2024 Q1 Form 10-K Financial Statement

#000089101424000014 Filed on February 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $534.5M $547.8M $2.170B
YoY Change 1.09% 2.09%
Cost Of Revenue $398.6M $414.7M $1.663B
YoY Change -2.1% 0.14%
Gross Profit $135.9M $133.1M $507.1M
YoY Change 12.51% 9.05%
Gross Profit Margin 25.43% 24.3% 23.37%
Selling, General & Admin $53.00M $50.90M $206.0M
YoY Change 10.65% 7.24%
% of Gross Profit 39.0% 38.24% 40.62%
Research & Development $5.600M $5.200M $21.20M
YoY Change 1.96% 3.92%
% of Gross Profit 4.12% 3.91% 4.18%
Depreciation & Amortization $23.50M $24.30M $95.00M
YoY Change 4.29% 0.85%
% of Gross Profit 17.29% 18.26% 18.73%
Operating Expenses $58.60M $56.10M $227.2M
YoY Change 9.78% 6.92%
Operating Profit $77.30M -$7.900M $279.9M
YoY Change -122.19% 30.31%
Interest Expense -$14.90M $15.30M -$59.20M
YoY Change 39.09% -234.85%
% of Operating Profit -19.28% -21.15%
Other Income/Expense, Net -$200.0K -$14.70M -$4.900M
YoY Change -20.54% -91.57%
Pretax Income $60.10M -$22.60M $107.7M
YoY Change -232.16% 174.05%
Income Tax $13.90M -$3.500M $23.70M
% Of Pretax Income 23.13% 22.01%
Net Earnings $46.70M -$19.20M $84.10M
YoY Change -243.28% -31.18%
Net Earnings / Revenue 8.74% -3.5% 3.88%
Basic Earnings Per Share $1.45 -$0.59 $2.59
Diluted Earnings Per Share $1.44 -$0.59 $2.58
COMMON SHARES
Basic Shares Outstanding 32.36M 32.50M 32.50M
Diluted Shares Outstanding 32.40M 32.50M 32.60M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $320.1M $278.2M $321.5M
YoY Change 22.88% 27.18%
Cash & Equivalents $315.7M $268.4M $317.2M
Short-Term Investments $4.400M $9.800M $4.300M
Other Short-Term Assets $58.90M $60.20M $53.00M
YoY Change -16.27% -18.34%
Inventory $326.0M $337.5M $325.4M
Prepaid Expenses $45.00M
Receivables $396.3M $418.3M $399.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.101B $1.094B $1.099B
YoY Change 1.93% 2.66%
LONG-TERM ASSETS
Property, Plant & Equipment $977.0M $977.6M $986.8M
YoY Change -5.85% -10.25%
Goodwill $913.1M $913.6M
YoY Change 0.15%
Intangibles $227.6M $232.2M
YoY Change -4.64%
Long-Term Investments $20.00M $20.00M
YoY Change 21.21% 21.21%
Other Assets $120.1M $102.8M $116.2M
YoY Change 5.33% 98.97%
Total Long-Term Assets $2.238B $2.251B $2.248B
YoY Change -2.74% -3.58%
TOTAL ASSETS
Total Short-Term Assets $1.101B $1.094B $1.099B
Total Long-Term Assets $2.238B $2.251B $2.248B
Total Assets $3.339B $3.345B $3.347B
YoY Change -1.26% -1.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $194.7M $184.8M $188.7M
YoY Change -12.04% -2.63%
Accrued Expenses $59.20M $72.70M
YoY Change 7.05% 5.67%
Deferred Revenue
YoY Change
Short-Term Debt $75.70M $109.2M $85.40M
YoY Change -7.85% -28.65%
Long-Term Debt Due $21.40M $14.40M $18.00M
YoY Change 1957.14% 24.14%
Total Short-Term Liabilities $441.8M $473.5M $457.3M
YoY Change -4.05% -9.01%
LONG-TERM LIABILITIES
Long-Term Debt $904.4M $918.0M $911.1M
YoY Change -2.85% -1.83%
Other Long-Term Liabilities $154.3M $108.0M $152.2M
YoY Change -7.38% -14.16%
Total Long-Term Liabilities $1.059B $1.026B $1.063B
YoY Change -3.34% -3.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $441.8M $473.5M $457.3M
Total Long-Term Liabilities $1.059B $1.026B $1.063B
Total Liabilities $1.678B $1.722B $1.695B
YoY Change -7.0% -7.0%
SHAREHOLDERS EQUITY
Retained Earnings $2.404B $2.324B
YoY Change 2.55%
Common Stock $508.6M $498.3M
YoY Change 2.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $831.1M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $1.661B $1.589B $1.652B
YoY Change
Total Liabilities & Shareholders Equity $3.339B $3.345B $3.347B
YoY Change -1.26% -1.62%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $46.70M -$19.20M $84.10M
YoY Change -243.28% -31.18%
Depreciation, Depletion And Amortization $23.50M $24.30M $95.00M
YoY Change 4.29% 0.85%
Cash From Operating Activities $55.90M $59.10M $233.6M
YoY Change 94.41% 121.0%
INVESTING ACTIVITIES
Capital Expenditures $16.50M $25.10M $93.50M
YoY Change -230.73% 13.61%
Acquisitions $1.800M
YoY Change -91.96%
Other Investing Activities -$100.0K -$1.400M -$1.300M
YoY Change -101.83% -35.0%
Cash From Investing Activities -$16.60M -$26.50M -$91.70M
YoY Change -122.75% -9.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $3.600M $14.80M
YoY Change -97.32%
Cash From Financing Activities -32.00M -4.100M -71.70M
YoY Change -44.59% 110.26%
NET CHANGE
Cash From Operating Activities 55.90M 59.10M 233.6M
Cash From Investing Activities -16.60M -26.50M -91.70M
Cash From Financing Activities -32.00M -4.100M -71.70M
Net Change In Cash 7.300M 28.50M 70.00M
YoY Change -80.6% -233.84%
FREE CASH FLOW
Cash From Operating Activities $55.90M $59.10M $233.6M
Capital Expenditures $16.50M $25.10M $93.50M
Free Cash Flow $39.40M $34.00M $140.1M
YoY Change -31.45% 498.72%

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MINERALS TECHNOLOGIES INC.
CY2023 dei Entity Incorporation State Country Code
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DE
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25-1190717
CY2023 dei Entity Address Address Line1
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622 Third Avenue
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38th Floor
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New York
CY2023 dei Entity Address State Or Province
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NY
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10017-6707
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212
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878-1800
CY2023 dei Security12b Title
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Common Stock, $0.10 par value
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MTX
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NYSE
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KPMG LLP
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CY2023Q4 mtx Accumulated Other Comprehensive Income Loss Cumulative Changes In Unrecognized Pension Costs Effect Tax
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8900000
CY2021 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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8400000
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
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CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
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CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
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10600000
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2021 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2021 us-gaap Operating Income Loss
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CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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107700000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
156700000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
202300000
CY2023Q4 us-gaap Assets
Assets
3346600000
CY2022Q4 us-gaap Assets
Assets
3401600000
CY2021Q4 us-gaap Assets
Assets
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CY2023 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
93500000
CY2022 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
82300000
CY2021 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
86000000

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