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.
Cabot Corporation (NYSE: CBT) has announced its definitive agreement to acquire Tokai Carbon (Tianjin) Co., Ltd. for $9 million, aimed at bolstering its Battery Materials product line. The acquisition will allow Cabot to leverage Tokai's existing facility in Tianjin, which produces up to 50,000 metric tons of carbon black annually. This move is strategically aligned with the growing demand for lithium-ion batteries, enhancing production capabilities for advanced battery-grade materials.
On November 12, 2021, Cabot Corporation (NYSE: CBT) announced a quarterly dividend of $0.37 per share, marking a 6% increase from the previous dividend. This dividend will be payable on December 10, 2021, to stockholders of record by the close of business on November 26, 2021. The annualized dividend rate now stands at $1.48 per share, an increase from $1.40. Cabot's consistent dividend payments for over 50 years underscore its commitment to providing shareholder value.
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Cabot Corporation (NYSE: CBT) reported a strong fiscal 2021, achieving a GAAP EPS of $4.34 and record Adjusted EPS of $5.02. Key drivers included Reinforcement Materials EBIT of $329 million and Performance Chemicals EBIT of $211 million. Fourth quarter results showed net sales of $904 million, a significant increase from $659 million YoY. The company experienced solid growth in all segments, notably doubling Battery Materials revenue. Liquidity remains robust at $1.3 billion, with a Net Debt to EBITDA ratio declining to 1.6 times. Looking ahead, Cabot anticipates strong end-market demand and adjusted EPS of $5.20 to $5.60 for fiscal 2022.
Cabot Corporation (NYSE: CBT) has launched the VULCAN® 3-LP carbon black, enhancing its Cabot LP carbon black series for rubber applications. This low polycyclic aromatic hydrocarbon (PAH) product meets stringent regulatory standards, making it suitable for consumer rubber goods and food contact items. The VULCAN 3-LP carbon black is designed for increased strength and resistance in rubber products, showcasing Cabot's commitment to innovation and regulatory compliance. This addition provides clients with flexible options that adhere to evolving safety standards.
Cognizant (Nasdaq: CTSH) has partnered with Cabot Corporation (NYSE: CBT) to revamp Cabot's digital operating model. This collaboration will see Cognizant providing managed services in Application Development, Maintenance, and Infrastructure. The initiative aims to enhance Cabot's efficiency and drive its digital strategy, utilizing technologies such as AI, automation, and cloud services. Cabot’s Vice President emphasized Cognizant's strong reputation and capability in delivering transformational programs, which are essential for achieving their strategic growth goals.
Cabot Corporation (NYSE: CBT) will release its fourth quarter operating results for fiscal 2021 on November 8, 2021, post market hours. A conference call and live webcast will occur on November 9, 2021, at 8:00 am ET to discuss the results. The call will be available on Cabot's website, with an archived presentation for those unable to attend live. Cabot is a global leader in specialty chemicals, providing products such as rubber, specialty carbons, and activated carbon.
Cabot Corporation (NYSE: CBT) will host an Investor Day on December 2, 2021, at 9:30 a.m. ET in Boston, Massachusetts, where CEO Sean D. Keohane and the executive team will discuss core business drivers and strategic initiatives, focusing on sustainability, innovation, and capital allocation.
The event will be held at the Intercontinental Hotel and available virtually. Registration details will be shared later. A live webcast will include video and Q&A sessions, with an archived version available post-event.
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Cabot Corporation (NYSE: CBT) reported a strong third quarter for fiscal 2021, achieving a GAAP EPS of $1.48, up from a loss of $0.12 year-over-year. Adjusted EPS also rose to $1.35 from a loss of $0.07. Net sales increased to $917 million, driven by robust demand across various sectors, particularly in energy materials for lithium-ion batteries. The company maintains strong liquidity of approximately $1.3 billion, with a debt to EBITDA ratio of 1.9 times. The adjusted EPS guidance for the fiscal year is now expected to be between $4.85 and $5.05.