Minerals Technologies Inc. (MTX): Business Model Canvas [Dec-2025 Updated]

You're looking to understand the engine room of a specialty materials giant, and frankly, mapping out the Business Model Canvas for Minerals Technologies Inc. (MTX) reveals a fascinating, dual-pronged strategy. Honestly, it's not just about mining; it's about proprietary tech delivering essential solutions, as shown by their Q3 2025 performance where net sales neatly split between Consumer & Specialties ($\mathbf{\$277}$ million) and Engineered Solutions ($\mathbf{\$255}$ million), all while generating $\mathbf{\$44}$ million in free cash flow that same quarter. If you want to see exactly how they balance high fixed costs, manage that recent $\mathbf{\$215}$ million talc-related reserve, and structure their value proposition around on-site PCC plants versus global cat litter distribution, dive into the nine building blocks detailed below.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Key Partnerships

Minerals Technologies Inc. (MTI) relies on a network of external entities to maintain its global footprint and technology deployment, which supports its position as the world's largest producer of bentonite and a leading producer of calcium carbonate. Worldwide net sales for the third quarter ended September 28, 2025, were $532 million.

The company's vertical integration spans from mine to market, supported by production capabilities in 34 countries and 12 R&D centers globally. This structure necessitates robust external relationships across the value chain.

Global network of raw material suppliers for bentonite and talc

MTI directly sources minerals from its globally distributed reserves. The company's operations are underpinned by its control over mineral reserves, which feeds its production of key materials like bentonite. The financial context for managing these supply chains is reflected in the Q3 2025 cash flow from operations of $71 million.

Strategic alliances with major paper and packaging companies for on-site plants

A core partnership model involves on-site production facilities, a concept MTI originated in 1986 for Precipitated Calcium Carbonate (PCC) at paper mills. As of late 2025, MTI has 58 satellite plants in operation or under construction worldwide. Specifically, there are 15 agreements in place with paper mills utilizing the Fulfill® E-325 technology.

The success of these long-term, initially ten-year, evergreen agreements is critical to the Consumer & Specialties segment, which posted sales of $277 million in Q3 2025.

Equipment manufacturers for specialized industrial systems like Minscan®

MTI utilizes proprietary application equipment, such as the MINSCAN® system, for remote-controlled application of refractory materials in high-temperature vessels. The company's strategic goals include deploying its laser measurement technologies into new applications. The Engineered Solutions segment, which houses High-Temperature Technologies, recorded sales of $179 million in Q3 2025.

Logistics and shipping partners for worldwide product distribution

Distribution across 34 countries requires extensive logistics partnerships. The company's ability to manage global distribution is key to supporting its worldwide net sales, which totaled $532 million in Q3 2025. The company initiated a cost savings program of $10 million annualized in Q1 2025, which would impact operational efficiencies, including logistics.

Research institutions for definitely advancing mineral science applications

Innovation is driven by MTI's 12 R&D centers. The company focuses on developing new products, with 66% of new products having a sustainable profile. The company returned $22 million to shareholders in Q2 2025 through stock repurchases and dividends, balancing capital deployment between growth initiatives and shareholder returns.

Here's a look at the scale of operations tied to these external relationships:

Partnership Category	Key Metric/Data Point	Latest Reported Value (2025 Data)
Global Production Footprint	Countries with Production Capabilities	34
R&D and Innovation Network	Number of R&D Centers	12
Paper/PCC On-Site Plants	Total Satellite Plants in Operation/Under Construction	58
Paper Technology Alliances	Fulfill® E-325 Technology Agreements	15
Financial Scale (Q3 2025)	Worldwide Net Sales	$532 million
Financial Scale (2024)	Global Net Sales	$2.1 billion
Operational Efficiency Program	Annualized Cost Savings Target Initiated in Q1 2025	$10 million

The company's commitment to technology deployment is evident in its focus on systems like MINSCAN®. Furthermore, MTI's Q3 2025 free cash flow was $44 million, providing capital for these strategic external engagements.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Key Activities

You're looking at the core operational engine of Minerals Technologies Inc. (MTX) as of late 2025. These are the things they absolutely must do well to make the business model work, grounded in their latest reported figures.

