Welcome to our dedicated page for Cabot news (Ticker: CBT), a resource for investors and traders seeking the latest updates and insights on Cabot stock.
Cabot Corporation reports developments as a global specialty chemicals and performance materials company serving tire, industrial, battery, coatings, inkjet and advanced-materials markets. Its recurring updates focus on the Reinforcement Materials segment, which supplies reinforcing carbon products for tires and industrial rubber applications, and the Performance Chemicals segment, which includes specialty carbons, specialty compounds, fumed metal oxides, battery materials, inkjet colorants and aerogel.
Company news also covers quarterly operating results, segment EBIT trends, common stock dividends, supply agreements for lithium-ion battery applications, and manufacturing footprint actions. Cabot’s completed acquisition of Mexico Carbon Manufacturing expanded its reinforcing carbon capacity, while EVOLVE Sustainable Solutions updates describe circular reinforcing carbon production capabilities in major regions.
On May 13, 2022, Cabot Corporation (NYSE: CBT) announced a quarterly dividend of $0.37 per share on all outstanding common stock. This dividend will be payable on June 10, 2022, to stockholders of record by the close of business on May 27, 2022. Established in Boston, Cabot specializes in carbon black, specialty carbons, and various performance materials, contributing significantly to multiple industries.
Cabot Corporation (NYSE: CBT) has appointed Raffiq Nathoo to its Board of Directors and Audit Committee, effective May 12, 2022. Nathoo, a seasoned investor with 30 years of experience in investment banking and private equity, was a Senior Managing Director at Blackstone for 14 years. Non-Executive Chair Sue H. Rataj emphasized Nathoo's leadership and financial expertise as key to enhancing the board's oversight of the company's growth strategy. Nathoo expressed enthusiasm for contributing to Cabot's opportunities for growth and advancing its strategy.
Cabot Corporation (NYSE: CBT) reported a strong second quarter for fiscal 2022 with a diluted EPS of $1.84, up 42% year-over-year, and a record adjusted EPS of $1.69, reflecting robust performance in its Reinforcement Materials and Performance Chemicals segments. Net sales rose to $1.092 billion, up from $842 million a year earlier. The company returned $36 million to shareholders through dividends and buybacks and improved its adjusted EPS outlook for the fiscal year to $5.80 to $6.20. Additionally, Cabot achieved a platinum rating in ESG performance for the second consecutive year.
Cabot Corporation (NYSE: CBT) announced the expansion of its Inkjet manufacturing facility in Haverhill, Massachusetts, with a new production line. This expansion is part of a $50 million investment over the next three years to increase capacity for color aqueous pigment dispersions, meeting the growing demand for digital printing solutions. The new line is set to be operational in 2023, enhancing operational efficiencies and supporting the transition to digital printing by offering more sustainable production options.
Cabot Corporation (NYSE: CBT) will release its operating results for Q2 FY2022 on May 2, 2022, after market close. A conference call and webcast will follow on May 3, 2022, at 8:00 AM ET to discuss these results. Investors can access the webcast via Cabot's official website, where an archive of the presentation will also be available. Cabot is a leader in carbon black and specialty chemicals, headquartered in Boston, Massachusetts.
Cabot Corporation (NYSE: CBT) has been awarded a platinum rating by EcoVadis for the second year in a row, putting it in the top 1% of the basic chemicals manufacturing sector. This rating reflects Cabot's strong performance in environmental, social, and governance (ESG) areas, with an outstanding score in the environment category. Cabot aims for net-zero carbon emissions by 2050, emphasizing sustainability as a core company value. Additionally, the company has been recognized in Newsweek's 'America’s Most Responsible Companies' list for three consecutive years.
One Equity Partners has acquired Norit Activated Carbon from Cabot Corporation (NYSE: CBT). Norit, a leader in activated carbon solutions for over 100 years, has a diverse product portfolio catering to sectors like renewable energy, pharmaceuticals, and air quality. The acquisition aims to drive growth through geographic expansion and product diversification. The global activated carbon market is projected to grow at a CAGR of approximately 9%, fueled by rising regulatory standards in purification technologies.
Cabot Corporation (NYSE: CBT) has successfully completed the divestiture of its Purification Solutions business to One Equity Partners. This sale, which generated $257 million in revenue in fiscal 2021, is part of Cabot's strategy to streamline its operations and focus on strengthening core business segments. The company will now operate under two reportable segments: Reinforcement Materials and Performance Chemicals. Cabot's CEO, Sean Keohane, highlighted the transaction as a strategic move to enhance growth plans outlined in their 'Creating for Tomorrow' strategy.
Cabot Corporation has successfully completed the acquisition of Tokai Carbon (Tianjin) Co., Ltd from Tokai Carbon Group. This strategic move enhances Cabot’s manufacturing capabilities, particularly in its Battery Materials sector, with a production capacity of 50,000 metric tons of carbon black annually. The acquisition aims to support the growing demand for lithium-ion batteries, with plans to upgrade the site for battery-grade production by early 2024. Additionally, Cabot is committed to implementing advanced environmental controls in line with local regulations.
Cabot Corporation (NYSE: CBT) has expanded its Engineered Elastomer Composites (E2C™) product line for off-the-road (OTR) tire retreading applications, enhancing performance and sustainability. The E2C solutions can extend the life of retreaded tires by up to 30%, lowering costs and reducing environmental impact. This initiative supports the circular economy by reusing tires instead of discarding them. With a focus on maximizing operational efficiency, Cabot's E2C products are compatible with various mixing processes and have been successfully implemented across North and South America.