Minerals Technologies (MTX) Q2 2026 earnings summary

Executive summary

• Q2 2026 sales reached $548.4 million, up 4% year-over-year, with H1 sales up 7%, driven by growth initiatives and favorable market conditions in both Consumer & Specialties and Engineered Solutions.

• Adjusted EPS for Q2 was $1.60, up 3% year-over-year, but reported EPS was $(5.90) due to a $290 million litigation reserve charge.

• Engineered Solutions delivered record Q2 margin of 17.8% and strong income growth, while Consumer & Specialties saw a 1% sales decline and lower operating income.

• Strong cash flow and liquidity, with Q2 free cash flow of $35.8 million, H1 free cash flow of $44.8 million, and cash and equivalents of $346.2 million.

• Published 18th Sustainability Report, achieving all 2018 environmental targets by 2025 and setting new 10-year goals.

Financial highlights

• Q2 2026 net sales: $548.4 million (+4% YoY); H1 2026 net sales: $1,095.3 million (+7% YoY).

• Q2 2026 operating income was $75 million excluding special items, but a $220 million consolidated operating loss was reported due to litigation charges.

• Adjusted EBITDA for Q2 was $99.2 million (18.1% margin); H1 adjusted EBITDA was $192.1 million (17.5% margin).

• Free cash flow for Q2 was $35.8 million, and $44.8 million for H1.

• Adjusted net leverage ratio improved to 1.6x EBITDA; cash and equivalents at $346.2 million.

Outlook and guidance

• Q3 2026 sales expected at ~$550 million (+4% YoY), with operating income of ~$75 million and EPS of $1.55–$1.60.

• Full-year sales growth expected in mid-single digits, with margin recovery anticipated in the second half as pricing actions take effect.

• Both Consumer & Specialties and Engineered Solutions segments guided to 3–5% sales growth in Q3.

• Continued strong demand in steel, Environmental & Infrastructure, and natural oil purification markets.

• Management remains focused on innovation, new product development, and selective acquisitions.