10/25/2024 | Press release | Distributed by Public on 10/25/2024 12:58
Delaware
|
25-1190717
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
Title of each class
|
Trading Symbol
|
Name of exchange on which registered
|
Common Stock, $0.10 par value
|
MTX
|
New York Stock Exchange LLC
|
Yes☒
|
No ☐
|
Yes☒
|
No ☐
|
Large Accelerated Filer☒
|
Accelerated Filer ☐
|
Non-accelerated Filer ☐
|
Smaller Reporting Company ☐
|
Emerging Growth Company ☐
|
Yes ☐
|
No ☒
|
Page No.
|
||
PART I. FINANCIAL INFORMATION
|
||
Item 1.
|
Financial Statements:
|
|
Condensed Consolidated Statements of Income (Loss)for the three-month and nine-monthperiods ended September 29, 2024and October 1, 2023(Unaudited)
|
3
|
|
Condensed Consolidated Statements of Comprehensive Income (Loss)for the three-month and nine-monthperiods ended September 29, 2024and October 1, 2023(Unaudited)
|
4
|
|
Condensed Consolidated Balance Sheetsas of September 29, 2024(Unaudited) and December 31, 2023
|
5
|
|
Condensed Consolidated Statements of Cash Flowsfor the nine-month periods ended September 29, 2024and October 1, 2023(Unaudited)
|
6
|
|
Condensed Consolidated Statements of Changes in Shareholders' Equityfor the three-month periods ended September 29, 2024, June 30, 2024 and March 31, 2024 and October 1, 2023, July 2, 2023 and April 2, 2023 (Unaudited)
|
7
|
|
Notes to Condensed Consolidated Financial Statements (Unaudited)
|
9
|
|
Report of Independent Registered Public Accounting Firm
|
19
|
|
Item 2.
|
Management's Discussion and Analysis of Financial Condition and Results of Operations
|
20
|
Item 3.
|
Quantitative and Qualitative Disclosures about Market Risk
|
30
|
Item 4.
|
Controls and Procedures
|
30
|
PART II. OTHER INFORMATION
|
||
Item 1.
|
Legal Proceedings
|
30
|
Item 1A.
|
Risk Factors
|
30
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
31
|
Item 3.
|
Default Upon Senior Securities
|
31
|
Item 4.
|
Mine Safety Disclosures
|
31
|
Item 5.
|
Other Information
|
31
|
Item 6.
|
Exhibits
|
31
|
Signature
|
32
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars, except per share data)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Net sales
|
$
|
524.7
|
$
|
547.8
|
$
|
1,600.4
|
$
|
1,645.4
|
||||||||
Cost of goods sold
|
389.5
|
414.7
|
1,185.4
|
1,263.6
|
||||||||||||
Production margin
|
135.2
|
133.1
|
415.0
|
381.8
|
||||||||||||
Marketing and administrative expenses
|
50.1
|
50.9
|
156.4
|
155.0
|
||||||||||||
Research and development expenses
|
5.9
|
5.2
|
17.3
|
16.1
|
||||||||||||
Provision for credit losses
|
-
|
-
|
30.0
|
-
|
||||||||||||
Restructuring and other items, net
|
-
|
0.3
|
-
|
6.9
|
||||||||||||
Impairment of assets
|
-
|
71.7
|
-
|
71.7
|
||||||||||||
Acquisition-related expenses
|
-
|
-
|
-
|
0.3
|
||||||||||||
Litigation expenses
|
2.6
|
12.9
|
8.9
|
26.8
|
||||||||||||
Income (loss) from operations
|
76.6
|
(7.9
|
)
|
202.4
|
105.0
|
|||||||||||
Interest expense, net
|
(14.0
|
)
|
(15.3
|
)
|
(43.8
|
)
|
(44.0
|
)
|
||||||||
Other non-operating income (deductions), net
|
(3.1
|
)
|
0.6
|
(4.4
|
)
|
(1.9
|
)
|
|||||||||
Total non-operating deductions, net
|
(17.1
|
)
|
(14.7
|
)
|
(48.2
|
)
|
(45.9
|
)
|
||||||||
Income (loss) before tax and equity in earnings
|
59.5
|
(22.6
|
)
|
154.2
|
59.1
|
|||||||||||
Provision (benefit) for taxes on income
|
13.7
|
(3.5
|
)
|
43.2
|
14.5
|
|||||||||||
Equity in earnings of affiliates, net of tax
|
1.9
|
1.0
|
5.2
|
3.0
|
||||||||||||
Net income (loss)
|
47.7
|
(18.1
|
)
|
116.2
|
47.6
|
|||||||||||
Less:
|
||||||||||||||||
Net income attributable to non-controlling interests
|
1.0
|
1.1
|
3.1
|
3.2
|
||||||||||||
Net income (loss) attributable to Minerals Technologies Inc.
|
$
|
46.7
|
$
|
(19.2
|
)
|
$
|
113.1
|
$
|
44.4
|
|||||||
Earnings (loss) per share:
|
||||||||||||||||
Basic:
|
||||||||||||||||
Net income (loss) attributable to Minerals Technologies Inc.
|
$
|
1.45
|
$
|
(0.59
|
)
|
$
|
3.51
|
$
|
1.37
|
|||||||
Diluted:
|
||||||||||||||||
Net income (loss) attributable to Minerals Technologies Inc.