Mining, processing, and refining of specialty minerals

Minerals Technologies Inc. (MTX) activity centers on using global mineral reserves with their core technologies to create specialty mineral-based products. This activity underpins both major segments. For instance, the Specialty Additives product line, which relies on these processed minerals, posted sales of $148 million in the third quarter ended September 28, 2025. The global bleaching earth market, a key area, is valued at $1 billion.

Here's a quick look at the top-line financial context from Q3 2025, which reflects the output of these core activities:

Metric	Value (Q3 2025)
Worldwide Net Sales	$532 million
Operating Income (Excluding Special Items)	$78 million
Operating Margin (Excluding Special Items)	14.7 percent of sales
Free Cash Flow	$44 million

Research and development (R&D) of proprietary mineral-based technologies

The company positions itself as a technology-driven specialty minerals company, meaning R&D into proprietary mineral-based technologies is a continuous, necessary function. While specific R&D spend isn't detailed here, the output is evident in their product lines and service offerings. They deliver innovative solutions by applying their core technologies to global mineral reserves. This focus supports growth in areas like natural oil purification and the development of solutions for renewable fuels.

Operating and servicing on-site satellite plants at customer locations

A key activity involves deploying advanced process technologies and solutions directly at customer sites, primarily through the Engineered Solutions segment. This is exemplified by their Minscan® equipment. They have 12 Minscan® units currently installed at customer sites, with plans to install an additional 6 over the next 12 months. This shows a commitment to servicing and integrating their technology on-site to improve customer manufacturing processes.

Executing the $10 million annualized cost savings program (initiated Q1 2025)

Minerals Technologies Inc. (MTX) started a proactive efficiency cost savings program in the first quarter of 2025. The goal is to realize approximately $10 million in savings on an annualized basis, mainly through workforce reductions. The company recorded a charge of $5.5 million in Q1 2025 for severance and other related costs associated with this effort. They expect to hit the full run rate savings target by early 2026. It's a clear action taken to adapt to softer demand conditions experienced early in the year.

Strategic capital investments in Household & Personal Care capacity (e.g., cat litter)

The company is actively investing capital to support the growth of its SIVO™ pet care business, which is the global leader in private label cat litter. These upgrades are targeted for completion by the end of 2025. The investments are focused on plants in Dyersburg, Tennessee; Brantford, Ontario; and Chaoyang City, China. This activity directly supports the Household & Personal Care product line, which generated sales of $130 million in Q3 2025, showing a 2 percent sequential increase driven by cat litter volume. The long-term growth rate for the North America cat litter market is cited as 3-4 percent CAGR.

The focus areas for these strategic investments include:

• Upgrading lowest-cost cat litter hubs in the US and Canada.
• Expanding capacity in the rapidly growing market in Asia.
• Expanding capacity for animal health and fabric care products.

Finance: draft Q4 2025 capital expenditure forecast by next Tuesday.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Key Resources

You're looking at the core assets Minerals Technologies Inc. (MTX) relies on to deliver its value propositions. These aren't just assets; they are the foundation for their specialty minerals and technology offerings. Let's break down the hard numbers supporting these resources as of late 2025.

The company's foundation rests on its access to raw materials. Minerals Technologies Inc. explicitly states it utilizes global mineral reserves, including bentonite and talc, in its operations. While the exact size of the reserves isn't public in the latest reports, the scale of their market presence suggests significant, responsibly managed holdings.

Technology and intellectual property are critical differentiators. The company has deployed its proprietary Minscan® equipment, reporting 12 installed units with an additional 6 slated for installation over the next 12 months. Furthermore, their focus on high-growth areas is evident; for instance, the global bleaching earth market is valued at $1 billion, and they are expanding capacity to meet demand in renewable fuels and personal care applications.

