Minerals Technologies : MTX Q1 2026 Analyst Call Presentation

Published: 2026-05-01 10:45:09 ET MTX

Published on 05/01/2026 at 10:45 am EDT

FIRST QUARTER 2026 EARNINGS CONFERENCE CALL

May 1, 2026

Chairman and Chief Executive Officer

First Quarter 2026 Overview

Strong sales performance in both segments:

- +11% YoY in Consumer & Specialties, including +16% YoY in Household & Personal Care

- +12% YoY in Engineered Solutions, including +24% YoY in Environmental & Infrastructure

Ramping up sales from 2025 growth investments

Significant YoY improvement in cash flow

Adapting to a rapidly changing environment through disciplined cost control and pricing actions

$547M

Sales

+11%

vs. Prior Year

$1.38

$68M

Operating Income

+7%

vs. Prior Year

Earnings per Share

+21%

vs. Prior Year

Operating income and earnings per share exclude special items 4

Update on 2026 Outlook

Impact from Middle East events Market outlook and growth initiatives

Small presence in the region

No lost sales or business interruptions to date

Experiencing higher freight and energy costs

Implementing pricing actions to maintain margins

Minimal supply chain impacts

Structurally well-positioned to supply locally around the world

Cat litter expansions on track and ramping up

Consumer & Specialties

Strong pull for our natural oil purification products, expansion on track

Animal health and fabric care projects on track

Ramping up paper & packaging satellites

Residential construction remains weak

Engineered Solutions

Minscan® installations on track; strong steel market in N. America, softer in Europe

Stable demand in N. America foundry, strong volumes in Asia

Stronger demand for environmental solutions and infrastructure projects; commercial construction remains weak

10+ new Fluoro-Sorb® implementations in H2

No major end market changes due to conflict; longer term uncertain

Navigating cost impacts with pricing and operational adjustments

On track for $100M annualized sales from growth projects

Starting to see signs of improvement in some end markets

Senior Vice President, Finance and Treasury and Chief Financial Officer

First Quarter 2026 Financial Summary

First Quarter 2026 versus Prior Quarter ($M)

Sales

First Quarter 2026 versus Prior Year ($M)

Sales

+5%

+ 12

+ 5

547

520

+ 10

+11%

+ 14

+ 13

547

492

+ 19

+ 9

Q4 '25

H&PC Spec Adds

HTT

Env & Inf Q1 '26

Q1 '25

H&PC Spec Adds

HTT

Env & Inf Q1 '26

Consumer & Specialties

Engineered Solutions

Consumer & Specialties

Engineered Solutions

Operating Income

+ 4

(1)

(2)

+2%

Operating Income

Q4 '25

12.8%

Consumer & Specialties

Engineered Solutions

Corporate Unallocated Expenses

Q1 '26

12.3%

Q1 '25

(3)

