MTI revenues fall as energy segment takes hit

By Myles McCormick
Published: Friday, 05 August 2016

The diversified industrials producer saw sales in its energy services segment fall dramatically in Q2, extending the trend seen in Q1, as other segments remained static. PCC sales fell slightly as a result of US closures while refractories saw a productivity boost.

NYSE-listed Minerals Technologies Inc. (MTI) reported an 8% year-on-year (y-o-y) drop in sales for Q2 2016 at $427m.

The decline was primarily the result of a 59% drop in revenue in its energy services division, which continues to struggle as a result of the weakness in the oil and gas sector....

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