|
$
|
1.45
|
$
|
(0.59
|
)
|
$
|
3.49
|
$
|
1.36
|
|||||||
Cash dividends declared per common share
|
$
|
0.10
|
$
|
0.05
|
$
|
0.30
|
$
|
0.15
|
||||||||
Shares used in computation of earnings per share:
|
||||||||||||||||
Basic
|
32.1
|
32.5
|
32.2
|
32.5
|
||||||||||||
Diluted
|
32.3
|
32.5
|
32.4
|
32.6
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Net income (loss)
|
$
|
47.7
|
$
|
(18.1
|
)
|
$
|
116.2
|
$
|
47.6
|
|||||||
Other comprehensive income (loss), net of tax:
|
||||||||||||||||
Foreign currency translation adjustments
|
24.7
|
(22.1
|
)
|
(9.7
|
)
|
(38.2
|
)
|
|||||||||
Pension and postretirement plan adjustments
|
0.2
|
0.4
|
0.7
|
1.3
|
||||||||||||
Unrealized gains (losses) on derivative instruments
|
(2.1
|
)
|
0.7
|
(0.6
|
)
|
(1.2
|
)
|
|||||||||
Total other comprehensive income (loss), net of tax
|
22.8
|
(21.0
|
)
|
(9.6
|
)
|
(38.1
|
)
|
|||||||||
Total comprehensive income (loss) including non-controlling interests
|
70.5
|
(39.1
|
)
|
106.6
|
9.5
|
|||||||||||
Comprehensive (income) loss attributable to non-controlling interests
|
(4.6
|
)
|
0.5
|
(5.1
|
)
|
(0.8
|
)
|
|||||||||
Comprehensive income (loss) attributable to Minerals Technologies Inc.
|
$
|
65.9
|
$
|
(38.6
|
)
|
$
|
101.5
|
$
|
8.7
|
(in millions of dollars)
|
Sep. 29,
2024*
|
Dec. 31,
2023 **
|
||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
317.1
|
$
|
317.2
|
||||
Short-term investments
|
7.4
|
4.3
|
||||||
Accounts receivable, net
|
412.5
|
399.1
|
||||||
Inventories
|
342.2
|
325.4
|
||||||
Prepaid expenses and other current assets
|
61.6
|
53.0
|
||||||
Total current assets
|
1,140.8
|
1,099.0
|
||||||
Property, plant and equipment
|
2,250.5
|
2,190.1
|
||||||
Less accumulated depreciation and depletion
|
(1,256.8
|
)
|
(1,203.3
|
)
|
||||
Property, plant and equipment, net
|
993.7
|
986.8
|
||||||
Goodwill
|
914.3
|
913.6
|
||||||
Intangible assets
|
222.1
|
231.0
|
||||||
Deferred income taxes
|
17.8
|
16.0
|
||||||
Other assets and deferred charges
|
105.3
|
100.2
|
||||||
Total assets
|
$
|
3,394.0
|
$
|
3,346.6
|
||||
LIABILITIES AND SHAREHOLDERS' EQUITY
|
||||||||
Current liabilities:
|
||||||||
Short-term debt
|
$
|
60.0
|
$
|
85.4
|
||||
Current maturities of long-term debt
|
28.2
|
18.0
|
||||||
Accounts payable
|
189.8
|
188.7
|
||||||
Other current liabilities
|
186.0
|
165.2
|
||||||
Total current liabilities
|
464.0
|
457.3
|
||||||
Long-term debt, net of unamortized discount and deferred financing costs
|
894.7
|
911.1
|
||||||
Deferred income taxes
|
137.4
|
139.3
|
||||||
Accrued pension and post-retirement benefits
|
42.8
|
51.7
|
||||||
Other non-current liabilities
|
110.3
|
100.5
|
||||||
Total liabilities
|
1,649.2
|
1,659.9
|
||||||
Commitments and contingencies
|
||||||||
Shareholders' equity:
|
||||||||
Common stock
|
5.0
|
4.9
|
||||||
Additional paid-in capital
|
521.0
|
501.2
|
||||||
Retained earnings
|
2,464.0
|
2,360.6
|
||||||
Accumulated other comprehensive loss
|
(380.9
|
)
|
(369.4
|
)
|
||||
Less common stock held in treasury
|
(903.1
|
)
|
(845.3
|
)
|
||||
Total Minerals Technologies Inc. shareholders' equity
|
1,706.0
|
1,652.0
|
||||||
Non-controlling interests
|
38.8
|
34.7
|
||||||
Total shareholders' equity
|
1,744.8
|
1,686.7
|
||||||
Total liabilities and shareholders' equity
|
$
|
3,394.0
|
$
|
3,346.6
|
* |
Unaudited
|
** |
Condensed from audited financial statements
|
Nine Months Ended
|
||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||
Operating Activities:
|
||||||||
Net income
|
$
|
116.2
|
$
|
47.6
|
||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||
Depreciation, depletion and amortization
|
70.6
|
71.5
|
||||||
Impairment of assets
|
-
|
71.7
|
||||||
Reduction of right of use asset
|
10.6
|
10.6
|
||||||
Provision for credit losses
|
30.0
|
-
|
||||||
Pension funding
|
(11.3
|
)
|
(6.3
|
)
|
||||
Other non-cash items, net
|
0.8
|
(1.1
|
)
|
|||||
Net changes in operating assets and liabilities
|
(50.9
|
)
|
(55.7
|
)
|
||||
Net cash provided by operating activities
|
166.0
|
138.3
|
||||||
Investing Activities:
|
||||||||
Purchases of property, plant and equipment, net
|
(61.4
|
)
|
(71.0
|
)
|
||||
Payments related to acquisition of business, net of cash acquired
|
(4.0
|
)
|
(1.8
|
)
|
||||
Proceeds from sale of assets
|
-
|
0.2
|
||||||
Proceeds from sale of short-term investments
|
4.2
|
8.5
|
||||||
Purchases of short-term investments
|
(7.7
|
)
|
(12.0
|
)
|
||||
Other investing activities
|
(8.7
|
)
|
0.3
|
|||||
Net cash used in investing activities
|
(77.6
|
)
|
(75.8
|
)
|
||||
Financing Activities:
|
||||||||
Repayment of long-term debt
|
(7.2
|
)
|
(11.0
|
)
|
||||
Repayment of short-term debt
|
(25.4
|
)
|
(10.6
|
)
|
||||
Purchase of common stock for treasury
|
(57.4
|
)
|
-
|
|||||
Proceeds from issuance of stock under option plan
|
13.9
|
0.2
|
||||||
Excess tax benefits related to stock incentive programs
|
(2.8
|
)
|
(2.8
|
)
|
||||
Dividends paid to non-controlling interests
|
(1.0
|
)
|
(1.0
|
)
|
||||
Cash dividends paid
|
(9.7
|
)
|
(4.9
|
)
|
||||
Net cash used in financing activities
|
(89.6
|
)
|
(30.1
|
)
|
||||
Effect of exchange rate changes on cash and cash equivalents
|
1.1
|
(11.2
|
)
|
|||||
Net increase (decrease) in cash and cash equivalents
|
(0.1
|
)
|
21.2
|
|||||
Cash and cash equivalents at beginning of period
|
317.2
|
247.2
|
||||||
Cash and cash equivalents at end of period
|
$
|
317.1
|
$
|
268.4
|
||||
Supplemental disclosure of cash flow information:
|
||||||||
Interest paid
|
$
|
51.5
|
$
|
50.3
|
||||
Income taxes paid
|
$
|
49.8
|
$
|
38.1
|
||||
Non-cash investing and financing activities:
|
||||||||
Property, plant and equipment additions related to asset retirement obligations
|
$
|
7.0
|
$
|
-
|
||||
Treasury stock purchases settled after period end
|
$
|
0.2
|
$
|
-
|
||||
Excise tax charged to equity not paid
|
$
|
0.4
|
$
|
-
|
Equity Attributable to Minerals Technologies Inc.
