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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Slight Beat* | $554.90 mln | $552.33 mln (4 Analysts) |
Q3 EPS, excluding special items | $1.37 | ||
Q3 Net Income | $43.80 mln |
*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
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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.)