The human and physical infrastructure supporting this is substantial. Minerals Technologies Inc. maintains a global network of 4,000 employees operating across 34 countries. To support this, they rely on integrated production facilities and on-site satellite plants, including R&D facilities in 12 countries. Investments are actively being made to upgrade plants in the United States, Canada, and China to support the SIVO™ pet care business, with upgrades expected to be completed by the end of 2025.

Financially, the company demonstrated strong cash generation in the third quarter of 2025. That quarter saw a record earnings per share of $1.55 excluding special items. Here are the key financial metrics from that period:

Metric	Value (Q3 2025)
Worldwide Net Sales	$532 million
Reported Operating Income	$71 million
Operating Income Excluding Special Items	$78 million
Operating Margin Excluding Special Items	14.7 percent of sales
Cash Flow from Operations	$71 million
Free Cash Flow	$44 million
Total Liquidity	$556 million

The company is also actively managing its capital structure. In Q3 2025, Minerals Technologies Inc. returned $20 million to shareholders and announced a 9 percent increase to its regular quarterly dividend. The Net Leverage Ratio stood at 1.7X EBITDA as of the end of the third quarter of 2025.

The strength of their market segments also feeds into these key resources:

• Household & Personal Care sales grew 2 percent sequentially in Q3 2025.
• Sales for natural oil purification were up 18 percent year-over-year in 2025.
• Animal health product sales were up 12 percent year-over-year in 2025.
• The Environmental & Infrastructure product line saw sales increase by 5 percent sequentially to $76 million.

The company reported global sales of $2.1 billion for the full year 2024. Finance: draft 13-week cash view by Friday.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Minerals Technologies Inc. (MTX) brings to its customers as of late 2025. It's about delivering specific, measurable performance improvements across diverse industrial and consumer bases.

Performance-enhancing mineral solutions for industrial processes (e.g., steel, paper)

The Engineered Solutions segment, which houses many of these industrial offerings, posted sales of $255 million in the third quarter of 2025. Within that, the High-Temperature Technologies product line, serving steelmaking and refractories, generated $179 million in sales for the quarter ending September 28, 2025. These solutions are designed to help steelmakers improve productivity and lower overall cost by allowing refractory application while furnaces are at operating temperature, eliminating cool-down periods. The company's overall worldwide net sales for Q3 2025 were $532 million.

Customized, high-quality consumer products (e.g., SIVO™ cat litter)

The Consumer & Specialties segment delivered sales of $277 million in Q3 2025. The Household & Personal Care product line, which includes the SIVO™ pet care business, accounted for $130 million of that total, showing a 2 percent sequential increase driven by cat litter volume. SIVO™ positions itself as the global leader in private label cat litter, supplying over 55 countries worldwide. Minerals Technologies Inc. announced significant capital investments to upgrade facilities in Dyersburg, Tennessee (United States), Brantford, Ontario (Canada), and Chaoyang City (China), with completion expected by the end of 2025 to meet growing demand.

On-site plant model for Precipitated Calcium Carbonate (PCC) supply, reducing customer costs

Minerals Technologies Inc. is the world's largest Precipitated Calcium Carbonate (PCC) producer, offering advanced technology portfolios like OPACARB® PCC for paper coating. While specific cost-reduction figures tied directly to the on-site model aren't public, the value proposition rests on providing tailored PCC supply directly at the customer's site, which is a key part of their historical offering to the paper and packaging sector. The company also has technologies like AT® PCC, designed to be introduced to the large wood-containing segment of the printing and writing paper market.

Advanced process technologies like Minscan® for steelmaking optimization

The company deploys advanced automation software and application equipment to optimize furnace maintenance. The Minscan® system provides real-time automated refractory maintenance for Electric Arc Furnaces (EAF). As of late 2025, Minerals Technologies Inc. has 12 Minscan® units installed, with an additional 6 scheduled for installation over the next 12 months. This technology, paired with measurement systems like Ferrotron, helps partners increase productivity and reduce downtime.

