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Cabot Corporation - CBT STOCK NEWS

Welcome to our dedicated page for Cabot Corporation news (Ticker: CBT), a resource for investors and traders seeking the latest updates and insights on Cabot Corporation stock.

Cabot Corporation (NYSE: CBT), headquartered in Boston, Massachusetts, is a leading global specialty chemicals and performance materials company. It is known for providing innovative performance solutions that address today's challenges and prepare for future needs. Cabot Corp's operations are divided into two main segments, each offering a range of products that are essential across various industries.

Reinforcement Materials Segment: This segment is the company's largest revenue generator. It specializes in rubber-grade carbon black products, which are essential in the manufacturing of hoses, belts, and other rubber products used in the automotive industry. These materials enhance the durability and performance of automotive components, making them indispensable to manufacturers.

Performance Chemicals Segment: This segment focuses on the production of ink-jet colorants and metal oxides. These products are widely used in the automotive and construction industries. Ink-jet colorants are crucial for high-quality printing applications, while metal oxides are used in coatings, adhesives, and sealants, providing superior performance and durability in construction materials.

Recent achievements for Cabot Corporation include strategic partnerships and expansions that have helped the company solidify its market position. Financially, the company has shown resilience with steady revenue streams from its diverse product portfolio. Current projects include innovations in sustainable materials and advanced technology integration to meet evolving industry standards.

Cabot Corporation is dedicated to continuous improvement and sustainability. The company invests in research and development to create products that are not only high-performing but also environmentally friendly. Their commitment to innovation and quality makes them a significant player in the specialty chemicals and performance materials industry.

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Cabot (NYSE: CBT) has announced the release of its third quarter fiscal 2024 operating results on Monday, August 5, 2024, after market close. The company will host a conference call and live webcast to review the results on Tuesday, August 6, 2024, at 8:00 am (ET). Investors and interested parties can access the webcast through Cabot's website at https://cabotog.gcs-web.com/. For those unable to attend the live event, an archived version of the call and accompanying slide presentation will be available on the company's website.

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Cabot has announced the election of Thierry Vanlancker to its Board of Directors, effective July 12, 2024. He will also join the Audit Committee. Vanlancker, formerly the CEO of AkzoNobel from 2017 to 2022, brings over 30 years of experience in the chemical sector. His previous roles include President of Fluoroproducts at Chemours and various positions at Dupont. He is currently serving on the boards of SIKA AG, Aliaxis SA, Stahl, and Etex NV, with significant leadership roles in each. Cabot's Non-Executive Chair, Michael M. Morrow, highlighted Vanlancker's extensive expertise in strategy, product development, and sustainability.

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On July 12, 2024, Cabot (NYSE: CBT) announced a quarterly dividend of $0.43 per share. This dividend will be distributed on September 13, 2024, to shareholders who are on record by August 30, 2024. The consistent dividend highlights the company's commitment to returning value to its shareholders. Investors should note the record and payment dates to ensure eligibility for the dividend payout.

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Cabot (NYSE: CBT) announced that 19 of its 20 carbon black facilities received recognition from the International Carbon Black Association (ICBA) for outstanding safety performance in 2023. Specifically, 18 facilities were awarded the gold award, while one received the bronze award. This recognition means Cabot secured over half of the awards granted industry-wide, including the highest percentage of gold-level awards.

Bart Kalkstein, executive vice president and president of Cabot’s Reinforcement Materials Segment and Americas Region, emphasized the company's dedication to health and safety. He praised the global teams for their efforts in ensuring workplace safety. The ICBA’s Safety Performance Recognition Program highlights facilities with excellent safety records and promotes best safety practices across the industry.

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Cabot released its 2024 Sustainability Report detailing progress towards its 2025 Sustainability Goals.

Key achievements include industry-leading safety performance with a Total Recordable Incident Rate of 0.20, significant reductions in greenhouse gas emissions, and the launch of innovative products under the EVOLVE® Sustainable Solutions platform.

The report highlights the achievement of nine sustainability goals ahead of schedule and the company's acquisition of ISCC PLUS certification at seven sites globally.

Cabot continues to focus on reducing Scope 1 and Scope 2 GHG emissions and completed a comprehensive inventory of its Scope 3 emissions in 2023.

For more details, visit cabotcorp.com/sustainability.

