Cabot Corp. (CBT) Tops Q1 EPS by 18c, Offers Outlook

Cabot Corp. (NYSE: CBT) reported Q1 EPS of $1.29, $0.18 better than the analyst estimate of $1.11. Revenue for the quarter came in at $968 million versus the consensus estimate of $870.53 million.

Outlook

Commenting on the outlook for the Company, Keohane said, “We are very pleased with our first quarter results, and we feel good about the outlook for the fiscal year. Looking ahead to the remainder of 2022, Reinforcement Materials will benefit from the calendar year 2022 customer agreements. In our Performance Chemicals segment, we anticipate demand growth across our major product lines along with particular strength in battery materials and inkjet packaging. Our outlook for discretionary free cash flow for the full year remains strong and we believe we remain on track with our long-term guidance to generate over $1 billion during the next three years. This robust level of discretionary free cash flow would allow us to fund investments, particularly in our high growth vectors, and return capital to shareholders through dividends and share repurchases. Given the strong first quarter and our expectations for the remainder for the year, we are increasing our outlook for adjusted earnings per share for fiscal year 2022 to now be in the range of $5.50 to $5.90.”

(Consensus sees FY22 EPS of $5.39)

Keohane continued, “As we look ahead to the second quarter of the fiscal year, we expect demand to improve across all of our key product lines and a step up in profitability largely due to the benefit from our 2022 customer agreements. I feel we are off to a good start in executing our “Creating for Tomorrow” strategy and our outlook is in line with meeting our objectives as outlined at our December investor day.”

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

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