Minerals Technologies Inc. (NYSE:MTX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Minerals Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.92% to $0.53 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Decreased 2.28% to $251.29 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Minerals Technologies Inc. reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.51. It missed the average revenue estimate of $253.77 million.
Quoting Management: “We began 2013 with solid operating performance, which generated a record in profit for both Minerals Technologies and our Specialty Minerals segment,” said Joseph C. Muscari, executive chairman. “During the quarter we saw organic growth from new satellites ramping up in Asia, and we also announced three new commercial agreements for our FulFill® technology–two in North America and one in South America.”
Key Stats (on next page)…
Revenue increased 2.92% from $244.17 million in the previous quarter. EPS increased 6% from $0.50 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.58 and has not changed. For the current year, the average estimate has moved down from a profit of $2.26 to a profit of $2.25 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)