Minerals Technologies Inc. · NYSE:MTX

Minerals Technologies — Q1 2024 Earnings Presentation

18 slides from Minerals Technologies's earnings presentation, Apr 26, 2024

1. Slide 1: First Quarter 2024 Earnings Conference Call

   FIRST QUARTER 2024 EARNINGS CONFERENCE CALL April 26, 2024 © 2024 Minerals Technologies Inc. All Rights Reserved.

2. Slide 2: Forward Looking Statements and Non-GAAP Measures

   Forward Looking Statements and Non-GAAP Measures This presentation may contain "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations and forecasts of future events such as new products, revenue

3. Slide 3: Douglas T. Dietrich, Chairman and Chief Executive Officer

   Douglas T. Dietrich Chairman and Chief Executive Officer

4. Slide 4: First Quarter 2024 Highlights

   First Quarter 2024 Highlights $77M 14.5% $1.49 $56M $535M Operating Operating Earnings Cash Flow Sales From Income Margin Per Share Operations +0%* +23% +290bps +31% +66% *Underlying sales growth Highlights  MTI record operating income and first quarter record EPS and cash flow  Continued strength

5. Slide 5: Market Trends and Growth Highlights

   Market Trends and Growth Highlights Current Market Dynamics + Growth Highlights Consumer & Specialties Household &  Strong demand in cat litter, renewable fuel  New formulations in pet care and fabric care Personal Care filtration, animal health and personal care  Natural retinol delivery system

6. Slide 6: Erik C. Aldag, Chief Financial Officer

   Erik C. Aldag Senior Vice President, Finance and Treasury and Chief Financial Officer

7. Slide 7: First Quarter Financial Summary

   First Quarter Financial Summary Q1 ’24 Q1 ’23 YoY Sales vs Prior Year ($M) 0% Sales ($M) 535 533* +0.3%* 546 (13) 4 9 533 (1) 535 Gross Margin (%) 25.4 22.1 +330bps (10) Operating Income ($M) 77 63 +23% Q1 ’23 BMI Q1 ’23 H & PC Spec Adds High-Temp Env & Q1 ’24 Underlying Tech Infrastructure Operatin

8. Slide 8: Consumer & Specialties Segment First Quarter 2024 Performance

   CONSUMER & SPECIALTIES SEGMENT First Quarter 2024 Performance +4%* First Quarter Highlights Second Quarter Outlook $284M $297M $297M Household & Personal Care sales up 7%  Consumer-oriented products remain Sales strong  Continued strength in cat litter and other  Seasonally stronger period for Q1

9. Slide 9: Engineered Solutions Segment First Quarter 2024 Performance

   ENGINEERED SOLUTIONS SEGMENT First Quarter 2024 Performance -5% First Quarter Highlights Second Quarter Outlook $249M $238M $238M High-Temperature Technologies sales down 1%  N. America remains steady; Asia foundry Sales  Steady market demand in N. America offset by increases sequentially  Increa

10. Slide 10: Balance Sheet and Cash Flow

    Balance Sheet and Cash Flow Cash Flow and Q1 Capital Deployment Liquidity & Debt Q1 ’24 Cash From Operations Cash, Cash Equivalents, and $320M Free Cash Flow Short-Term Investments $56M Available Revolver $216M $39M $34M Total Liquidity $536M $9M Q1 ’23 Q1 ’24 ($121M) $802M  $17M Capital Expenditur

11. Slide 11: Second Quarter Outlook Summary

    Second Quarter Outlook Summary Consumer & Specialties Engineered Solutions  Consumer-oriented products +3% to +5%  Stable growth performance from YoY Sales Growth* remain strong High-Temperature Technologies $80M - $85M  Seasonally stronger period for Operating Income  Sequentially stronger peri

12. Slide 12: © 2024 Minerals Technologies Inc. All Rights Reserved.

    © 2024 Minerals Technologies Inc. All Rights Reserved.

13. Slide 13: Appendix

    Appendix © 2024 Minerals Technologies Inc. All Rights Reserved.

14. Slide 14: Net Income and Diluted EPS Excluding Special Items

    Reconciliation Net Income and Diluted EPS Excluding Special Items The information set forth in the Analyst Presentation presents financial measures of the Company that exclude certain special items, and are therefore not in accordance with GAAP. The following is a presentation of the Company’s non-G

15. Slide 15: Segment Operating Income Excluding Special Items

    Reconciliation Segment Operating Income Excluding Special Items (millions of dollars, except per share data) Quarter Ended Mar. 31, Apr. 2, 2024 2023 Segment Operating Income Data Consumer & Specialties Segment $ 42.0 $ 32.2 Engineered Solutions Segment 38.5 35.3 Unallocated and Other Corporate Expe

16. Slide 16: Adjusted EBITDA Excluding Special Items

    Reconciliation Adjusted EBITDA Excluding Special Items (millions of dollars, except per share data) Quarter Ended Mar. 31, Apr. 2, 2024 2023 Net income attributable to MTI $ 46.7 $ 37.0 Add back: Depreciation, depletion and amortization expense 23.5 23.7 Interest expense, net 14.9 14.2 Equity in ear

17. Slide 17: The Company Sales Growth Excluding BMI

    Reconciliation The Company Sales Growth Excluding BMI To supplement the Company's consolidated financial statements presented in accordance with GAAP, the following is a presentation of the Company's year over year sales growth, excluding the sales of Barretts Minerals Inc. for the three months ende

18. Slide 18: Free Cash Flow

    Reconciliation Free Cash Flow (millions of dollars, except per share data) Quarter Ended Mar. 31, Apr. 2, 2024 2023 Cash flow from operations $ 55.9 $ 33.7 Capital expenditures 16.5 24.5 Free cash flow $ 39.4 $ 9.2 18

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