
| Net Sales | $ | 554.9 | 100 | % | $ | 548.4 | 100 | % | $ | 532.4 | 100 | % | 1 | % | 4 | % | $ | 1,650.2 | 100 | % | $ | 1,553.1 | 100 | % | 6 | % | ||||||||||||||||||||||||||
| Household & Personal Care | $ | 130.5 | 23 | % | $ | 123.4 | 22 | % | $ | 129.8 | 24 | % | 6 | % | 1 | % | $ | 396.3 | 24 | % | $ | 380.3 | 24 | % | 4 | % | ||||||||||||||||||||||||||
| Specialty Additives | 147.6 | 27 | % | 151.1 | 28 | % | 147.6 | 28 | % | (2 | )% | 0 | % | 452.9 | 27 | % | 443.1 | 29 | % | 2 | % | |||||||||||||||||||||||||||||||
| Consumer & Specialties Segment | $ | 278.1 | 50 | % | $ | 274.5 | 50 | % | $ | 277.4 | 52 | % | 1 | % | 0 | % | $ | 849.2 | 51 | % | $ | 823.4 | 53 | % | 3 | % | ||||||||||||||||||||||||||
| High-Temperature Technologies | $ | 192.3 | 35 | % | $ | 190.3 | 35 | % | $ | 178.9 | 34 | % | 1 | % | 7 | % | $ | 565.9 | 34 | % | $ | 526.7 | 34 | % | 7 | % | ||||||||||||||||||||||||||
| Environmental & Infrastructure | 84.5 | 15 | % | 83.6 | 15 | % | 76.1 | 14 | % | 1 | % | 11 | % | 235.1 | 15 | % | 203.0 | 13 | % | 16 | % | |||||||||||||||||||||||||||||||
| Engineered Solutions Segment | $ | 276.8 | 50 | % | $ | 273.9 | 50 | % | $ | 255.0 | 48 | % | 1 | % | 9 | % | $ | 801.0 | 49 | % | $ | 729.7 | 47 | % | 10 | % | ||||||||||||||||||||||||||
| MTI Consolidated Net Sales | $ | 554.9 | 100 | % | $ | 548.4 | 100 | % | $ | 532.4 | 100 | % | 1 | % | 4 | % | $ | 1,650.2 | 100 | % | $ | 1,553.1 | 100 | % | 6 | % | ||||||||||||||||||||||||||
4
MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
SUPPLEMENTARY DATA
(in millions of dollars)
(unaudited)
| Quarter Ended | % Growth | Nine Months Ended | % Growth | ||||||||||||||||||||||||||||
| Oct. 4, | Jul. 5, | Sep. 28, | Prior | Prior | Oct. 4, | Sep. 28, | Prior | ||||||||||||||||||||||||
| SEGMENT OPERATING INCOME (LOSS) DATA | 2026 | 2026 | 2025 | Qtr. | Year | 2026 | 2025 | Year | |||||||||||||||||||||||
| Consumer & Specialties Segment | $ | 24.8 | $ | 29.3 | $ | 37.4 | (15 | )% | (34 | )% | $ | 86.6 | $ | 98.9 | (12 | )% | |||||||||||||||
| % of Sales | 8.9 | % | 10.7 | % | 13.5 | % | 10.2 | % | 12.0 | % | |||||||||||||||||||||
| Engineered Solutions Segment | $ | 48.7 | $ | 48.8 | $ | 44.8 | 0 | % | 9 | % | $ | 136.8 | $ | 125.2 | 9 | % | |||||||||||||||
| % of Sales | 17.6 | % | 17.8 | % | 17.6 | % | 17.1 | % | 17.2 | % | |||||||||||||||||||||
| Unallocated and Other Corporate Expenses | $ | (8.7 | ) | $ | (298.4 | ) | $ | (11.3 | ) | * | * | $ | (320.2 | ) | $ | (238.7 | ) | * | |||||||||||||
| MTI Consolidated | $ | 64.8 | $ | (220.3 | ) | $ | 70.9 | * | * | $ | (96.8 | ) | $ | (14.6 | ) | * | |||||||||||||||
| % of Sales | 11.7 | % | * | 13.3 | % | * | * | ||||||||||||||||||||||||
| SPECIAL ITEMS | |||||||||||||||||||||||||||||||
| Consumer & Specialties Segment | $ | - | $ | - | $ | - | * | * | $ | - | $ | 5.8 | * | ||||||||||||||||||
| Engineered Solutions Segment | $ | - | $ | - | $ | - | * | * | $ | - | $ | (2.3 | ) | * | |||||||||||||||||
| Unallocated and Other Corporate Expenses | $ | 6.7 | $ | 294.9 | $ | 7.5 | * | * | $ | 310.4 | $ | 231.7 | * | ||||||||||||||||||
| MTI Consolidated | $ | 6.7 | $ | 294.9 | $ | 7.5 | * | * | $ | 310.4 | $ | 235.2 | * | ||||||||||||||||||