Environmental and infrastructure solutions (e.g., water filtration, drilling products)

This product line falls under the Engineered Solutions segment. Sales in the Environmental & Infrastructure product line increased by 5 percent sequentially to reach $76 million in the third quarter of 2025. This growth was specifically driven by an increase in offshore water filtration and services, alongside infrastructure drilling products. Furthermore, the company offers certified, proprietary adsorbent technology proven effective at capturing a range of PFAS compounds, addressing critical environmental remediation needs.

Here's a quick look at the latest reported operating performance that underpins the ability to deliver these value propositions:

Metric	Value (Q3 2025)	Context
Worldwide Net Sales	$532 million	Up 1 percent sequentially
Adjusted Operating Income	$78 million	Down 1 percent sequentially
Adjusted Operating Margin	14.7 percent	Margin execution remains strong
Free Cash Flow	$44 million	Up 24 percent year-over-year
Shareholder Return (Q2 2025)	$22 million	Through dividends and buybacks

The company's overall strategy is focused on profitable growth, evidenced by the record third-quarter adjusted EPS of $1.55. They are actively managing capital deployment, having announced a 9 percent dividend increase in Q3 2025. The focus is definitely on shifting the business mix toward higher-margin sustainable products, which analysts project will drive profit margins from a current low point to 36 percent within three years.

• Engineered Solutions Segment Sales (Q3 2025): $255 million
• Household & Personal Care Sales (Q3 2025): $130 million
• Total Employees: 4,000
• Global Production Footprint: 34 countries

Finance: draft 13-week cash view by Friday.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Customer Relationships

You're looking at how Minerals Technologies Inc. (MTX) locks in its revenue, and honestly, it's all about embedding itself deep within the customer's operation. This isn't just transactional selling; it's about being a necessary partner, which is why their focus on the customer is cited as the engine for their organic growth.

Dedicated, long-term technical support for industrial customers is a cornerstone, especially where their proprietary technology is concerned. For instance, the company utilizes an on-site satellite plant concept for paper mills, which is a clear example of deep integration. This commitment to technical partnership is further evidenced by their ongoing deployment of specialized monitoring equipment; they signed eight agreements for this technology in 2025, installing one in the first half, with the rest targeted for installation by early 2026. Furthermore, over the past few years, they've installed 17 MNSCANs (scan trolls), with the majority located in North America.

The co-creation of value through on-site plant operations and service contracts directly supports the Engineered Solutions segment, which serves heavy industrial clients. Sales in the Engineered Solutions segment for the second quarter of 2025 reached $251 million, showing a strong 12 percent sequential increase. Within this, the High-Temperature Technologies product line, which serves steel and foundry customers, posted sales of $179 million in the third quarter of 2025, showing stability compared to the prior quarter. This type of relationship is high-touch because the service is integrated into the client's production line.

For the large-scale, global consumer private-label brands, Minerals Technologies Inc. (MTX) focuses on the Consumer & Specialties segment. This segment delivered worldwide net sales of $277 million in the third quarter of 2025. Within that, the Household & Personal Care product line, which includes custom cat litter formulations, generated $130 million in sales for Q3 2025, reflecting a 2 percent sequential increase driven by volume growth. This shows account management is tailored to resilient, consumer-facing applications.

The company markets its products primarily through its direct sales force, which engages directly with industrial clients, alongside regional distributors. This direct engagement is crucial for the Engineered Solutions segment, which includes products for municipal, infrastructure, and industrial castings. The consultative selling approach is necessary for complex offerings like environmental and infrastructure products, where sales increased by 5 percent sequentially to $76 million in Q3 2025, driven by offshore water filtration and services. The overall company reported a trailing twelve months (TTM) revenue of approximately $2.07 Billion USD as of late 2025.

Here's a quick look at how the customer-facing segments performed in the most recent reported quarter, Q3 2025, which ended September 28:

Segment	Q3 2025 Sales (USD)	Sequential Sales Change	Key Customer Focus
Consumer & Specialties	$277 million	0 percent (flat)	Household & Personal Care (Cat Litter, etc.)
Engineered Solutions	$255 million	2 percent increase	Industrial Castings, Refractories, Infrastructure

The consultative selling for complex Engineered Solutions is supported by the overall operational efficiency, as the company achieved an operating margin of 14.7 percent on its consolidated sales of $532 million in Q3 2025 (excluding special items). The company supports its 4,000 employees across 34 countries with this integrated service approach.