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Cabot (NYSE: CBT) has achieved Operation Clean Sweep (OCS) Europe certification at its masterbatch and compounding facilities in Pepinster and Loncin, Belgium. This certification underscores Cabot's commitment to sustainable plastic management, making it one of the first black masterbatch manufacturers in Europe to earn this recognition. The certification, advocated by industry associations Plastics Europe and the European Plastics Converters (EuPC), highlights Cabot's efforts to reduce plastic waste and prevent material spillage in the environment. Jeff Zhu, executive vice president, emphasized Cabot's proactive approach in minimizing plastic waste through stringent management practices. Since 2019, Cabot has supported OCS protocols, incorporating comprehensive plans for facility assessments, employee training, and continuous improvement in plastic management practices.

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Cabot (NYSE: CBT) has been awarded a platinum rating by EcoVadis for the fourth consecutive year, placing it among the top 1% of over 130,000 companies assessed worldwide.

The rating recognizes Cabot's outstanding performance in environmental, social, and governance (ESG) efforts, particularly its sustainability management system and transparency across its value chain.

Cabot received the highest score of 'outstanding' in the environment category, reflecting its leadership in sustainability. The company also achieved improved scores from CDP, securing 'B' ratings in climate change and water security, and a 'B-' in supplier engagement.

Cabot's commitment to decarbonization, resource conservation, and the circular economy was emphasized by CEO Sean Keohane and Chief Sustainability Officer Martin O'Neill, who highlighted the company's continuous improvements and dedication to a more sustainable future.

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Cabot has launched new REPLASBLAK® universal circular black masterbatches with ISCC PLUS certified content, powered by EVOLVE® Sustainable Solutions. The products aim to meet the industry's need for sustainable solutions, supporting a circular economy and reducing GHG emissions. These masterbatches, made from mechanically recycled polymer, offer high performance, quality, and reliability for coloring a wide range of polymers in automotive applications. The solutions enable material management efficiency, high gloss, and superior color performance, making them suitable for various automotive segments.

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Cabot (NYSE: CBT) reported a strong performance in the second quarter of fiscal year 2024 with a diluted EPS of $1.49 and an adjusted EPS of $1.78, marking a 34% increase in adjusted EPS year-over-year. The company saw growth in both the Reinforcement Materials and Performance Chemicals segments. Cash flows from operations were $176 million, supporting a return of $47 million to shareholders. Cabot also increased its quarterly dividend by 8% to $0.43 per share.

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The Board of Directors of Cabot (NYSE: CBT) has declared an 8% increase in the quarterly dividend to $0.43 per share, reflecting positive long-term business fundamentals and strong cash flow generation. The dividend is payable on June 14, 2024, to stockholders of record at the close of business on May 31, 2024.

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FAQ

What does Cabot Corporation do?

Cabot Corporation is a global specialty chemicals and performance materials company. They produce rubber-grade carbon black products, ink-jet colorants, and metal oxides.

Where is Cabot Corporation headquartered?

Cabot Corporation is headquartered in Boston, Massachusetts.

What are the main segments of Cabot Corporation?

The two main segments of Cabot Corporation are the Reinforcement Materials segment and the Performance Chemicals segment.

What products are included in the Reinforcement Materials segment?

The Reinforcement Materials segment includes rubber-grade carbon black products used in hoses and belts in the automotive industry.

What industries use products from the Performance Chemicals segment?

The Performance Chemicals segment supplies products to the automotive and construction industries.

What recent achievements has Cabot Corporation made?

Recent achievements include strategic partnerships and expansions that have helped strengthen its market position.

How does Cabot Corporation contribute to sustainability?

Cabot Corporation invests in research and development to create high-performing, environmentally friendly products.

What is the focus of Cabot Corporation’s current projects?

Current projects focus on innovations in sustainable materials and advanced technology integration.

How does Cabot Corporation ensure product quality?

Cabot Corporation is committed to continuous improvement and invests in research and development for high-quality products.

What is the significance of Cabot Corporation in its industry?

Cabot Corporation is a significant player due to its innovative solutions, diverse product range, and commitment to sustainability.

Cabot Corporation

NYSE:CBT

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5.25B
55.26M
1.14%
94.93%
3.56%
Other Basic Inorganic Chemical Manufacturing
Manufacturing
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United States of America
BOSTON