Minerals Technologies Q2 EPS falls to $0.61 on $30 million charge; adjusted $1.65
Minerals Technologies reported second-quarter 2024 net sales of $541 million, down 2% from the prior year as reported and up 1% on an underlying basis. Diluted earnings per share were $0.61, down from $0.82, after $34.2 million of special items, mainly a $30 million provision for credit losses on a committed line of credit to BMI OldCo, a subsidiary in Chapter 11 bankruptcy. Excluding special items, diluted EPS was $1.65, up 26%, a figure the company calls a record.
Key points
- Net sales were $541 million, down 2% from $551.5 million a year earlier; underlying growth was 1%
- Diluted EPS was $0.61 versus $0.82 a year earlier; excluding special items it was $1.65, up 26%
- Special items of $34.2 million include a $30 million provision tied to BMI OldCo (f/k/a Barretts Minerals Inc.) bankruptcy proceeding
- Operating income was $51 million as reported and $85 million excluding special items, or 15.7% of sales
The filing
Written by AI on Nov 8, 2026, 1:55 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 25, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.