Minerals Technologies Inc. (NYSE:MTX) Q1 2023 Earnings Conference Call April 28, 2023 11:00 AM ET

Company Participants

Lydia Kopylova - Head of Investor Relations

Doug Dietrich - Chairman and Chief Executive Officer

Erik Aldag - Chief Financial Officer

D.J. Monagle - Group President, Specialty Minerals and Household and Personal Care

Conference Call Participants

Daniel Moore - CJS Securities

David Silver - C.L. King

Steve Ferazani - Sidoti

Mike Harrison - Seaport Research Partners

Operator

Good day, everyone, and welcome to the First Quarter 2023 Minerals Technologies Earnings Call. Today's call is being recorded.

At this time, I would like to turn the call over to Lydia Kopylova, Head of Investor Relations for Minerals Technologies. Please go ahead, Ms. Kopylova.

Lydia Kopylova

Thank you, Carrie. Good morning, everyone, and welcome to our first quarter 2023 earnings conference call. Today's call will be led by Chairman and Chief Executive Officer, Doug Dietrich; and Chief Financial Officer, Erik Aldag.

Following Doug and Erik's prepared remarks, we'll open it up to questions. As a reminder, some of the statements made during this call may constitute forward-looking statements within the meaning of the federal securities laws.

Please note the cautionary language about forward-looking statements contained in our earnings release and on this slides. Our SEC filings disclose certain risks and uncertainties which may cause our actual results to differ materially from these forward-looking statements.

Please also note that some of our comments today refer to non-GAAP financial measures. A reconciliation to GAAP financial measures can be found in our earnings release, which is posted on our website.

Now I will turn it over to Doug. Doug?

Doug Dietrich

Thanks, Lydia. Good morning, everyone, and thank you for joining. Let me give you a quick outline for today's call. I'll start with first quarter summary. And as you may have noted from the press release, we're reporting this quarter on our two new segments, Consumer and Specialties and Engineered Solutions.

There is a big change in how we present the company. So I'm going to give a quick refresher on these two new segments and how we've organized them from a product market and technology standpoint. Erik will then take you through the financial details for the quarter and our outlook for the second. And after that we'll open it up for questions.

Let's go through a quick summary of the first quarter. We delivered what we expected in terms of sales, operating income and earnings per share. After a challenging end to last year, we remain focused on growth, margin recovery and improved cash flows, and we delivered on all three.