Cabot Corp. (CBT) Tops Q2 EPS by 41c

Cabot Corp. (NYSE: CBT) reported Q2 EPS of $1.38, $0.41 better than the analyst estimate of $0.97. Revenue for the quarter came in at $842 million versus the consensus estimate of $787.67 million.

GUIDANCE:

Cabot Corp. sees FY2021 EPS of $4.70-$4.95, versus the consensus of $4.07.

• In summarizing the quarter and looking forward to the remainder of the year, Keohane said, “Our ability to deliver a second consecutive quarter of record adjusted EPS reflects the strength of our portfolio, the agility of our supply chain network and the value customers place on Cabot’s product offerings. We continue to execute on our strategy and target growth initiatives, and believe we are well positioned to deliver record adjusted earnings per share for the 2021 fiscal year. I am proud of the way the Cabot team is responding to the needs of our customers and the challenges brought on by the pandemic, and I believe that Cabot is emerging from the COVID crisis a stronger company.”
• “Looking ahead to the second half of the fiscal year, we anticipate continued demand strength across our segments. We also expect some impact from the flow-through of higher raw material costs in Asia, moderating volumes into automotive applications due to the semi-conductor chip shortage and increased fixed costs due to the timing of scheduled maintenance activities. With these factors in mind, we expect adjusted earnings per share for the full fiscal year of 2021 to be in the range of $4.70 to $4.95.”
• “Cabot has established tremendous momentum through the first half of fiscal 2021, which we intend to build on throughout the remainder of the fiscal year and in the years ahead. We are taking decisive actions to optimize our performance amid the current environment while we continue to invest in our ability to deliver growth in shareholder value over the longer-term,” concluded Keohane.

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

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