Minerals Technologies Q3 sales slightly beat estimates on steel, foundry demand

Overview

• Specialty minerals firm's Q3 sales grew 4% yr/yr, slightly beating analyst expectations

• Q3 adjusted EPS, excluding special items was $1.53, down from prior year

• Company raised quarterly dividend by 8%

Outlook

• Company expects mid-single-digit revenue growth for full-year 2026

• Company estimates new technologies could generate over $200 mln revenue over five years

• Minerals Technologies reaffirmed its long-term targets at September 2026 Investor Day

Result Drivers

• CAT LITTER AND PURIFICATION DEMAND - Co said higher North American cat litter volumes and growth in edible oil and renewable fuel purification boosted Household & Personal Care sales

• STEEL AND FOUNDRY SALES - Higher sales to steel and foundry customers drove growth in High-Temperature Technologies

• ENVIRONMENTAL PRODUCTS - Stronger sales for environmental lining, remediation, building materials and infrastructure drilling products lifted Environmental & Infrastructure sales

Company press release:

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialty chemicals peer group is "buy"

• Wall Street's median 12-month price target for Minerals Technologies Inc. is $90.00, about 45.6% above its October 29 closing price of $61.83

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads

• Oct 27 - PPG Q3 revenue beats analyst estimates, led by aerospace, Latam coatings

• Oct 29 - Quaker Chemical Q3 sales, adj profit beat estimates on higher prices

• Oct 29 - Germany's Wacker Chemie Q3 EBITDA nearly doubles on cost savings

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)