Minerals Technologies Inc. (NYSE:MTX) Q3 2024 Earnings Conference Call October 25, 2024 11:00 AM ET

Company Participants

Lydia Kopylova - Head, Investor Relations
Doug Dietrich - Chairman and Chief Executive Officer
Erik Aldag - Chief Financial Officer
Brett Argirakis - President, Engineered Solutions
D.J. Monagle - President, Consumer & Specialties

Conference Call Participants

Daniel Moore - CJS Securities
Michael Harrison - Seaport Research Partners
Steve Ferazani - Sidoti
David Silver - C.L. King

Operator

Good day, everyone, and welcome to the Third Quarter 2024 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, Sheley. Good morning, everyone, and welcome to our third quarter 2024 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 slide. 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 and an appendix of this presentation, which are posted on our website.

Now, I'll turn it over to Doug. Doug?

Doug Dietrich

Thanks, Lydia. Good morning, everyone, and thanks for joining today.

Let's go over a quick outline for today's call. First, I'll provide a quick review of our performance highlights for the quarter, and then I want to spend a few minutes reviewing the progress we've made with a variety of key initiatives and business development activities, as well as run through some highlights and key takeaways from our Investor Innovation Day that we held in September. Erik will then take you through the detailed financials for the quarter. We'll try to keep our prepared remarks a bit short of this call, so we have more time for your questions.

Let's start with our Q3 highlights. This is a record third quarter for us and we're on track for another record year. We did experience a general slowdown across our industrial markets this quarter, primarily in the Engineered Solutions segment. But this softness was offset by growth in our consumer-based businesses. This is the balanced structure of our portfolio that I often refer to, and it continues to prove that it can deliver solid results through a range of market conditions.