|
||||||||||||||||||||||||||||
(millions of dollars)
|
Common
Stock
|
Additional
Paid-in
Capital
|
Retained
Earnings
|
Accumulated
Other
Comprehensive
Income (Loss)
|
Treasury
Stock
|
Non-controlling
Interests
|
Total
|
|||||||||||||||||||||
Balance as of December 31, 2023
|
$
|
4.9
|
$
|
501.2
|
$
|
2,360.6
|
$
|
(369.4
|
)
|
$
|
(845.3
|
)
|
$
|
34.7
|
$
|
1,686.7
|
||||||||||||
Net income
|
-
|
-
|
46.7
|
-
|
-
|
0.9
|
47.6
|
|||||||||||||||||||||
Other comprehensive loss, net
|
-
|
-
|
-
|
(21.9
|
)
|
-
|
(0.8
|
)
|
(22.7
|
)
|
||||||||||||||||||
Dividends declared
|
-
|
-
|
(3.2
|
)
|
-
|
-
|
-
|
(3.2
|
)
|
|||||||||||||||||||
Issuance of shares pursuant to employee stock compensation plans
|
0.1
|
2.3
|
-
|
-
|
-
|
-
|
2.4
|
|||||||||||||||||||||
Purchase of common stock for treasury
|
-
|
-
|
-
|
-
|
(15.0
|
)
|
-
|
(15.0
|
)
|
|||||||||||||||||||
Stock-based compensation
|
-
|
2.9
|
-
|
-
|
-
|
-
|
2.9
|
|||||||||||||||||||||
Conversion of RSU's for tax withholding
|
-
|
(2.8
|
)
|
-
|
-
|
-
|
-
|
(2.8
|
)
|
|||||||||||||||||||
Balance as of March 31, 2024
|
$
|
5.0
|
$
|
503.6
|
$
|
2,404.1
|
$
|
(391.3
|
)
|
$
|
(860.3
|
)
|
$
|
34.8
|
$
|
1,695.9
|
||||||||||||
Net income
|
-
|
-
|
19.7
|
-
|
-
|
1.2
|
20.9
|
|||||||||||||||||||||
Other comprehensive loss, net
|
-
|
-
|
-
|
(8.9
|
)
|
-
|
(0.7
|
)
|
(9.6
|
)
|
||||||||||||||||||
Dividends declared
|
-
|
-
|
(3.3
|
)
|
-
|
-
|
-
|
(3.3
|
)
|
|||||||||||||||||||
Dividends paid to non-controlling interests
|
-
|
-
|
-
|
-
|
-
|
(0.4
|
)
|
(0.4
|
)
|
|||||||||||||||||||
Issuance of shares pursuant to employee stock compensation plans
|
-
|
10.7
|
-
|
-
|
-
|
-
|
10.7
|
|||||||||||||||||||||
Purchase of common stock for treasury
|
-
|
-
|
-
|
-
|
(19.7
|
)
|
-
|
(19.7
|
)
|
|||||||||||||||||||
Stock-based compensation
|
-
|
3.0
|
-
|
-
|
-
|
-
|
3.0
|
|||||||||||||||||||||
Balance as of June 30, 2024
|
$
|
5.0
|
$
|
517.3
|
$
|
2,420.5
|
$
|
(400.2
|
)
|
$
|
(880.0
|
)
|
$
|
34.9
|
$
|
1,697.5
|
||||||||||||
Net income
|
-
|
-
|
46.7
|
-
|
-
|
1.0
|
47.7
|
|||||||||||||||||||||
Other comprehensive income, net
|
-
|
-
|
-
|
19.3
|
-
|
3.5
|
22.8
|
|||||||||||||||||||||
Dividends declared
|
-
|
-
|
(3.2
|
)
|
-
|
-
|
-
|
(3.2
|
)
|
|||||||||||||||||||
Dividends paid to non-controlling interests
|
-
|
-
|
-
|
-
|
-
|
(0.6
|
)
|
(0.6
|
)
|
|||||||||||||||||||
Issuance of shares pursuant to employee stock compensation plans
|
-
|
0.8
|
-
|
-
|
-
|
-
|
0.8
|
|||||||||||||||||||||
Purchase of common stock for treasury
|
-
|
-
|
-
|
-
|
(23.1
|
)
|
-
|
(23.1
|
)
|
|||||||||||||||||||
Stock-based compensation
|
-
|
2.9
|
-
|
-
|
-
|
-
|
2.9
|
|||||||||||||||||||||
Balance as of September 29, 2024
|
$
|
5.0
|
$
|
521.0
|
$
|
2,464.0
|
$
|
(380.9
|
)
|
$
|
(903.1
|
)
|
$
|
38.8
|
$
|
1,744.8
|
Equity Attributable to Minerals Technologies Inc.
