For Immediate Release
Contact:  Cindi Buckwalter
November 2, 2017
(212) 878-1831


Sales Growth of 6 Percent
Strong Operating Margins
Asia Sales Growth of 16 Percent; 13 Percent Growth in China
Cash Flow from Operations of $73 Million
Signed Agreement for Large Satellite PCC Plant in Indonesia

NEW YORK, November 2—Minerals Technologies Inc. (NYSE: MTX) today reported diluted earnings per share of $1.19, excluding special items, for the third quarter ended October 1, 2017.  Reported earnings were $1.17 per share.

"The Company reported a solid financial performance in the third quarter. Several of our product lines realized substantial growth globally and delivered strong operating margins," said Douglas T. Dietrich, Chief Executive Officer. "Our business continues to expand in Asia, driven primarily by increased penetration in China from our Metalcasting business. In addition, this week we announced an agreement for a new 80,000 ton per year PCC plant in Indonesia, which follows the signing of a new 125,000 ton plant and 40,000 ton expansion earlier this year."

Worldwide net sales in the third quarter increased 6 percent to $424 million. Operating income, as reported, was $66.8 million and represented 15.7 percent of sales. Operating income, excluding special items, increased 1 percent to $67.7 million and represented 16.0 percent of sales.

Sales in the Minerals businesses, which include the Specialty Minerals and Performance Materials segments, grew 6 percent in the third quarter to $337 million.  Operating income for the Minerals businesses was $57.2 million and operating margins represented 17.0 percent of sales.

Sales in the Performance Materials segment increased 12 percent in the third quarter to $189 million. Metalcasting sales increased 17 percent to $73.6 million, principally due to higher volumes in China and North America. Basic Minerals sales increased 40 percent, due primarily to higher sales of chromite and drilling products, and Building Materials sales increased 18 percent. These sales increases were partially offset by lower Environmental Products sales, and lower Fabric Care sales in Asia which affected the Household, Personal Care & Specialty Products product line. Operating income increased 1 percent to $30.6 million and represented 16.2 percent of sales. The Performance Materials segment provides a wide range of bentonite-based and synthetic materials for industrial and consumer markets and for non-residential construction, environmental remediation and infrastructure projects worldwide.

Third quarter worldwide sales for the Specialty Minerals segment, which consists of the Precipitated Calcium Carbonate (PCC) and Processed Minerals product lines, were $147.7 million. Income from operations for the segment decreased 4 percent to $26.6 million, and operating margins were 18.0 percent of sales.

Worldwide sales of PCC, which is used mainly in the manufacturing processes of the paper industry, increased 1 percent in the third quarter to $112.7 million. Higher sales in Europe, Asia and Latin America were partially offset by reduced sales in North America.

Third quarter net sales of Processed Minerals products decreased 2 percent to $35.0 million. Ground Calcium Carbonate sales increased 3 percent due to higher volumes in construction markets, which were more than offset by a 9 percent decrease in Talc sales. Processed Minerals products are used in the building materials, polymers, ceramics, consumer products, paints and coatings, glass and other manufacturing industries.

The Service businesses, which include the Refractories and Energy Services segments, improved their performance in the quarter. Sales of $87.9 million in the third quarter were 6 percent higher than the same period last year. Additionally, operating income for the Service businesses, excluding special items, increased 11 percent to $11.5 million in the current year quarter and operating margins were 13.1 percent of sales.

Third quarter sales in the Refractories segment, which provides products and services primarily to the worldwide steel industry, increased 9 percent over the same period last year to $68.9 million.  The Refractories segment operating income increased 24 percent to $9.9 million and was 14.4 percent of sales. The increase in sales and operating margins was primarily driven by higher equipment sales.

Energy Services segment sales were $19.0 million in the third quarter, a 4 percent decrease from the prior year quarter, primarily due to the impact of the hurricane in the Gulf of Mexico and relatively low production activity. Operating income, excluding special items, was $1.6 million and represented 8.4 percent of sales. Energy Services offers a range of patented technologies, products and services for off-shore filtration and well testing to the worldwide oil and gas industry.

"MTI posted another solid quarter, with substantial growth in several product lines. In our 26th year as a publicly traded company, we are solidly positioned to continue to pursue sustainable, profitable growth across our portfolio," said Mr. Dietrich.

Minerals Technologies will host a conference call tomorrow, November 3, 2017 at 11 a.m. Eastern Time. The conference call will be broadcast live on our website: www.mineralstech.com.


This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which describe or are based on current expectations. Actual results may differ materially from these expectations. In addition, any statements that are not historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our businesses, particularly those mentioned in the risk factors and other cautionary statements in our 2016 Annual Report on Form 10-K and in our other reports filed with the Securities and Exchange Commission.

About Minerals Technologies Inc.
New York-based Minerals Technologies Inc. (MTI) is a resource- and technology-based growth company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The company reported sales of $1.638 billion in 2016. For further information, please visit our website at www.mineralstech.com.


The following information was filed by Minerals Technologies Inc (MTX) on Thursday, November 2, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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