earnings
confidence high
sentiment neutral
materiality 0.70
MTX Q3 2022 adj EPS $1.35 (+4% YoY), sales $542M up 15%; $31M talc litigation charge
MINERALS TECHNOLOGIES INC
2022-Q3 EPS reported
$3.11
revenue$1,617,900,000
- Reported diluted EPS $0.41; adjusted EPS of $1.35 excluding $38.7M in special items (litigation and debt extinguishment costs).
- Sales $541.9M, up 15% YoY (22% constant currency); operating income ex-special items $67.2M, up 6% YoY.
- Performance Materials sales +16% YoY; Specialty Minerals sales +13% but segment reported an operating loss due to $31.1M talc litigation reserve.
- Refractories sales +13% YoY with operating margin of 14.5%; returned $17M to shareholders via buybacks and dividends.
- Completed refinancing of credit facilities, extending maturities to 2027; recorded $6.9M debt extinguishment expense.