|
||||||||||||||||||||||||||||
(millions of dollars)
|
Common
Stock
|
Additional
Paid-in
Capital
|
Retained
Earnings
|
Accumulated
Other
Comprehensive
Loss
|
Treasury
Stock
|
Non-controlling
Interests
|
Total
|
|||||||||||||||||||||
Balance as of December 31, 2022
|
$
|
4.9
|
$
|
487.6
|
$
|
2,284.6
|
$
|
(366.5
|
)
|
$
|
(831.1
|
)
|
$
|
33.7
|
$
|
1,613.2
|
||||||||||||
Net income
|
-
|
-
|
37.0
|
-
|
-
|
1.1
|
38.1
|
|||||||||||||||||||||
Other comprehensive income, net
|
-
|
-
|
-
|
7.7
|
-
|
0.4
|
8.1
|
|||||||||||||||||||||
Dividends declared
|
-
|
-
|
(1.6
|
)
|
-
|
-
|
-
|
(1.6
|
)
|
|||||||||||||||||||
Issuance of shares pursuant to employee stock compensation plans
|
-
|
0.2
|
-
|
-
|
-
|
-
|
0.2
|
|||||||||||||||||||||
Stock-based compensation
|
-
|
2.7
|
-
|
-
|
-
|
-
|
2.7
|
|||||||||||||||||||||
Conversion of RSU's for tax withholding
|
-
|
(2.7
|
)
|
-
|
-
|
-
|
-
|
(2.7
|
)
|
|||||||||||||||||||
Balance as of April 2, 2023
|
$
|
4.9
|
$
|
487.8
|
$
|
2,320.0
|
$
|
(358.8
|
)
|
$
|
(831.1
|
)
|
$
|
35.2
|
$
|
1,658.0
|
||||||||||||
Net income
|
-
|
-
|
26.6
|
-
|
-
|
1.0
|
27.6
|
|||||||||||||||||||||
Other comprehensive loss, net
|
-
|
-
|
-
|
(24.0
|
)
|
-
|
(1.2
|
)
|
(25.2
|
)
|
||||||||||||||||||
Dividends declared
|
-
|
-
|
(1.7
|
)
|
-
|
-
|
-
|
(1.7
|
)
|
|||||||||||||||||||
Stock-based compensation
|
-
|
2.8
|
-
|
-
|
-
|
-
|
2.8
|
|||||||||||||||||||||
Balance as of July 2, 2023
|
$
|
4.9
|
$
|
490.6
|
$
|
2,344.9
|
$
|
(382.8
|
)
|
$
|
(831.1
|
)
|
$
|
35.0
|
$
|
1,661.5
|
||||||||||||
Net income (loss)
|
-
|
-
|
(19.2
|
)
|
-
|
-
|
1.1
|
(18.1
|
)
|
|||||||||||||||||||
Other comprehensive loss, net
|
-
|
-
|
-
|
(19.4
|
)
|
-
|
(1.6
|
)
|
(21.0
|
)
|
||||||||||||||||||
Dividends declared
|
-
|
-
|
(1.6
|
)
|
-
|
-
|
-
|
(1.6
|
)
|
|||||||||||||||||||
Dividends paid to non-controlling interests
|
-
|
-
|
-
|
-
|
-
|
(1.0
|
)
|
(1.0
|
)
|
|||||||||||||||||||
Stock-based compensation
|
-
|
2.8
|
-
|
-
|
-
|
-
|
2.8
|
|||||||||||||||||||||
Balance as of October 1, 2023
|
$
|
4.9
|
$
|
493.4
|
$
|
2,324.1
|
$
|
(402.2
|
)
|
$
|
(831.1
|
)
|
$
|
33.5
|
$
|
1,622.6
|
-
|
The Consumer & Specialties segment serves consumer end markets directly and provides mineral-based solutions and technologies that are essential to our customers' products. The two product lines in this segment are Household & Personal Care - our mineral-to-shelf product line that serves pet care, personal and household care, fluid purification and other consumer oriented markets, and Specialty Additives, delivering specialty mineral additives to a variety of consumer and industrial end markets including paper, packaging, construction, automotive, and food and pharmaceuticals.
|
-
|
The Engineered Solutions segment combines all engineered systems, mineral blends, and technologies that are designed to aid in customer processes and projects. The twoproduct lines in this segment are High-Temperature Technologies - combining all of our mineral-based blends, technologies, and systems serving the foundry, steel, glass, aluminum and other high-temperature processing industries, and Environmental & Infrastructure, which includes environmental and remediation solutions such as geosynthetic clay lining systems, water remediation technologies as well as drilling, commercial building and infrastructure-related products.
|
(in millions of dollars)
|
Three Months Ended
|
Nine Months Ended
|
||||||||||||||
Net Sales
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Household & Personal Care
|
$
|
130.9
|
$
|
128.9
|
$
|
396.1
|
$
|
383.6
|
||||||||
Specialty Additives
|
149.4
|
162.3
|
465.4
|
495.2
|
||||||||||||
Consumer & Specialties Segment
|
280.3
|
291.2
|
861.5
|
878.8
|
||||||||||||
High-Temperature Technologies
|
174.8
|
177.4
|
536.8
|
538.6
|
||||||||||||
Environmental & Infrastructure
|
69.6
|
79.2
|
202.1
|
228.0
|
||||||||||||
Engineered Solutions Segment
|
244.4
|
256.6
|
738.9
|
766.6
|
||||||||||||
Total
|
$
|
524.7
|
$
|
547.8
|
$
|
1,600.4
|
$
|
1,645.4
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars, except per share data)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Net income (loss) attributable to Minerals Technologies Inc.
