Minerals Technologies Q1 sales and operating income miss guidance; $215M talc reserve
Minerals Technologies preliminarily reported first-quarter 2025 sales of $492 million and operating income of $63 million, below its guidance of $500 million and $70 million. It also recorded a $215 million reserve for talc-related claims tied to its subsidiary BMI OldCo's Chapter 11 case, which could weigh on shareholders if the costs exceed the reserve or the case is not resolved as expected.
- Q1 2025 preliminary sales of $492 million vs. prior guidance of $500 million; operating income of $63 million vs. guidance of $70 million
- $215 million provision to establish a reserve for talc-related claims and BMI OldCo's Chapter 11 costs, including $30 million of added debtor-in-possession financing approved April 14, 2025
- Cost savings program of about $10 million annualized with a $5.5 million severance and related charge; full run-rate savings expected by early 2026
- Management said March sales improved to a run rate above initial Q1 guidance; more outlook details to come on the April 25, 2025 earnings call