You can see the relationship strategy is layered:

• Industrial Integration: On-site plants and technology service agreements.
• Consumer Stability: Consistent volume in Household & Personal Care, reaching $130 million in Q3 2025.
• Direct Engagement: Reliance on a direct sales force for industrial solutions.
• Service Growth: Sequential sales growth in Environmental & Infrastructure services by 5 percent.

Finance: draft 13-week cash view by Friday.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Channels

You're looking at how Minerals Technologies Inc. (MTX) gets its specialized mineral products and technologies into the hands of its diverse customer base as of late 2025. It's not one path; it's a tailored approach across industrial and consumer markets.

Direct sales and technical service teams for industrial segments are key for the Engineered Solutions business. For instance, the High-Temperature Technologies product line posted sales of $179 million in the third quarter ended September 28, 2025. This line, which includes equipment sales, saw strong volume growth in Asia foundry and refractory equipment sales during that quarter, even with offsets in North America. Similarly, the Specialty Additives line, which is part of the Consumer & Specialties segment, relies on direct engagement to place functional components into industrial goods, reporting sales of $148 million in Q3 2025. These industrial channels require deep technical service, which is a core part of the value delivery.

The legacy of the Paper PCC business is built on the on-site satellite plants at paper mills for PCC production. This channel model, which Minerals Technologies Inc. originated in 1986, puts the manufacturing right next to the customer, eliminating transport costs for the filler pigment. While the most recent data point is from 2022, where approximately 18% of the Company's PCC sales came from these satellite plants, the model remains a critical channel differentiator.

For the consumer side, the retail distribution networks for Household & Personal Care products are essential. This product line, which includes the SIVO™ pet care business-the global leader in private label cat litter-generated $130 million in sales in the third quarter of 2025, showing a 2 percent sequential increase. To support this volume, Minerals Technologies Inc. is actively investing in plant upgrades in the United States, Canada, and China, expected to be completed by the end of 2025 to meet increased supply needs. That's how you feed the retail shelf.

The entire operation is underpinned by a global network of production facilities and distribution hubs. Minerals Technologies Inc. serves customers in consumer and industrial markets worldwide, employing 4,000 employees in 34 countries. This infrastructure supports the global reach of all segments, from the Specialty Additives to the Environmental & Infrastructure product line, which saw Q3 2025 sales of $76 million.

Finally, for the direct equipment sales and installation for High-Temperature Technologies, the sales performance reflects this channel. Here's the quick math on recent sales for the segment containing this business line:

Product Line/Segment Metric	Q3 2025 Value	Comparison/Context
High-Temperature Technologies Sales	$179 million	Similar to prior quarter
Engineered Solutions Segment Sales	$255 million	Up 2 percent sequentially
Household & Personal Care Sales	$130 million	Up 2 percent sequentially
Trailing 12-Month Revenue (TTM)	$2.07 Billion USD	As of September 30, 2025

The company is clearly making strategic investments, particularly in the consumer-facing areas, to fortify these channels for future growth. If onboarding new capacity takes longer than the end-of-2025 target, growth in the pet care line could slow down.

• Direct sales support for industrial segments like Specialty Additives and High-Temperature Technologies.
• On-site PCC satellite plants reduce logistics costs for paper mills.
• Retail focus for Household & Personal Care, with recent plant capacity expansions underway in the US, Canada, and China.
• Global footprint: 4,000 employees operating across 34 countries.
• Equipment sales (e.g., Minscan® units) are part of the Engineered Solutions segment, which posted $255 million in Q3 2025 sales.

Finance: draft 13-week cash view by Friday.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Customer Segments

You're looking at how Minerals Technologies Inc. (MTX) divides up its customer base, which is key to understanding where their revenue is actually coming from right now. Based on the latest figures from the third quarter of 2025, the customer mix is clearly split between consumer-facing and heavy industrial applications.