|
$
|
46.7
|
$
|
(19.2
|
)
|
$
|
113.1
|
$
|
44.4
|
|||||||
Weighted average shares outstanding
|
32.1
|
32.5
|
32.2
|
32.5
|
||||||||||||
Dilutive effect of stock options and deferred restricted stock units
|
0.2
|
-
|
0.2
|
0.1
|
||||||||||||
Weighted average shares outstanding, adjusted
|
32.3
|
32.5
|
32.4
|
32.6
|
||||||||||||
Basic earnings (loss) per share attributable to Minerals Technologies Inc.
|
$
|
1.45
|
$
|
(0.59
|
)
|
$
|
3.51
|
$
|
1.37
|
|||||||
Diluted earnings (loss) per share attributable to Minerals Technologies Inc.
|
$
|
1.45
|
$
|
(0.59
|
)
|
$
|
3.49
|
$
|
1.36
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Asset Write-Downs
|
||||||||||||||||
Consumer & Specialties
|
$
|
-
|
$
|
71.7
|
$
|
-
|
$
|
71.7
|
||||||||
Total asset write-down charges
|
$
|
-
|
$
|
71.7
|
$
|
-
|
$
|
71.7
|
||||||||
Severance and other costs
|
||||||||||||||||
Consumer & Specialties
|
$
|
-
|
$
|
0.3
|
$
|
-
|
$
|
0.9
|
||||||||
Engineered Solutions
|
-
|
-
|
-
|
3.2
|
||||||||||||
Corporate
|
-
|
-
|
-
|
2.8
|
||||||||||||
Total severance and other employee costs
|
$
|
-
|
$
|
0.3
|
$
|
-
|
$
|
6.9
|
||||||||
Total restructuring and other items, net
|
$
|
-
|
$
|
72.0
|
$
|
-
|
$
|
78.6
|
(in millions of dollars)
|
||||
Restructuring liability, December 31, 2023
|
$
|
3.8
|
||
Cash payments
|
(1.3
|
)
|
||
Restructuring liability, September 29, 2024
|
$
|
2.5
|
(in millions of dollars)
|
Sep. 29,
2024
|
Dec. 31,
2023
|
||||||
Raw materials
|
$
|
166.1
|
$
|
144.3
|
||||
Work-in-process
|
12.6
|
11.7
|
||||||
Finished goods
|
107.5
|
113.5
|
||||||
Packaging and supplies
|
56.0
|
55.9
|
||||||
Total inventories
|
$
|
342.2
|
$
|
325.4
|
Sep. 29, 2024
|
Dec. 31, 2023
|
|||||||||||||||||||
(in millions of dollars)
|
Weighted Average
Useful Life
(Years)
|
Gross
Carrying
Amount
|
Accumulated
Amortization
|
Gross
Carrying
Amount
|
Accumulated
Amortization
|
|||||||||||||||
Tradenames
|
34
|
$
|
221.4
|
$
|
62.8
|
$
|
221.5
|
$
|
59.1
|
|||||||||||
Technology
|
13
|
18.8
|
15.0
|
18.8
|
14.2
|
|||||||||||||||
Patents and trademarks
|
19
|
6.4
|
6.4
|
6.4
|
6.4
|
|||||||||||||||
Customer relationships
|
21
|
79.1
|
19.4
|
79.0
|
15.0
|
|||||||||||||||
29
|
$
|
325.7
|
$
|
103.6
|
$
|
325.7
|
$
|
94.7
|
●
|
Market approach - prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.
|
●
|
Cost approach - amount that would be required to replace the service capacity of an asset or replacement cost.
|
●
|
Income approach - techniques to convert future amounts to a single present amount based on market expectations, including present value techniques, option-pricing and other models.
|
(inmillions of dollars)
|
Sep. 29,
2024
|
Dec. 31,
2023
|
||||||
Secured Credit Agreement:
|
||||||||
Term Loan due 2027, net of unamortized deferred financing costs of $1.9million and $2.6million
|
$
|
524.0
|
$
|
530.4
|
||||
Senior Notes:
|
||||||||
5.00% due 2028, net of unamortized deferred financing costs of $3.4million and $4.1million
|
396.6
|
396.1
|
||||||
Other debt
|
2.3
|
2.6
|
||||||
Total
|
922.9
|
929.1
|
||||||
Less: Current maturities
|
28.2
|
18.0
|
||||||
Total long-term debt
|
$
|
894.7
|
$
|
911.1
|
Pension Benefits
|
||||||||||||||||
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Service cost
|
$
|
1.0
|
$
|
1.2
|
$
|
3.3
|
$
|
3.5
|
||||||||
Interest cost
|
4.0
|
4.0
|
12.0
|
11.9
|
||||||||||||
Expected return on plan assets
|
(5.0
|
)
|
(4.7
|
)
|
(14.9
|
)
|
(13.8
|
)
|
||||||||
Amortization:
|
||||||||||||||||
Prior service cost
|
-
|
-
|
-
|
0.1
|
||||||||||||
Recognized net actuarial loss
|
0.4
|
0.7
|
1.2
|
1.9
|
||||||||||||
Net periodic benefit cost
|
$
|
0.4
|
$
|
1.2
|
$
|
1.6
|
$
|
3.6
|
Post-Retirement Benefits
|
||||||||||||||||
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Service cost
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||
Interest cost
|
-
|
0.1
|
-
|
0.1
|
||||||||||||
Amortization:
|
||||||||||||||||
Recognized net actuarial gain
|
(0.1
|
)
|
(0.1
|
)
|
(0.3
|
)
|
(0.3
|
)
|
||||||||
Net periodic benefit cost
|
$
|
(0.1
|
)
|
$
|
-
|
$
|
(0.3
|
)
|
$
|
(0.2
|
)
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Amortization of pension items:
|
||||||||||||||||
Pre-tax amount
|
$
|
0.3
|
$
|
0.6
|
$
|
0.9
|
$
|
1.7
|
||||||||
Tax
|
(0.1
|
)
|
(0.2
|
)
|
(0.2
|
)
|
(0.4
|
)
|
||||||||
Net of tax
|
$
|
0.2
|
$
|
0.4
|
$
|
0.7
|
$
|
1.3
|
(in millions of dollars)
|
Foreign Currency
Translation Adjustment
|
Unrecognized
Pension Costs
|
Net Gain (Loss)
on Derivative Instruments
|
Total
|
||||||||||||
Balance as of December 31, 2023
|
$
|
(350.9
|
)
|
$
|
(28.8
|
)
|
$
|
10.3
|
$
|
(369.4
|
)
|
|||||
Other comprehensive income (loss) before reclassifications
|
(11.6
|
)
|
-
|
(0.6
|
)
|
(12.2
|
)
|
|||||||||
Amounts reclassified from AOCI
|
-
|
0.7
|
-
|
0.7
|
