Minerals Technologies Inc. announced its financial results for the third quarter of 2024, reporting GAAP earnings per share (EPS) of $1.45, which missed analyst estimates by $0.03. The company's revenue for the quarter was $524.7 million, falling short of estimates by $11.38 million and representing a 4.2% decrease year-over-year.
Despite the GAAP miss, the company reported an adjusted EPS of $1.51, surpassing the consensus estimate by $0.01. Management highlighted that the company achieved record operating income and EPS for the quarter, indicating strong performance in certain operational metrics.
The mixed results reflect a challenging industrial market environment, which impacted overall sales. However, the company's ability to deliver record operating income and adjusted EPS suggests underlying operational resilience and effective cost management strategies.
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