Minerals Technologies Reports Second Quarter FY2023 Earnings Results on July 27, 2023
August 10, 2023
🌥️Earnings Overview
Minerals Technologies ($NYSE:MTX) reported a total revenue of USD 551.5 million for the second quarter of FY2023, ending June 30 2023, a decrease of 1.0% compared to the same period of the previous year, when the company released its earnings results on July 27 2023. Net income, however, plummeted 40.8% to USD 26.6 million year over year.
Stock Price
The company’s stock opened at $58.8 and closed at $59.3, representing a 0.7% increase from the previous closing price of $58.8. This positive performance was driven by strong sales growth during the quarter, as well as the company’s focus on cost efficiencies and product innovation. Overall, Minerals Technologies reported strong financial performance in the second quarter of FY2023.
The company’s strategic investments in product innovation and cost efficiencies have allowed it to remain competitive in the marketplace and capitalize on opportunities for growth. Going forward, Minerals Technologies is poised for continued success in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Minerals Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 2.15k | 96.8 | 6.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Minerals Technologies. More…
| Operations | Investing | Financing |
| 59.7 | -109.4 | -31.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Minerals Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.41k | 1.75k | 49.98 |
Key Ratios Snapshot
Some of the financial key ratios for Minerals Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.9% | 4.9% | 8.3% |
| FCF Margin | ROE | ROA |
| -0.8% | 6.9% | 3.3% |
Analysis
As GoodWhale has analyzed Minerals Technologies’s fundamentals, it is classified as a ‘cow’ – a type of company that has a track record of paying out consistent and sustainable dividends. The Star Chart also indicates that Minerals Technology is strong in dividend, medium in asset, profitability and weak in growth. Therefore, the company is most likely of interest to investors who are looking for a steady and secure income and are more interested in dividend income rather than rapid capital gains. GoodWhale has also assessed Minerals Technology’s financial health and awarded them a score of 8/10. This is an indication that the company is capable to sustain future operations in times of crisis, as long as its cash flow and debt levels remain at healthy levels. With the above analysis, GoodWhale concludes that Minerals Technologies is a good option for investors seeking a reliable source of income with low risk. More…
Peers
The company’s products are used in a variety of industries including building & construction, transportation, ceramics & glass, and more. The company has a wide range of competitors including Cabot Corp, Borregaard ASA, and Koppers Holdings Inc.
– Cabot Corp ($NYSE:CBT)
Cabot Corporation is a leading global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company operates in five segments: Carbon Black, Reinforcement Materials, Specialty Fluids, Purification Solutions, and Performance Chemicals. Cabot’s products are used in a variety of applications, including tires, plastics, textiles, inks, coatings, and adhesives. The company has approximately 3,700 employees and operates in more than 30 countries.
As of 2022, Cabot Corporation had a market capitalization of 4.15 billion dollars. The company’s return on equity was 27.26%. Cabot Corporation is a leading global specialty chemicals and performance materials company. The company’s products are used in a variety of applications, including tires, plastics, textiles, inks, coatings, and adhesives. Cabot Corporation has approximately 3,700 employees and operates in more than 30 countries.
– Borregaard ASA ($OTCPK:BRRDF)
Borregaard ASA is a Norwegian chemical company. The company produces chemicals and bio-based products derived from wood. Its products are used in a variety of industries, including paper, food and beverage, construction, textiles, and cosmetics. The company has a market cap of 1.42B as of 2022 and a return on equity of 17.66%.
– Koppers Holdings Inc ($NYSE:KOP)
Koppers Holdings Inc is a chemical and wood products company with a market cap of 591.83M as of 2022. The company has a Return on Equity of 26.29%. Koppers Holdings Inc produces a variety of treated wood products, chemicals, and coke. The company’s products are used in a variety of applications, including the construction, transportation, and industrial sectors.
Summary
Minerals Technologies reported total revenue of USD 551.5 million and net income of USD 26.6 million for the second quarter of FY2023, ending June 30 2023. This represents a year-over-year decrease of 1.0% and 40.8%, respectively. Although the company’s financial results suggest a decrease in earnings, investors should consider that Minerals Technologies has a strong market presence and long track record of success. Going forward, investors should consider the possibility of an increase in profits from developing new technologies and expanding its current market share.
Additionally, the company is continually investing in research and development to boost its competitiveness in the industry. Overall, investing in Minerals Technologies may be a worthwhile endeavor.
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