Minerals Technologies Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 02, 2023
July 28, 2023 at 02:31 am IST
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Minerals Technologies Inc. reported earnings results for the second quarter and six months ended July 02, 2023. For the second quarter, the company reported sales was USD 551.5 million compared to USD 557 million a year ago. Net income was USD 26.6 million compared to USD 44.9 million a year ago. Basic earnings per share from continuing operations was USD 0.82 compared to USD 1.37 a year ago. Diluted earnings per share from continuing operations was USD 0.82 compared to USD 1.36 a year ago.
For the six months, sales was USD 1,097.6 million compared to USD 1,076.1 million a year ago. Net income was USD 63.6 million compared to USD 89 million a year ago. Basic earnings per share from continuing operations was USD 1.96 compared to USD 2.7 a year ago. Diluted earnings per share from continuing operations was USD 1.96 compared to USD 2.69 a year ago.
Minerals Technologies Inc. is a technology-driven specialty minerals company that develops, produces, and markets a range of mineral and mineral-based products, related systems, and services. The Companyâs segments include Consumer & Specialties and Engineered Solutions. The Consumer & Specialties segment serves consumer end markets directly and provides mineral-based solutions and technologies for its customersâ products. The two product lines in this segment are Household & Personal Care and Specialty Additives. The Company's Engineered Solutions segment combines all engineered systems, mineral blends, and technologies that are designed to aid in customer processes and projects. The two product lines in this segment are High-Temperature Technologies and Environmental & Infrastructure. The Company serves globally a range of consumer and industrial markets, including household, food and pharmaceutical, paper, packaging, automotive, construction, and environmental.