+7%

+ 3

+ 5

12.9%

Consumer & Specialties

Engineered Solutions

Corporate Unallocated Expenses

Q1 '26

12.3%

Operating Margin Operating Margin

Operating income and operating margin exclude special items 7

CONSUMER & SPECIALTIES SEGMENT

Financial Performance

+11%

Sales Performance

$268M $274M $297M

Q1 '25 Q4 '25 Q1 '26

+8%

Continued strong momentum in Household & Personal Care; up 16% YoY

Cat litter sales up 19%

Edible oil and renewable fuel purification sales up 14%

Animal health sales up 9%

Fabric care sales up 13%

Specialty Additives sales up 6% YoY

Higher paper & packaging volumes

Soft residential construction market

$30M $29M

$33M

Operating Performance

Operating margin up 40 basis points sequentially

Q1 '25 Q4 '25 Q1 '26

Household & Personal Care: Similarly strong sales, up high-single digits YoY

Specialty Additives: Similar sales sequentially and YoY

Operating income and operating margin exclude special items 8

ENGINEERED SOLUTIONS SEGMENT

Financial Performance

+12%

Sales Performance

$224M $245M $250M

Q1 '25 Q4 '25 Q1 '26

+14%

$40M $39M

High-Temperature Technologies sales up 8% YoY

Continued strong demand in N. America steel

Asia foundry growth offset by N. America market softness

Environmental & Infrastructure sales up 24% YoY

Infrastructure drilling demand remains strong, up 46%

Stronger start in large-scale project activity

Improved demand for offshore water treatment services

Operating Performance

Strong operating margin at 15.7% of sales, up 30 basis points YoY

$34M

Q1 '25 Q4 '25 Q1 '26

High-Temperature Technologies: Sales up mid-single digits YoY

Environmental & Infrastructure: Seasonally stronger sales, and up 10% YoY

Operating income and operating margin exclude special items 9

Q1 '26

YoY

Cash Flow from Operations

$32M

+$37M

Capital Expenditures

$23M

+$5M

Free Cash Flow

$9M

+$32M

Balance Sheet and Capital Deployment

Cash, Cash Equivalents, and Short-Term Investments

Total Liquidity $706M

Available Revolver

Net Debt

-4%

$674M $645M

Q1 '26

$321M

$385M

EBITDA excludes special items

1.7X

EBITDA

Net Leverage Ratio

Q1 '25 Q1 '26

Second Quarter Outlook

Sales

Operating Income

EPS

Continued growth in cat litter and natural oil purification - expansion ramping up

Residential construction remains relatively soft

Continued growth in N. America refractories, Asia foundry, and improved environmental and infrastructure project activity

MINERALS

IF TECHNOLOGIES

Innovative Technologies.

Essential Solutions.TM

Appendix

The information set forth in the Analyst Presentation presents financial measures of the Company that exclude certain special items, and are

therefore not in accordance with GAAP. The following is a presentation of the Company's non-GAAP net income, operating income and EBITDA, excluding special items, and free cash flow for the quarterly periods ended April 5, 2026 and March 30, 2025, and a reconciliation to GAAP net income (loss), operating income and EBITDA, and cash flow from operations, respectively, for such periods. The Company's management believes these non-GAAP measures provide meaningful supplemental information regarding its performance as inclusion of such special items are not indicative of the ongoing operating results and thereby affect the comparability of results between periods. The Company feels inclusion of these non-GAAP measures also provides consistency in its financial reporting and facilitates investors' understanding of historic operating trends.

(millions of dollars, except per share data)

Quarter Ended

Apr. 5,

2026

Mar. 30,

2025

Net income (loss) attributable to MTI

$ 36.2

$ (144.0)

% of sales

6.6%

Special items:

Provision for litigation accrual and credit losses

0.0

215.0

Restructuring and other items

0.0

5.5

Litigation expenses

8.8

2.8

Related tax effects on special items

(2.2)

(42.9)

Net income attributable to MTI, excluding special items

Diluted earnings per share, excluding special items

* Percentage not meaningful

% of sales

$ 42.8

7.8%

$ 1.38

$ 36.4

7.4%

$ 1.14

Reconciliation

Net Income and Diluted EPS Excluding Special Items

(millions of dollars)

Quarter Ended

Apr. 5, Mar. 30,

2026 2025

Reconciliation

Segment Operating Income Excluding Special Items

Segment Operating Income (Loss)

Consumer & Specialties Segment

$ 32.5

$ 27.5

Engineered Solutions Segment

39.3

33.6

Unallocated and Other Corporate Expenses

(13.1)

(221.2)

MTI Consolidated

$ 58.7

$ (160.1)

Special Items

Consumer & Specialties Segment

$ 0.0

$ 2.5

Engineered Solutions Segment

0.0

0.8

Unallocated and Other Corporate Expenses

8.8

220.0

MTI Consolidated

$ 8.8

$ 223.3

Segment Operating Income, Excluding Special Items Consumer & Specialties Segment

Engineered Solutions Segment

Unallocated Corporate Expenses and Other MTI Consolidated

% of sales

$ 32.5

39.3

(4.3)

$ 67.5

12.3%

$ 30.0

34.4

(1.2)

$ 63.2

12.9%

(millions of dollars)

Quarter Ended

Apr. 5, Mar. 30,

2026 2025

Reconciliation

Free Cash Flow

Cash flow from operations

Capital expenditures Free cash flow

$ 32.1

23.1

$ 9.0

$ (4.4)

18.3

$ (22.7)

Disclaimer

Minerals Technologies Inc. published this content on May 01, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 01, 2026 at 14:44 UTC.