MTI(US:MTX) Newsfilterยท2025-04-24 21:00Core Insights - Minerals Technologies Inc. (MTI) reported a significant loss per share of $4.51 for Q1 2025, primarily due to a reserve established for its subsidiary BMI OldCo's Chapter 11 case. Excluding special items, earnings were $1.14 per share [1][4][21] - The company initiated a $10 million cost savings program, mainly through workforce reductions, with an expected full run rate by early 2026 [5][22] Financial Performance - Worldwide net sales for Q1 2025 were $492 million, down 8% year-over-year, impacted by softer demand and unfavorable foreign exchange effects [2][28] - Reported operating loss was $160 million, while operating income excluding special items was $63 million, representing 12.9% of sales [3][29] - Special items totaled $223 million, including a $215 million provision for talc-related claims and the Chapter 11 case [4][30] Segment Results - Consumer & Specialties segment sales were $268 million, down 10% from the prior year, with Household & Personal Care sales at $123 million (down 11%) and Specialty Additives at $145 million (down 8%) [6][7][28] - Engineered Solutions segment sales were $224 million, down 6% year-over-year, with High-Temperature Technologies at $169 million (down 4%) and Environmental & Infrastructure at $54 million (down 10%) [9][10][28] - Segment operating income for Consumer & Specialties was $30 million, while Engineered Solutions reported $34 million, both showing declines compared to the previous year [11][29] Cost Management and Future Outlook - The company recorded a charge of $5.5 million related to the cost savings program initiated in Q1 2025 [5][22] - Management expressed confidence in resolving liabilities through the Chapter 11 process and anticipates improved sales trends continuing into Q2 2025 [3][5]