Minerals Technologies Q1 sales beat estimates

Overview

• US specialty minerals firm's Q1 sales rose 11% yr/yr, beating analyst expectations

• Company says growth driven by volume gains across both segments, with momentum expected to continue

Outlook

• Company expects sales momentum to continue through the year

Result Drivers

• HOUSEHOLD & PERSONAL CARE DEMAND - Growth in cat litter, animal health, fabric care, and purification for edible oil and renewable fuels drove Household & Personal Care sales

• SPECIALTY ADDITIVES SALES - Higher sales to paper and packaging customers supported Specialty Additives growth

• PROJECT ACTIVITY & WATER TREATMENT - Environmental & Infrastructure sales rose on large-scale project activity, infrastructure drilling, and offshore water treatment

Company press release: ID:nGNX6Vbrbn

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "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 $84.50, about 20% above its April 29 closing price of $70.41

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

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