Minerals Technologies Q3 Net Income Falls to $42.7 Million as Operating Margin Narrows

Minerals Technologies Inc. (MTX) reported third-quarter net income attributable to the company of $42.7 million, or $1.37 per share, down slightly from $43.0 million, or $1.37 per share, a year earlier. Net sales rose 4% to $554.9 million from $532.4 million. Excluding special items, earnings per share were $1.53, compared with $1.55 in the prior-year quarter. Operating margin narrowed to 11.7% from 13.3%. Consumer & Specialties segment operating income fell 34% to $24.8 million, primarily on higher energy, transportation and raw material costs. Engineered Solutions operating income rose 9% to $48.7 million, supported by higher sales to steel and foundry customers and growth in environmental and infrastructure products.