||||||||||||
Net current period other comprehensive income (loss)
|
(11.6
|
)
|
0.7
|
(0.6
|
)
|
(11.5
|
)
|
|||||||||
Balance as of September 29, 2024
|
$
|
(362.5
|
)
|
$
|
(28.1
|
)
|
$
|
9.7
|
$
|
(380.9
|
)
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(number of claims)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Claims pending, beginning of period
|
638
|
507
|
574
|
439
|
||||||||||||
Claims filed
|
39
|
60
|
118
|
181
|
||||||||||||
Claims dismissed, settled or otherwise resolved
|
14
|
5
|
29
|
58
|
||||||||||||
Claims pending, end of period
|
663
|
562
|
663
|
562
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Net Sales
|
||||||||||||||||
Consumer & Specialties
|
$
|
280.3
|
$
|
291.2
|
$
|
861.5
|
$
|
878.8
|
||||||||
Engineered Solutions
|
244.4
|
256.6
|
738.9
|
766.6
|
||||||||||||
Total
|
$
|
524.7
|
$
|
547.8
|
$
|
1,600.4
|
$
|
1,645.4
|
||||||||
Income (loss) from Operations
|
||||||||||||||||
Consumer & Specialties
|
$
|
41.7
|
$
|
(46.6
|
)
|
$
|
127.6
|
$
|
5.0
|
|||||||
Engineered Solutions
|
38.8
|
40.6
|
122.0
|
111.1
|
||||||||||||
Total
|
$
|
80.5
|
$
|
(6.0
|
)
|
$
|
249.6
|
$
|
116.1
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Income (loss) from operations for reportable segments
|
$
|
80.5
|
$
|
(6.0
|
)
|
$
|
249.6
|
$
|
116.1
|
|||||||
Provision for credit losses
|
-
|
-
|
(30.0
|
)
|
-
|
|||||||||||
Restructuring and other items, net
|
-
|
-
|
-
|
(2.8
|
)
|
|||||||||||
Acquisition-related expenses
|
-
|
-
|
-
|
(0.3
|
)
|
|||||||||||
Litigation expenses
|
(2.6
|
)
|
-
|
(8.9
|
)
|
-
|
||||||||||
Unallocated and other corporate expenses
|
(1.3
|
)
|
(1.9
|
)
|
(8.3
|
)
|
(8.0
|
)
|
||||||||
Consolidated income (loss) from operations
|
76.6
|
(7.9
|
)
|
202.4
|
105.0
|
|||||||||||
Non-operating deductions, net
|
(17.1
|
)
|
(14.7
|
)
|
(48.2
|
)
|
(45.9
|
)
|
||||||||
Income (loss) before tax and equity in earnings
|
$
|
59.5
|
$
|
(22.6
|
)
|
$
|
154.2
|
$
|
59.1
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
Sep. 29,
2024
|
Oct. 1,
2023
|
||||||||||||
Household & Personal Care
|
$
|
130.9
|
$
|
128.9
|
$
|
396.1
|
$
|
383.6
|
||||||||
Specialty Additives
|
149.4
|
162.3
|
465.4
|
495.2
|
||||||||||||
High-Temperature Technologies
|
174.8
|
177.4
|
536.8
|
538.6
|
||||||||||||
Environmental & Infrastructure
|
69.6
|
79.2
|
202.1
|
228.0
|
||||||||||||
Total
|
$
|
524.7
|
$
|
547.8
|
$
|
1,600.4
|
$
|
1,645.4
|
● |
Increase our presence and market share in global pet litter products, including in emerging markets.
|
● |
Deploy new products in pet care such as lightweight litter.
|
● |
Increase our sales of calcium carbonate products by further penetration into filling and coating applications in the paper and packaging markets.
|
● |
Promote the Company's expertise in crystal engineering by developing crystal morphologies that help our customers achieve functional benefits.
|
● |
Deploy new calcium carbonate products in paint, coating and packaging applications.
|
● |
Continue developing products and processes for waste management and recycling opportunities to reduce the environmental impact for our customers by reducing energy consumption and improving the sustainability of their products.
|
● |
Continue to develop innovative applications for our bleaching earth products for edible oil and biofuel industries.
|
● |
Develop new mineral-based solutions for personal care applications.
|
● |
Increase our presence and market share globally for retinol delivery technology for personal care applications.
|
● |
Expand our product solutions for animal health applications.
|
● |
Increase our presence and market share in fabric care, including in emerging markets.
|
● |
Increase our presence and gain penetration of our bentonite-based foundry solutions for the metalcasting industry in emerging markets.
|
● |
Deploy value-added formulations of refractory materials that not only reduce costs but improve performance.
|
● |
Deploy our laser measurement technologies into new applications.
|
● |
Expand our refractory maintenance model to other steel makers globally.
|
● |
Continue the development and market penetration of our FLUORO-SORB® products which address PFAS contamination in soil, groundwater, drinking water sources, landfill leachate and wastewater.
|
● |
Pursue opportunities for the expanded use of our products in environmental, building and construction, infrastructure and oil and gas drilling and water treatment globally.
|
● |
Increase our presence and market share for geosynthetic clay liners globally.
|
● |
Further operational excellence principles into all aspects of the organization, including system infrastructure and lean principles.
|
● |
Continue to explore selective acquisitions to fit our competencies in minerals and our core technologies.
