Cabot Corp. (CBT) Tops Q3 EPS by 17c, Offers Guidance

Cabot Corp. (NYSE: CBT) reported Q3 EPS of $1.35, $0.17 better than the analyst estimate of $1.18. Revenue for the quarter came in at $917 million versus the consensus estimate of $804.81 million.

GUIDANCE:

Cabot Corp. sees FY2021 EPS of $4.85-$5.05, versus the consensus of $4.92.

• Commenting on the outlook for the Company, Keohane said, “Given the exceptional year to date results and our expectations for the fourth quarter, we are increasing our outlook for the year, and we expect adjusted earnings per share for fiscal year 2021 to be in the range of $4.85 to $5.05. As we look ahead to the fourth quarter of the fiscal year, we expect demand to remain strong across the segments. We are also anticipating an elevated level of fixed costs as compared to the third quarter due to the timing of maintenance activities, unfavorable impacts associated with plant outages, and higher feedstock differentials.”
• Keohane continued, “I am excited about the strong fundamentals of our businesses and performance momentum we have demonstrated. Looking forward, these factors and our growth investments position us well for fiscal 2022 and the coming years.”

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

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