Cabot Corp. (CBT) Tops Q1 EPS by 31c

Cabot Corp. (NYSE: CBT) reported Q1 EPS of $1.18, $0.31 better than the analyst estimate of $0.87. Revenue for the quarter came in at $746 million versus the consensus estimate of $697.83 million.

Outlook:

Commenting on the outlook for the Company, Keohane said, “I am very pleased with the excellent start to fiscal 2021. During 2020, we leveraged our strong culture of connectivity and collaboration to support our customers and distinguish Cabot in the marketplace and we will continue to build on these strengths into 2021.”

Keohane continued, “Looking ahead, we believe near-term conditions remain favorable while visibility in the longer term is somewhat limited. We anticipate demand to remain strong in the second quarter with January levels starting the quarter above the prior year. However, we anticipate increasing raw material and fixed costs sequentially and less customer inventory replenishment than we experienced in the first quarter. Based on these factors, we expect adjusted earnings per share in the second fiscal quarter to be between $0.90 and $1.00. This expectation assumes that we will not experience a significant disruption to the ongoing business environment from a COVID-19 resurgence or related factors.”

“Our ability to produce a record quarter in the current environment speaks to Cabot’s capabilities and the commitment and resilience of our global team. While 2020 was a very challenging year, I am optimistic about the future. We stayed committed to our strategy during the year and I believe that Cabot is emerging from the COVID crisis a stronger company,” concluded Keohane.

For earnings history and earnings-related data on Cabot Corp. (CBT) click here.

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