|
Three Months Ended
|
||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
%
Change
|
|||||||||
Net sales
|
$
|
524.7
|
$
|
547.8
|
(4
|
)%
|
||||||
Cost of sales
|
389.5
|
414.7
|
(6
|
)%
|
||||||||
Production margin
|
135.2
|
133.1
|
2
|
%
|
||||||||
Production margin %
|
25.8
|
%
|
24.3
|
%
|
||||||||
Marketing and administrative expenses
|
50.1
|
50.9
|
(2
|
)%
|
||||||||
Research and development expenses
|
5.9
|
5.2
|
13
|
%
|
||||||||
Restructuring and other items, net
|
-
|
0.3
|
*
|
|||||||||
Impairment of assets
|
-
|
71.7
|
*
|
|||||||||
Litigation expenses
|
2.6
|
12.9
|
(80
|
)%
|
||||||||
Income (loss) from operations
|
76.6
|
(7.9
|
)
|
*
|
||||||||
Operating margin %
|
14.6
|
%
|
(1.4
|
)%
|
||||||||
Interest expense, net
|
(14.0
|
)
|
(15.3
|
)
|
(8
|
)%
|
||||||
Other non-operating income (deductions), net
|
(3.1
|
)
|
0.6
|
*
|
||||||||
Total non-operating deductions, net
|
(17.1
|
)
|
(14.7
|
)
|
16
|
%
|
||||||
Income (loss) before tax and equity in earnings
|
59.5
|
(22.6
|
)
|
*
|
||||||||
Provision (benefit) for taxes on income
|
13.7
|
(3.5
|
)
|
*
|
||||||||
Effective tax rate
|
23.0
|
%
|
15.5
|
%
|
||||||||
Equity in earnings of affiliates, net of tax
|
1.9
|
1.0
|
90
|
%
|
||||||||
Net income (loss)
|
47.7
|
(18.1
|
)
|
*
|
||||||||
Net income attributable to non-controlling interests
|
1.0
|
1.1
|
(9
|
)%
|
||||||||
Net income (loss) attributable to Minerals Technologies Inc.
|
$
|
46.7
|
$
|
(19.2
|
)
|
*
|
* |
Not meaningful
|
Three Months Ended
Sep. 29, 2024
|
Three Months Ended
Oct. 1, 2023
|
|||||||||||||||||||
(in millions of dollars)
|
Net Sales
|
% of Total Sales
|
% Change
|
Net Sales
|
% of Total Sales
|
|||||||||||||||
U.S.
|
$
|
268.3
|
51.1
|
%
|
(8
|
)%
|
$
|
291.6
|
53.2
|
%
|
||||||||||
International
|
256.4
|
48.9
|
%
|
0
|
%
|
256.2
|
46.8
|
%
|
||||||||||||
Total sales
|
$
|
524.7
|
100.0
|
%
|
(4
|
)%
|
$
|
547.8
|
100.0
|
%
|
||||||||||
Consumer & Specialties Segment
|
$
|
280.3
|
53.4
|
%
|
(4
|
)%
|
$
|
291.2
|
53.2
|
%
|
||||||||||
Engineered Solutions Segment
|
244.4
|
46.6
|
%
|
(5
|
)%
|
256.6
|
46.8
|
%
|
||||||||||||
Total sales
|
$
|
524.7
|
100.0
|
%
|
(4
|
)%
|
$
|
547.8
|
100.0
|
%
|
Three Months Ended
|
||||||||||||
Consumer & Specialties Segment
|
Sep. 29,
2024
|
Oct. 1,
2023
|
%
Change
|
|||||||||
(in millions of dollars)
|
||||||||||||
Net Sales
|
||||||||||||
Household & Personal Care
|
$
|
130.9
|
$
|
128.9
|
2
|
%
|
||||||
Special Additives
|
149.4
|
162.3
|
(8
|
)%
|
||||||||
Total net sales
|
$
|
280.3
|
$
|
291.2
|
(4
|
)%
|
||||||
Income (loss) from operations
|
$
|
41.7
|
$
|
(46.6
|
)
|
*
|
||||||
% of net sales
|
14.9
|
%
|
*
|
Three Months Ended
|
||||||||||||
Engineered Solutions Segment
|
Sep. 29,
2024
|
Oct. 1,
2023
|
%
Change
|
|||||||||
(in millions of dollars)
|
||||||||||||
Net Sales
|
||||||||||||
High-Temperature Technologies
|
$
|
174.8
|
$
|
177.4
|
(1
|
)%
|
||||||
Environmental & Infrastructure
|
69.6
|
79.2
|
(12
|
)%
|
||||||||
Total net sales
|
$
|
244.4
|
$
|
256.6
|
(5
|
)%
|
||||||
Income from operations
|
$
|
38.8
|
$
|
40.6
|
(4
|
)%
|
||||||
% of net sales
|
15.9
|
%
|
15.8
|
%
|
Nine Months Ended
|
||||||||||||
(in millions of dollars)
|
Sep. 29,
2024
|
Oct. 1,
2023
|
%
Change
|
|||||||||
Net sales
|
$
|
1,600.4
|
$
|
1,645.4
|
(3
|
)%
|
||||||
Cost of sales
|
1,185.4
|
1,263.6
|
(6
|
)%
|
||||||||
Production margin
|
415.0
|
381.8
|
9
|
%
|
||||||||
Production margin %
|
25.9
|
%
|
23.2
|
%
|
||||||||
Marketing and administrative expenses
|
156.4
|
155.0
|
1
|
%
|
||||||||
Research and development expenses
|
17.3
|
16.1
|
7
|
%
|
||||||||
Provision for credit losses
|
30.0
|
-
|
*
|
|||||||||
Restructuring and other items, net
|
-
|
6.9
|
*
|
|||||||||
Impairment of assets
|
-
|
71.7
|
*
|
|||||||||
Acquisition-related expenses
|
-
|
0.3
|
*
|
|||||||||
Litigation expenses
|
8.9
|
26.8
|
(67
|
)%
|
||||||||
Income from operations
|
202.4
|
105.0
|
93
|
%
|
||||||||
Operating margin %
|
12.6
|
%
|
6.4
|
%
|
||||||||
Interest expense, net
|
(43.8
|
)
|
(44.0
|
)
|
-
|
|||||||
Other non-operating deductions, net
|
(4.4
|
)
|
(1.9
|
)
|
132
|
%
|
||||||
Total non-operating deductions, net
|
(48.2
|
)
|
(45.9
|
)
|
5
|
%
|
||||||
Income before tax and equity in earnings
|
154.2
|
59.1
|
161
|
%
|
||||||||
Provision for taxes on income
|
43.2
|
14.5
|
198
|
%
|
||||||||
Effective tax rate
|
28.0
|
%
|
24.5
|
%
|
||||||||
Equity in earnings of affiliates, net of tax
|
5.2
|
3.0
|
73
|
%
|
||||||||
Consolidated net income
|
116.2
|
47.6
|
144
|
%
|
||||||||
Net income attributable to non-controlling interests
|
3.1
|
3.2
|
(3
|
)%
|
||||||||
Net income attributable to Minerals Technologies Inc.
