Minerals Technologies Inc (MTX) Q1 2019 Earnings Call Transcript
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Minerals Technologies Inc (NYSE: MTX)
Q1 2019 Earnings Call
May. 03, 2019, 11:00 a.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:

Operator

Good day, everyone, and welcome to the First Quarter 2019 Minerals Technologies Earnings Call. Today's call is being recorded. And at this time, I would like to turn the call over to Cindi Buckwalter, Head of Investor Relations for Minerals Technologies. Please go ahead, Ms. Buckwalter.

Cindi Buckwalter -- Head of Investor Relations

Thank you, Savannah. Good morning, everyone, and welcome to our First Quarter 2019 Earnings Conference Call. Today's call will be led by Chief Executive Officer, Doug Dietrich; and Chief Financial Officer, Matt Garth. Following Doug and Matt's prepared remarks, we will open it up for questions. I would like to remind you that beginning on Page 14 of our 2018 10-K, we list the various risk factors and conditions that may affect our future results. And I'll also point out the safe harbor disclaimer on the slide. Statements related to future performance by members of our team are subject to these limitations, cautionary remarks, and conditions.

Now I'll turn the call over to Doug. Doug?

Douglas T Dietrich -- Chief Executive Officer

Thanks for the introduction, Cindi, and good morning, everyone. I'll start the call today by covering the highlights from our first quarter including a number of factors that impacted our results both positively and negatively. I'll then take some time to provide an overview of our operating environment and the current state of our end markets as well as the trends we're seeing. After that, I'll turn it over to Matt to review our financials. The first quarter of every year is usually our most volatile and this one was no exception. I'll characterize the quarter as a productive one for us marked by our team's solid performance navigating through several market and operating challenges. On the market side, we experienced a slow start to 2019 most notably in China and Europe as well as in the building and construction markets in North America,

While these factors were most pervasive in the first two months, conditions improved for us in March when we saw a noticeable uptick in business activity as demand picked up across our markets and geographies. We executed on several strategic fronts during the quarter. Specifically, we delivered solid geographic growth, increased volumes through new capacity expansions, and generated sales from recently introduced value-added products that gained traction with customers. Additionally, we extended our large -- larger global position in pet care through Sivomatic's strong performance in Europe. From a financial perspective, total sales in the quarter increased 1% over last year to $438 million and were up 4% on a constant currency basis. We generated $62 million of operating income with double-digit margins across all segments and delivered earnings per share of $1.11.