Cabot Corp. - CBT STOCK NEWS

Cabot (CBT) will announce its second-quarter fiscal 2024 operating results on May 6, 2024, followed by a conference call and webcast on May 7, 2024. The webcast will be hosted on Cabot's website.

Cabot (NYSE: CBT) wins the Tire Technology International 2024 Awards for 'Chemicals and Compounding Innovation of the Year' for its E2C DX9660 elastomer composite. The innovative solution offers performance and sustainability benefits for tire customers globally, showcasing a 30% increase in abrasion resistance without compromising rolling resistance. Cabot's E2C solutions aim to deliver high-quality dispersions and sustainable reinforcement agents for various tire and industrial applications.

Cabot (NYSE: CBT) launches PROPEL E8 engineered reinforcing carbon black to enhance durability and efficiency in electric vehicle and high-performance tire formulations. The product aims to address challenges posed by EVs, such as increased tire wear, by providing low rolling resistance and increased tread durability.

Cabot Corporation (NYSE: CBT) announced its first quarter fiscal year 2024 results, reporting diluted earnings per share of $0.88 and adjusted EPS of $1.56. The Reinforcement Materials segment EBIT increased by 37%, reaching $129 million, while the Performance Chemicals segment EBIT grew 17% year over year, reaching $34 million. Cash Flows from Operations amounted to $105 million, with $55 million returned to shareholders through dividends and share repurchases. The company was recognized by Newsweek as one of America’s Most Responsible Companies 2024 for the fifth consecutive year. Net sales and other operating revenues for the quarter were $958 million, with net income of $50 million. Adjusted EPS for the quarter was $1.56. The Reinforcement Materials segment EBIT increased by $35 million compared to the prior year, with global volumes increasing by 2%. Performance Chemicals segment EBIT grew by $5 million, driven by 10% higher volumes. The company ended the quarter with a cash balance of $244 million. The tax expense for the quarter was $34 million with an effective tax rate of 36%. The outlook for adjusted earnings per share for fiscal year 2024 remains in the range of $6.30 to $6.80, representing a 22% increase compared to fiscal 2023.

Cabot Corporation (CBT) announced a quarterly dividend of $0.40 per share on all outstanding shares of the Corporation’s common stock, payable on March 8, 2024, to stockholders of record at the close of business on February 23, 2024.

Cabot Corporation (NYSE: CBT) will release its first quarter fiscal 2024 operating results on February 5, 2024, after market close. The company will host a conference call and live webcast to review the results on February 6, 2024, at 8:00 am (ET). The webcast can be accessed at Cabot's website, and the archived presentation will be available on the company's website.

Cabot Corporation (NYSE: CBT) has been recognized by Newsweek as one of America’s Most Responsible Companies 2024 for the fifth consecutive year. This award highlights Cabot's commitment to environmental, social, and corporate governance (ESG) performance. The company's dedication to sustainability, resource conservation, and innovation in the circular economy has contributed to its leadership in sustainability. The selection process involved a four-phase evaluation, including publicly available key performance indicators and an independent survey of U.S. citizens.

Cabot Corporation (NYSE:CBT) Declares $0.40 Quarterly Dividend

Cabot Corporation (NYSE: CBT) reported its fourth quarter and fiscal year 2023 results. The company achieved a fiscal year 2023 diluted EPS of $7.73 and adjusted EPS of $5.38. The Reinforcement Materials segment EBIT reached a record $482 million. Cash flows from operations were $138 million in the fourth quarter. Cabot returned $73 million to shareholders through dividends and share repurchases.