Minerals Technologies Q2 revenue came in-line with estimates as demand rebounds

Overview

• Minerals Technologies Q2 revenue up 8% sequentially, largely in-line with analyst expectations

• Q2 Adjusted EPS of the specialty minerals firm rises 36% sequentially to $1.55

• Company highlights strong cash flow and releases 17th annual sustainability report

Outlook

• Company expects stronger second half driven by growth initiatives

• Minerals Technologies sees continued sales momentum into second half

• Minerals Technologies foresees stronger performance in upcoming quarters

Result Drivers

• DEMAND REBOUND - MTI's net sales rose 8% sequentially due to a significant rebound in demand across all product lines

• CONSUMER & SPECIALTIES GROWTH - Sales in this segment increased 4% sequentially, driven by improved customer order stability and higher residential construction activity

• ENGINEERED SOLUTIONS GROWTH - Sales in the Engineered Solutions segment rose 12% sequentially, driven by stronger demand from steel and foundry customers and seasonal project activity

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 $80.00, about 26% above its July 24 closing price of $59.20

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nGNX1fQMx9