| To supplement the Company's consolidated financial statements presented in accordance with GAAP, the following is a presentation of the Company's non-GAAP operating income, excluding special items (set forth in the above table), for the quarterly periods ended October 4, 2026, July 5, 2026, and September 28, 2025, and the nine month periods ended October 4, 2026 and September 28, 2025, constituting a reconciliation to GAAP operating income (loss) set forth above. The Company's management believes these non-GAAP measures provide meaningful supplemental information regarding its performance as the inclusion of such special items are not indicative of ongoing operating results and thereby affect the comparability of results between periods. The Company believes inclusion of these non-GAAP measures also provides consistency in its financial reporting and facilitates investors' understanding of historic operating trends. | |||||||||||||||
| Quarter Ended | % Growth | Nine Months Ended | % Growth | ||||||||||||||||||||||||||||
| SEGMENT OPERATING INCOME, | Oct. 4, | Jul. 5, | Sep. 28, | Prior | Prior | Oct. 4, | Sep. 28, | Prior | |||||||||||||||||||||||
| EXCLUDING SPECIAL ITEMS | 2026 | 2026 | 2025 | Qtr. | Year | 2026 | 2025 | Year | |||||||||||||||||||||||
| Consumer & Specialties Segment | $ | 24.8 | $ | 29.3 | $ | 37.4 | (15 | )% | (34 | )% | $ | 86.6 | $ | 104.7 | (17 | )% | |||||||||||||||
| % of Sales | 8.9 | % | 10.7 | % | 13.5 | % | 10.2 | % | 12.7 | % | |||||||||||||||||||||
| Engineered Solutions Segment | $ | 48.7 | $ | 48.8 | $ | 44.8 | 0 | % | 9 | % | $ | 136.8 | $ | 122.9 | 11 | % | |||||||||||||||
| % of Sales | 17.6 | % | 17.8 | % | 17.6 | % | 17.1 | % | 16.8 | % | |||||||||||||||||||||
| Unallocated and Other Corporate Expenses | $ | (2.0 | ) | $ | (3.5 | ) | $ | (3.8 | ) | (43 | )% | (47 | )% | $ | (9.8 | ) | $ | (7.0 | ) | 40 | % | ||||||||||
| MTI Consolidated | $ | 71.5 | $ | 74.6 | $ | 78.4 | (4 | )% | (9 | )% | $ | 213.6 | $ | 220.6 | (3 | )% | |||||||||||||||
| % of Sales | 12.9 | % | 13.6 | % | 14.7 | % | 12.9 | % | 14.2 | % | |||||||||||||||||||||
| * Percentage not meaningful | |||||||||||||||||||||||||||||||
5
MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions of dollars)
| ASSETS | ||||||||
| Oct. 4, | December 31, | |||||||
| 2026* | 2025** | |||||||
| Current assets: | ||||||||
| Cash & cash equivalents | $ | 372.1 | $ | 329.0 | ||||
| Short-term investments | 6.9 | 3.6 | ||||||
| Accounts receivable, net | 421.7 | 400.1 | ||||||
| Inventories | 368.2 | 350.2 | ||||||
| Prepaid expenses and other current assets | 65.6 | 72.7 | ||||||
| Total current assets | 1,234.5 | 1,155.6 | ||||||
| Property, plant, and equipment | 2,346.5 | 2,308.9 | ||||||
| Less accumulated depreciation | 1,310.8 | 1,283.9 | ||||||
| Net property, plant, and equipment | 1,035.7 | 1,025.0 | ||||||
| Goodwill | 915.5 | 915.9 | ||||||
| Intangible assets | 199.4 | 208.7 | ||||||
| Other assets and deferred charges | 163.3 | 163.8 | ||||||
| Total assets | $ | 3,548.4 | $ | 3,469.0 | ||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Short-term debt | $ | 0.0 | $ | 0.4 | ||||
| Current maturities of long-term debt | 5.9 | 6.3 | ||||||
| Accounts payable | 219.3 | 187.9 | ||||||
| Other current liabilities | 624.1 | 360.8 | ||||||
| Total current liabilities | 849.3 | 555.4 | ||||||
| Long-term debt | 951.9 | 955.0 | ||||||
| Deferred income taxes | 31.3 | 90.7 | ||||||
| Other non-current liabilities | 104.3 | 118.2 | ||||||
| Total liabilities | 1,936.8 | 1,719.3 | ||||||
| Total MTI shareholders' equity | 1,578.7 | 1,713.4 | ||||||
| Non-controlling interests | 32.9 | 36.3 | ||||||
| Total shareholders' equity | 1,611.6 | 1,749.7 | ||||||
| Total liabilities and shareholders' equity | $ | 3,548.4 | $ | 3,469.0 | ||||
| * Unaudited | ||||||||
| ** Condensed from audited financial statements. | ||||||||