MINERALS TECHNOLOGIES INC

Listed Company

MTXCIK 0000891014NYSELarge AcceleratedIndustrial Inorganic ChemicalsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.07B

Net Income

$-18.40M

Total Assets

$3.47B

Equity

$1.71B

Shares Out

31.05M

Op. Cash Flow

$193.70M

Business

Minerals Technologies Inc. is a technology-driven specialty minerals company that develops, produces and markets a broad range of mineral and mineral-based products, systems and services. Its main products and services include mineral-to-market household products (such as cat litter), specialty additives, precipitated and ground calcium carbonate, engineered mineral blends, refractory and application equipment, geosynthetic clay liners, water treatment and remediation technologies, and drilling fluids. The company operates two reportable segments: Consumer & Specialties and Engineered Solutions, with multiple product lines under each. It serves global consumer and industrial markets across paper and packaging, personal care, automotive, construction, steel, environmental and infrastructure channels, selling primarily through a worldwide direct sales force, technical service teams, regional distributors and satellite plant arrangements.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	2,073	2,119	2,170	2,126	1,858
Cost of goods sold	1,555	1,571	1,663	1,661	1,412
Production margin	518	548	507	465	447
Marketing and administrative expenses	208	209	206	192	186
Research and development expenses	23	23	21	20	20
Provision for litigation accrual and credit losses	215	30	0	—	—
Restructuring and other items	15	0	7	0	1
Impairment of assets	0	0	72	—	—
Acquisition-related expenses	0	0	300,000	5	4
Gain on sale of assets, net	−10	−12	0	0	—
Litigation expenses	20	11	29	—	—
Income from operations	47	287	172	215	236
Interest expense, net	−55	−56	−59	−44	—
Debt extinguishment expenses	0	−2	0	−7	0
Other non-operating deductions, net	−7	−5	−5	−4	6
Total non-operating deductions, net	−61	−63	−64	−58	−33
Income (loss) before tax and equity in earnings	−14	224	108	157	202
Provision for taxes on income	5	59	24	32	37
Equity in earnings of affiliates, net of tax	5	7	4	2	3
Net income (loss)	−14	171	88	126	169
Less: Net income attributable to non-controlling interests	4	4	4	4	4
Net income (loss) attributable to Minerals Technologies Inc. (MTI)	−18	167	84	122	164
Basic net income (loss) attributable to Minerals Technologies Inc. (in Dollars per share)	−0.59	5.21	2.59	3.74	4.89
Diluted net income (loss) attributable to Minerals Technologies Inc. (in Dollars per share)	−0.59	5.17	2.58	3.73	4.86
Cash dividends declared per common share (in Dollars per share)	0.45	0.41	0.25	0.2	0.2
Basic (in Shares)	31	32	33	33	34
Diluted (in Shares)	31	32	33	33	34

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	329	333	317	247	300
Short-term investments, at cost which approximates market	4	4	4	6	5
Accounts receivable	400	385	399	404	368
Inventories	350	342	325	349	298
Prepaid expenses	70	61	45	43	41
Other current assets	3	6	8	22	17
Total current assets	1,156	1,131	1,099	1,071	1,029
Property, plant, and equipment, less accumulated depreciation, and depletion	1,025	990	987	1,050	1,049
Goodwill	916	914	914	915	908
Intangible assets	209	218	231	242	252
Deferred income taxes	15	15	16	24	23
Other assets and deferred charges	149	127	100	100	115
Total assets	3,469	3,394	3,347	3,402	3,374
Short-term debt	400,000	5	85	120	80
Current maturities of long-term debt	6	7	18	15	800,000
Accounts payable	188	186	189	194	196
Income tax payable	8	27	14	10	0
Accrued compensation and related items	57	68	59	55	58
Other current liabilities	296	106	92	110	85
Total current liabilities	555	398	457	503	420
Long-term debt, net of unamortized discount and deferred financing costs	955	960	911	928	936
Deferred income taxes	91	131	139	180	188
Accrued pension and postretirement benefits	20	21	52	64	114
Other non-current liabilities	99	102	101	114	136
Total liabilities	1,719	1,611	1,660	1,788	1,795
Preferred stock, without par value; 1,000,000 shares authorized; none issued	0	0	0	0	0
Common stock, par value at $0.10 per share; 100,000,000 shares authorized; Issued 50,099,919 shares in 2025 and 49,993,737 shares in 2024	5	5	5	5	5
Additional paid-in capital	535	524	501	488	474
Retained earnings	2,482	2,515	2,361	2,285	2,169
Accumulated other comprehensive loss	−340	−387	−369	−367	−334
Less common stock held in treasury, at cost; 19,065,813 shares in 2025 and 18,098,082 shares in 2024	−968	−909	−845	−831	—
Total Minerals Technologies Inc. shareholders' equity	1,713	1,747	1,652	1,580	1,539
Non-controlling interests	36	36	35	34	40
Total shareholders' equity	1,750	1,783	1,687	1,613	1,580
Total liabilities and shareholders' equity	3,469	3,394	3,347	3,402	3,374

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion, and amortization	91	95	95	94	95
Loss (gain) on disposal of property, plant, and equipment	3	−12	2	−100,000	400,000
Deferred income taxes	−46	−8	−35	−17	2
Pension amortization and settlement loss	0	1	2	8	13
Provision for bad debts	4	1	3	4	900,000
Stock-based compensation	12	12	11	10	11
Reduction of right of use asset	16	14	14	13	12
Other non-cash items, net	−5	−7	−4	−2	−3
Accounts receivable	−5	5	2	−48	−7
Inventories	−2	−26	19	−66	−58
Pension plan funding	−9	−12	−10	−9	−11
Accounts payable	−2	2	−3	7	43
Restructuring liabilities	−3	−1	−3	−700,000	−1
Income taxes payable	−19	6	7	12	−6
Prepaid expenses and other	−58	−38	−33	−33	−27
Net cash provided by operating activities	194	236	234	106	232
Purchases of property, plant, and equipment	−107	−90	−94	−82	−86
Payments related to acquisition of business, net of cash acquired	0	−4	−2	−22	−194
Proceeds from sale of assets	7	12	200,000	1	700,000
Purchases of short-term investments	−14	−9	−18	−7	−9
Proceeds from sale of short-term investments	15	8	20	7	8
Other investing activities	−24	−13	1	2	2
Net cash used in investing activities	−123	−95	−92	−102	−279
Long-term debt issuance	0	575	0	550	0
Debt issuance costs	0	−7	0	−3	0
Repayment of long-term debt	−7	−534	−15	−552	−1
Repayment of short-term debt	−5	−80	−35	0	−21
Purchase of common stock for treasury	−59	−64	−14	−56	−75
Proceeds from issuance of stock under option plan	2	16	5	6	13
Tax withholding payments for stock-based compensation	−4	−3	−3	−3	−3
Dividends paid to non-controlling interests	−4	−1	−2	−8	−2
Cash dividends paid	−14	−13	−8	−7	−7
Net cash used in financing activities	−89	−110	−72	−34	6
Effect of exchange rate changes on cash and cash equivalents	14	−16	−200,000	−22	−28
Net increase (decrease) in cash and cash equivalents	−4	16	70	−52	−68
Property, plant, and equipment additions related to asset retirement obligations	0	7	0	0	—
Treasury stock purchases settled after period end	100,000	100,000	600,000	0	—
Excise tax charged to equity not paid	100,000	400,000	0	0	—

Filings

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