The Consumer & Specialties segment brought in net sales of $277 million for the third quarter ended September 28, 2025, which was flat compared to the quarter before. This segment directly serves consumer-driven markets.

Within that, the Household & Personal Care product line is a definite focus area, with sales hitting $130 million in Q3 2025, showing a 2 percent sequential increase. This growth was specifically attributed to higher volume in cat litter, where Minerals Technologies Inc. operates through its SIVO™ pet care division, which is the global leader in private label cat litter solutions. Honestly, that private label strength is a solid anchor for this part of the business.

The other part of that segment, Specialty Additives, recorded sales of $148 million in Q3 2025. This line saw a 2 percent sequential decrease, which management noted was due to softer residential construction activity. This product line feeds into a variety of industrial goods, which would include components for paper and packaging producers worldwide, though direct paper/packaging revenue isn't broken out separately.

The Engineered Solutions segment, which targets heavy industry and infrastructure, posted sales of $255 million in Q3 2025, marking a 2 percent sequential rise. This segment is where you find the customers in the steel and metalcasting space.

Here's a quick look at the segment sales for the third quarter of 2025:

Customer-Facing/End Market Area	Product Line Context	Q3 2025 Net Sales (USD Millions)
Household & Personal Care	Cat litter, fabric care components	$130 million
Industrial/Specialty Additives	Functional components for various goods	$148 million
Steel, Foundry, Metalcasting	High-Temperature Technologies	$179 million
Construction, Environmental, Infrastructure	Environmental & Infrastructure	$76 million

The High-Temperature Technologies line, serving those industrial manufacturers, was at $179 million in Q3 2025, similar to the prior quarter, though they noted strong volume growth in Asia foundry sales partially offset lower North America foundry volumes. That's a clear regional split in industrial demand you need to watch.

For developers involved in Construction, Environmental, and Infrastructure projects, the Environmental & Infrastructure product line generated $76 million in Q3 2025 sales, which was a 5 percent sequential jump. This growth was specifically driven by an increase in offshore water filtration and services, along with infrastructure drilling products.

Minerals Technologies Inc. generally serves a wide spectrum, as noted in their 2024 global sales of $2.1 billion. You can see the breadth of their customer base in what they supply:

• Household & Personal Care volume grew 2 percent sequentially in Q3 2025.
• Specialty Additives sales were $148 million, impacted by softer residential construction.
• High-Temperature Technologies sales were $179 million, with Asia foundry sales strong.
• Environmental & Infrastructure sales grew 5 percent sequentially to $76 million.
• The company has 4,000 employees in 34 countries as of late 2025.

Regarding Food, Pharmaceutical, and Specialty Chemical Manufacturers, these customers are served through the broader portfolio, particularly the Specialty Additives line, which contributes to functional components in those goods. While specific revenue for food/pharma isn't isolated, the overall Consumer & Specialties segment, which includes these markets, was $277 million in Q3 2025.

Finance: draft 13-week cash view by Friday.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Cost Structure

You're looking at the expense side of Minerals Technologies Inc. (MTX) operations as of late 2025, and it's clear that capital intensity and specific liabilities drive a large part of the cost base. The structure reflects a heavy industrial footprint that requires significant ongoing investment just to keep the lights on and the machinery running.

High fixed costs are inherent due to the nature of the business. This is tied up in the physical assets required for mining and processing. As of September 28, 2025, the Net property, plant and equipment stood at $1,012.9 million after accumulated depreciation, representing a substantial asset base that necessitates depreciation and maintenance costs regardless of immediate sales volume. Also, the company's long-term liabilities were reported at $960.1 million as of March 30, 2025, indicating significant debt servicing costs that function as a fixed financial obligation.

Variable costs are significant, directly tied to production levels. Raw materials, energy, and shipping are noted risks that impact the Cost of Goods Sold (COGS). For the first quarter of 2025, COGS was $372.2 million, which represented 75.7% of sales for that period. This high percentage shows how sensitive gross profit is to fluctuations in input costs. The company recognized slower demand in Q1 2025, which impacted volumes and resulted in higher operating costs relative to sales.

