Minerals Technologies Q1 Revenue Up 11% to $547M, Adjusted EPS $1.38
MTX•Minerals Technologies reported first-quarter revenue of $547 million, up 11% year-over-year, with GAAP profit of $36.2 million and adjusted EPS of $1.38, a 21% increase. Operating income rose to $68 million excluding special items, while Consumer & Specialties sales grew 11% and Engineered Solutions sales increased 12%.
1. Q1 Financial Highlights
Minerals Technologies posted first-quarter net sales of $547 million, up 11% year-over-year, with net profit of $36.2 million. GAAP earnings per share were $1.17, while adjusted EPS rose 21% to $1.38 excluding special items.
2. Segment Performance
The Consumer & Specialties segment delivered $297 million in sales, an 11% increase over the prior year and 8% sequential gain. Engineered Solutions sales reached $250 million, up 12% year-over-year and 2% quarter-over-quarter.
3. Operating Income and Margins
Reported operating income was $59 million, increasing to $68 million after adjusting for special items. Reported operating margin stood at 10.7% of sales, improving to 12.3% on an adjusted basis.
4. Outlook and Drivers
Management cited strength from its innovation pipeline and recent growth investments, along with swift actions to offset higher global energy costs. The company expects continued momentum in the second quarter.
