Earnings ·
Minerals Technologies Inc. reported a second-quarter loss per share of $5.90, driven by a $290 million charge to…
MTXMinerals Technologies Inc
Minerals Technologies Inc. reported a second-quarter loss per share of $5.90, driven by a $290 million charge to increase reserves for talc-related litigation and subsidiary bankruptcy costs. Excluding special items, earnings per share were $1.60, up 3 percent year-over-year, while consolidated net sales rose 4 percent to $548 million. The company maintains an adjusted net leverage ratio of 1.6x and declared a quarterly cash dividend of $0.12 per share. Minerals Technologies Inc. operates in the specialty minerals industry, sourcing, manufacturing, and distributing mineral-based products for consumer and industrial markets.