The cost structure is also shaped by strategic investments aimed at maintaining market position and managing liabilities. Here's a look at some key financial components impacting the cost structure through the first three quarters of 2025:

Cost Component Category	Period/Date	Amount (in millions of USD)
Provision for Talc Litigation Reserve	Q1 2025	$215.0
Cost of Goods Sold (COGS)	Q1 2025	$372.2
Restructuring and Related Charges (39 Weeks Ended Nov 1, 2025)	Year-to-Date 2025	$26.1
Research and Development Expense	Q3 2025	$5.9
Severance/Restructuring Charge (Q1 2025 Cost Savings Program)	Q1 2025	$5.5
Litigation Expenses (Oldco Bankruptcy Filing)	Q1 2025	$2.8

Research and development (R&D) investment is a necessary cost to sustain technology leadership, even when facing market softness. For the nine months leading up to the end of Q3 2025, R&D expenses showed a consistent quarterly spend. Specifically, the R&D expense for the third quarter ended September 28, 2025, was $5.9 million, following $5.7 million in Q2 2025 and $5.6 million in Q1 2025.

Legal and litigation costs represent a major, non-recurring, but material, drain on the cost structure. The most significant item was the Q1 2025 provision to establish a reserve of $215 million to fund a trust resolving all current and future talc-related claims for its subsidiary BMI OldCo. This provision also included $30 million of additional debtor-in-possession financing. Furthermore, the company recorded specific charges related to corporate actions:

• Severance and other costs related to the cost savings program initiated in Q1 2025 totaled $5.5 million.
• Litigation expenses tied directly to Oldco's bankruptcy filing were $2.8 million in Q1 2025.
• Restructuring and related charges for the 39 weeks ended November 1, 2025, totaled $26.1 million.

Labor costs are a core operating expense, reflecting the global scale of Minerals Technologies Inc. The company maintains a workforce of approximately 4,000 employees operating across 34 countries. While specific total labor costs for 2025 aren't itemized against this number, the impact of workforce adjustments is visible in the restructuring charges, such as the $5.5 million severance charge recorded in Q1 2025 as part of a program targeting $10 million in annualized efficiency savings.

Minerals Technologies Inc. (MTX) - Canvas Business Model: Revenue Streams

You're looking at the top-line performance for Minerals Technologies Inc. (MTX) as of late 2025. The overall picture shows a company generating substantial revenue from its specialized mineral products and technologies. For the Trailing Twelve Months (TTM) ending with the third quarter of 2025, Minerals Technologies Inc. reported net sales of approximately $2.07 billion.

The bulk of that revenue comes from two primary operating segments, which you can see broken down clearly from the Q3 2025 results. Honestly, this segmentation gives you the clearest view of where the money is coming from right now.

Revenue Stream Category	Q3 2025 Revenue Amount
Sales of Consumer & Specialties products	$277 million
Sales of Engineered Solutions products	$255 million
Total Worldwide Net Sales (Q3 2025)	$532 million

The sum of those two segments, $277 million plus $255 million, equals the reported $532 million in total Q3 2025 net sales. So, the other revenue sources you mentioned are likely embedded within these segment results, or they represent smaller, non-segment-specific income lines. Still, it's important to list them as distinct value capture mechanisms.

Here are the other ways Minerals Technologies Inc. captures value from its operations and technology:

• Equipment sales and service fees, such as those related to the Minscan® technology for steel customers.
• Royalties and fees derived from proprietary technology licensing and on-site plant operations.

To give you a bit more color on the segments that make up the $532 million in Q3 2025 sales, the Consumer & Specialties segment includes Household & Personal Care, which brought in $130 million, and Specialty Additives, which was $148 million. The Engineered Solutions segment is comprised of High-Temperature Technologies ($179 million in sales) and Environmental & Infrastructure. That's the current revenue architecture you need to map out.