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October 27, 2025 • 3 min read
Minerals Technologies Inc. (MTX), a global provider of specialty mineral-based products, recently released its financial results for the third quarter of 2025. In this post, we'll dive into the numbers from their latest 10-Q filing to understand the company's performance, exploring how its different business lines are faring and what's impacting the bottom line.
For the three months ending September 28, 2025, MTX reported a slight revenue increase, but profitability saw a downturn. Let's break down the flow from sales to profit.
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Total revenue for the quarter came in at $532.4 million, a modest 1% increase from the $524.7 million reported in the same period last year. However, this top-line growth didn't translate into higher profits. The cost of goods sold rose by 2% to $395.4 million, outpacing sales growth and putting pressure on margins.
More significantly, operating expenses climbed, driven by a 6% increase in marketing and administrative costs and a sharp rise in litigation expenses, which jumped to $7.5 million from just $2.6 million a year ago. As a result, operating income fell 7% to $70.9 million. This ultimately led to an 8% decrease in net income attributable to shareholders, which landed at $43.0 million, or $1.37 per share.
The overall numbers mask a diverging performance between the company's two main business segments.
The Engineered Solutions segment was the quarter's standout performer. This division, which provides advanced mineral technologies for industrial processes like steel manufacturing, metalcasting, and environmental projects, saw its revenue grow by 4% to $255.0 million. More impressively, its operating income surged by 15% to $44.8 million, boosting its operating margin to 17.6% from 15.9% in the prior year. This strong result highlights healthy demand in the industrial and infrastructure markets it serves.
On the other hand, the Consumer & Specialties segment faced headwinds. This segment, which includes products for pet care (like cat litter), personal care, specialty paper, and packaging, saw its revenue dip 1% to $277.4 million. The impact on profitability was more pronounced, with operating income falling 10% to $37.4 million. The company attributed this decline to "higher operating costs primarily through unfavorable volume leverage and product mix."
Minerals Technologies delivered a mixed quarter, with the strength in its industrial-focused Engineered Solutions segment helping to balance the softness in its consumer-facing business. While revenue held steady, the squeeze on profitability from rising operational and legal costs is a key area to watch.
The company’s performance highlights its sensitivity to both industrial and consumer economic trends. Its ability to manage costs effectively while capitalizing on growth opportunities, such as its environmental solutions for PFAS contamination, will be critical in navigating the path ahead.
Last updated: October 27, 2025