Minerals Technologies Inc. is dedicated to the development, manufacturing, and distribution of a wide array of specialized mineral, mineral-based, and synthetic mineral ...
Minerals Technologies Inc. is a New York-based specialty minerals and materials company founded in 1968 and listed on the New York Stock Exchange under the symbol MTX. The company operates internationally through a portfolio of mineral resources, processing technologies, engineered products, technical services, and application-focused solutions. Its business model combines ...Minerals Technologies Inc. is a New York-based specialty minerals and materials company founded in 1968 and listed on the New York Stock Exchange under the symbol MTX. The company operates internationally through a portfolio of mineral resources, processing technologies, engineered products, technical services, and application-focused solutions. Its business model combines access to mineral reserves with manufacturing, formulation, research and development, technical support, and customer-specific product design. This combination allows MTX to sell both industrial materials and performance-enhancing solutions rather than operating solely as a commodity miner.
The company reports three principal operating segments. Performance Materials supplies bentonite and related products, leonardite, metal-casting materials, environmental products, building components, and specialty materials used in household, personal-care, infrastructure, construction, remediation, and environmental-management applications. Specialty Minerals produces precipitated calcium carbonate and quicklime and also markets natural limestone and talc. These products are used in paper and packaging, paints and coatings, construction, glass, ceramics, polymers, food, automotive, and pharmaceutical applications. Refractories provides monolithic and pre-shaped refractory materials, application and measurement equipment, technical services, calcium metal, and metallurgical wire products, primarily for steel, non-ferrous metals, and glass producers.
MTX’s customers are generally industrial and business-to-business buyers that value consistent quality, process performance, technical reliability, and supply continuity. The company sells mainly through its internal sales organization and regional distributors across the United States, Canada, Latin America, Europe, Africa, and Asia. Its cost structure is influenced by mineral extraction and purchasing costs, energy, transportation, labor, plant maintenance, environmental compliance, packaging, research and development, and capital expenditures for mines, processing plants, and production equipment. Because mineral products can be bulky, logistics and proximity to customers and raw-material sources are important contributors to delivered cost. Product formulations, processing know-how, quality controls, and technical services can provide differentiation beyond the underlying mineral content.
The supplied information identifies Douglas T. Dietrich as chairman and chief executive officer; he became CEO in December 2016 and chairman in March 2021. MTX had approximately 3,782 full-time employees and operations or commercial reach spanning 34 countries, supported by multiple research and development centers. The supplied trailing-twelve-month data shows approximately $2.33 billion in market capitalization, positive free cash flow, a current ratio above 1.0, and a debt-to-equity ratio of approximately 0.625. At the same time, the data indicates negative trailing earnings and profitability ratios, meaning current earnings performance has been pressured despite continued operating cash generation. Key strategic priorities for the company include improving operating margins, integrating innovation into customer processes, maintaining reliable mineral reserves and production capacity, managing energy and freight costs, reducing environmental impact, and generating sustainable returns through specialty products and disciplined capital allocation.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$2.1B
-2.2%
+0.3%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-18.4M
-111.0%
-607.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+24.4%
-3.3%
+1.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+13.9%
+2.8%
-418.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-0.9%
-111.3%
-605.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$86.6M
-41.0%
+297.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+4.2%
-39.7%
+296.7%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
61.0%
+4.1%
+11.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.08x
-26.8%
-32.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and welcome to the Minerals Technologies Second Quarter 2026 Earnings Conference Call. Please note this event is being recorded. I would now like to turn the conference over to Lydia Kopylova, Head of Investor Relations. Please go ahead.
Lydia Kopylova: Thank you, Dave. Good morning, everyone, and welcome to our second quarter 2026 earnings conference call. Today's call will be led by Chairman and Chief Executive Officer, Doug Dietrich; and Chief Financial Officer, Erik Aldag. Following Doug and Erik's prepared remarks, we'll open it up to questions. As a reminder, some of the statements made during this call may constitute forward-looking statements within the meaning of the federal securities laws. Please note the cautionary language about forward-looking statements contained in our earnings release and on the slide. Our SEC filings disclose certain risks and uncertainties, which may cause our actual results to differ materially from these forward-looking statements. Please also note that some of our comments today refer to non-GAAP financial measures. A reconciliation to GAAP financial measures can be found in our earnings release in the appendix of this presentation, which are posted on our website. Now I'll turn it over to Doug. Doug?
Douglas Dietrich: Thanks, Lydia. Good morning, everyone, and thanks for joining today. I'm going to kick us off with a review of our second quarter financials. Erik will then take you through the numbers in more detail and provide our outlook. And at the end of our presentation, I'll briefly share some of the highlights from our sustainability report, which we just published, and provide a preview of our upcoming Investor Day on September 22. After that, we'll open the call to questions. First, a quick overview of the quarter results. Sales were $548 million, up 4% over last year, with operating income of $75 million. Earnings per share were $1.60, up 3% from last year. We continue to be a strong cash generator with cash flow improving over last year, and our balance sheet is in great shape with our net leverage reducing to 1.6x EBITDA. Our top line momentum has continued, with sales growing 7% for the first half of the year. I'll highlight that this has been quality revenue growth driven by higher volumes from our new growth projects and from stronger end market conditions. Another highlight is that our Engineered Solutions segment delivered a particularly impressive performance this quarter, generating a record margin of 17.8% and a record quarterly income of $49 million. Both segments continue to be positioned for solid growth this year. with our strategic projects in each segment remaining on track. As a result, we have a clear line of sight to hitting our mid-single-digit growth guidance for the company for the full year. In our Consumer & Specialty segment, our cat litter sales have grown 9% through the first half of the year, driven by the introduction of new products, and this …