Minerals Technologies Inc

Minerals Technologies Inc. reported a second-quarter loss per share of $5.90, driven by a $290 million charge to increase reserves for talc-related claims, while adjusted earnings per share rose 3 percent to $1.60. Worldwide net sales grew 4 percent to $548 million, with the Engineered Solutions segment up 9 percent and Consumer & Specialties down 1 percent. Excluding special items, operating income was $75 million, and the company generated free cash flow of $35.8 million in the quarter. The balance sheet remains solid with an adjusted net leverage ratio of 1.6 times, and the company published its 18th Sustainability Report with new 10-year environmental targets. MTI also announced it will host an Investor Day on September 22, 2026.

Minerals Technologies Inc. has filed a Plan of Reorganization in the Chapter 11 cases of its subsidiaries BMI OldCo Inc. and its affiliated debtors to meet a court-imposed deadline. The plan proposes funding a Talc Personal Injury Trust with $450 million from non-debtor affiliates to pay current and future talc-related claims, along with a channeling injunction and a waiver of over $100 million in claims against the debtors. The filing is procedural, as the broader dispute remains before the U.S. District Court for the Southern District of Texas, which is set to determine whether any talc sold by BMI OldCo contained asbestos capable of causing disease. MTI will record a $290 million charge in the second quarter of 2026 to increase its reserve for estimated costs.