MINERALS TECHNOLOGIES INC
For the period ended Jun 30, 2024. Filed Jul 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 26, 2024
MTX$61.63-1.5%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Statements of Income
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| (in millions of dollars, except per share data) | Jun. 30, 2024 | Jul. 2, 2023 | Jun. 30, 2024 | Jul. 2, 2023 |
| Net sales | $541.2 | $551.5 | $1,075.7 | $1,097.6 |
| Cost of goods sold | 397.3 | 423.5 | 795.9 | 848.9 |
| Production margin | 143.9 | 128.0 | 279.8 | 248.7 |
| Marketing and administrative expenses | 53.3 | 51.8 | 106.3 | 104.1 |
| Research and development expenses | 5.8 | 5.6 | 11.4 | 10.9 |
| Provision for credit losses | 30.0 | — | 30.0 | — |
| Restructuring and other items, net | — | 6.6 | — | 6.6 |
| Acquisition-related expenses | — | 0.2 | — | 0.3 |
| Litigation expenses | 4.2 | 13.9 | 6.3 | 13.9 |
| Income from operations | 50.6 | 49.9 | 125.8 | 112.9 |
| Interest expense, net | (14.9) | (14.5) | (29.8) | (28.7) |
| Other non-operating deductions, net | (1.1) | (1.4) | (1.3) | (2.5) |
| Total non-operating deductions, net | (16.0) | (15.9) | (31.1) | (31.2) |
| Income before tax and equity in earnings | 34.6 | 34.0 | 94.7 | 81.7 |
| Provision for taxes on income | 15.6 | 7.5 | 29.5 | 18.0 |
| Equity in earnings of affiliates, net of tax | 1.9 | 1.1 | 3.3 | 2.0 |
| Net income | 20.9 | 27.6 | 68.5 | 65.7 |
| Less: | ||||
| Net income attributable to non-controlling interests | 1.2 | 1.0 | 2.1 | 2.1 |
| Net income attributable to Minerals Technologies Inc. | $19.7 | $26.6 | $66.4 | $63.6 |
| Earnings per share: | ||||
| Basic: | ||||
| Net income attributable to Minerals Technologies Inc. | $0.61 | $0.82 | $2.06 | $1.96 |
| Diluted: | ||||
| Net income attributable to Minerals Technologies Inc. | $0.61 | $0.82 | $2.05 | $1.96 |
| Cash dividends declared per common share | $0.10 | $0.05 | $0.20 | $0.10 |
| Shares used in computation of earnings per share: | ||||
| Basic | 32.2 | 32.5 | 32.3 | 32.5 |
| Diluted | 32.4 | 32.6 | 32.4 | 32.5 |
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