MTI(US:MTX)2025-10-23 21:03Financial Performance - Earnings per share for Q3 2025 were $1.37, or $1.55 excluding special items, setting a record for the third quarter [2]. - Worldwide net sales for Q3 2025 were $532 million, up 1% sequentially and year over year [3]. - Operating income for Q3 2025 was $71 million, or $78 million excluding special items, down 1% sequentially and year over year [3]. - Total net income attributable to Minerals Technologies Inc. was $43 million, down 5% from the prior quarter [14]. - Net income attributable to MTI for Q3 2025 was $43.0 million, representing 8.1% of sales, compared to $45.4 million (8.6%) in Q2 2025 and $46.7 million (8.9%) in Q3 2024 [16]. - Adjusted EBITDA for Q3 2025 was $100.3 million, with a margin of 18.8%, compared to $99.1 million (18.7%) in Q2 2025 and $99.2 million (18.9%) in Q3 2024 [21]. - MTI Consolidated operating income for Q3 2025 was $70.9 million, reflecting a 5% decrease from Q2 2025 and a 7% decrease from Q3 2024 [25]. Cash Flow and Dividends - Cash flow from operations was $71 million, with free cash flow of $44 million in Q3 2025 [3]. - Free cash flow for Q3 2025 was $43.6 million, up from $33.8 million in Q2 2025 and $35.3 million in Q3 2024 [20]. - Cash dividends declared per common share were $0.11, consistent with the previous quarter [14]. Segment Performance - Consumer & Specialties segment sales were $277 million, flat sequentially, with Household & Personal Care product line sales increasing by 2% to $130 million [4]. - Engineered Solutions segment sales increased by 2% sequentially to $255 million, with Environmental & Infrastructure product line sales rising by 5% to $76 million [6]. - Segment operating income for Engineered Solutions was $45 million, with an operating margin of 17.6%, a record for the segment [7]. - Consumer & Specialties Segment operating income for Q3 2025 was $37.4 million, a 10% increase from Q2 2025 but a 10% decrease from Q3 2024 [25]. - Engineered Solutions Segment operating income for Q3 2025 was $44.8 million, a 4% decrease from Q2 2025 and a 15% increase from Q3 2024 [25]. - Non-GAAP operating income for Consumer & Specialties Segment was $37.4 million in Q3 2025, unchanged from Q2 2025 [26]. - MTI Consolidated non-GAAP operating income for the nine months ended September 28, 2025, was $220.6 million, a 9% decrease from the same period in 2024 [26]. Market Contribution - The U.S. market contributed $273.3 million (51% of total sales) in Q3 2025, while international sales were $259.1 million (49%), reflecting a 5% growth compared to Q2 2025 [23]. - The Household & Personal Care segment generated $129.8 million in Q3 2025, a 2% increase from $127.4 million in Q2 2025 [23]. Strategic Initiatives - The company is making strategic investments in Household & Personal Care to drive growth in the near- and long-term [4]. - The company initiated a cost savings program in Q1 2025, incurring a $5.5 million charge related to severance and other costs [19]. - The company recorded a $5.8 million charge in Q2 2025 for restructuring and other items related to the consolidation of two facilities [17]. Balance Sheet - Total current assets increased to $1,173.3 million as of September 28, 2025, compared to $1,131.0 million as of December 31, 2024 [28]. - Accounts receivable, net, rose to $413.4 million as of September 28, 2025, up from $385.2 million as of December 31, 2024 [28]. - Total liabilities increased to $1,749.3 million as of September 28, 2025, compared to $1,610.7 million as of December 31, 2024 [28]. - Total assets reached $3,458.8 million as of September 28, 2025, compared to $3,393.9 million as of December 31, 2024 [28]. Upcoming Events - The analyst conference call to discuss Q3 2025 operating results is scheduled for October 24, 2025 [22].