|
$
|
113.1
|
$
|
44.4
|
155
|
%
|
* |
Not meaningful
|
Nine Months Ended
Sep. 29, 2024
|
Nine Months Ended
Oct. 1, 2023
|
|||||||||||||||||||
(in millions of dollars)
|
Net Sales
|
% of Total Sales
|
% Growth
|
Net Sales
|
% of Total Sales
|
|||||||||||||||
U.S.
|
$
|
824.7
|
51.5
|
%
|
(6
|
)%
|
$
|
874.3
|
53.1
|
%
|
||||||||||
International
|
775.7
|
48.5
|
%
|
1
|
%
|
771.1
|
46.9
|
%
|
||||||||||||
Total sales
|
$
|
1,600.4
|
100.0
|
%
|
(3
|
)%
|
$
|
1,645.4
|
100.0
|
%
|
||||||||||
Consumer & Specialties Segment
|
$
|
861.5
|
53.8
|
%
|
(2
|
)%
|
$
|
878.8
|
53.4
|
%
|
||||||||||
Engineered Solutions Segment
|
738.9
|
46.2
|
%
|
(4
|
)%
|
766.6
|
46.6
|
%
|
||||||||||||
Total sales
|
$
|
1,600.4
|
100.0
|
%
|
(3
|
)%
|
$
|
1,645.4
|
100.0
|
%
|
Nine Months Ended
|
||||||||||||
Consumer & Specialties Segment
|
Sep. 29,
2024
|
Oct. 1,
2023
|
%
Change
|
|||||||||
(in millions of dollars)
|
||||||||||||
Net Sales
|
||||||||||||
Household & Personal Care
|
$
|
396.1
|
$
|
383.6
|
3
|
%
|
||||||
Specialty Additives
|
465.4
|
495.2
|
(6
|
)%
|
||||||||
Total net sales
|
$
|
861.5
|
$
|
878.8
|
(2
|
)%
|
||||||
Income from operations
|
$
|
127.6
|
$
|
5.0
|
*
|
|||||||
% of net sales
|
14.8
|
%
|
0.6
|
%
|
Nine Months Ended
|
||||||||||||
Engineered Solutions Segment
|
Sep. 29,
2024
|
Oct. 1,
2023
|
%
Change
|
|||||||||
(in millions of dollars)
|
||||||||||||
Net Sales
|
||||||||||||
High-Temperature Technologies
|
$
|
536.8
|
$
|
538.6
|
-
|
|||||||
Environmental & Infrastructure
|
202.1
|
228.0
|
(11
|
)%
|
||||||||
Total net sales
|
$
|
738.9
|
$
|
766.6
|
(4
|
)%
|
||||||
Income from operations
|
$
|
122.0
|
$
|
111.1
|
10
|
%
|
||||||
% of net sales
|
16.5
|
%
|
14.5
|
%
|
Total
Number
of Shares
Purchased
|
Average
Price Paid
Per Share
|
Total Number of
Shares Purchased as
Part of the Publicly
Announced Program
|
Dollar Value of
Shares that May
Yet be Purchased
Under the Program
|
|||||||||||||
July 1 - July 28
|
71,400
|
$
|
84.82
|
763,822
|
$
|
20,141,317
|
||||||||||
July 29 - August 25
|
132,100
|
$
|
73.92
|
895,922
|
$
|
10,376,089
|
||||||||||
August 26 - September 29
|
94,588
|
$
|
73.93
|
990,510
|
$
|
3,383,547
|
||||||||||
Total
|
298,088
|
$
|
76.53
|
Exhibit No.
|
Exhibit Title
|
|
15
|
Letter Regarding Unaudited Interim Financial Information.
|
|
31.1
|
Rule 13a-14(a)/15d-14(a) Certification executed by the Company's principal executive officer.
|
|
31.2
|
Rule 13a-14(a)/15d-14(a) Certification executed by the Company's principal financial officer.
|
|
32
|
Section 1350 Certifications.
|
|
95
|
Information concerning Mine Safety Violations
|
|
99
|
Risk Factors
|
|
101.INS
|
XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
|
|
101.SCH
|
Inline XBRL Taxonomy Extension Schema
|
|
101.CAL
|
Inline XBRL Taxonomy Extension Calculation Linkbase
|
|
101.DEF
|
Inline XBRL Taxonomy Extension Definition Linkbase
|
|
101.LAB
|
Inline XBRL Taxonomy Extension Label Linkbase
|
|
101.PRE
|
Inline XBRL Taxonomy Extension Presentation Linkbase
|
|
104
|
Cover Page Interactive Data File (formatted as inline XBRL and contain in Exhibit 101).
|
Minerals Technologies Inc.
|
||
By:
|
/s/ Erik C. Aldag
|
|
Erik C. Aldag
|
||
Senior Vice President, Finance and Treasury,
|
||
Chief Financial Officer
|
||
October 25, 2024
|