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 (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The Cabot news feed on Stock Titan aggregates company announcements, earnings releases and operational updates that help investors and industry observers follow developments in reinforcing carbons, specialty carbons, battery materials and related performance materials.
Recent Cabot news includes quarterly and annual financial results, where the company reports net sales, earnings per share, segment EBIT and regional volume trends for its Reinforcement Materials and Performance Chemicals segments. These releases often discuss demand conditions in the Americas, Europe, the Middle East and Africa, and Asia Pacific, as well as macroeconomic and trade factors affecting volumes in tire, auto-related and construction-related applications.
Cabot also issues news on strategic agreements and growth initiatives. For example, the company has announced a multi-year supply agreement with PowerCo SE, a battery manufacturing subsidiary of Volkswagen Group, to supply advanced conductive carbons and conductive dispersions for lithium-ion battery electrodes. It has reported on an agreement to acquire Mexico Carbon Manufacturing S.A. de C.V. from Bridgestone Corporation to expand reinforcing carbons capacity in Mexico, and on enhancements to manufacturing capabilities for circular reinforcing carbons under its EVOLVE Sustainable Solutions technology platform.
Other Cabot news items cover sustainability milestones, such as progress against sustainability goals and expansion of ISCC PLUS certified sites, as well as corporate actions including dividends, share repurchases, executive appointments and board-related matters disclosed through press releases and Form 8-K filings. Investors who follow CBT news can review these updates to understand how Cabot is managing its reinforcing carbons and performance chemicals businesses, advancing sustainable materials and engaging in capital allocation. Bookmarking the Cabot news page on Stock Titan allows users to monitor new earnings releases, strategic transactions, sustainability announcements and governance developments as they are reported.
Cabot Corporation (NYSE: CBT) announced the retirement of Mark S. Wrighton from its Board of Directors, effective at the Annual Meeting of Stockholders on March 11, 2021. Wrighton, a board member since 1997, has been instrumental in guiding the company with his extensive knowledge and experience. His contributions include serving on the Compensation Committee and previously on the Safety, Health, Environment, and Sustainability Committee. Wrighton's retirement marks a significant change in the board, as he has been a key figure in overseeing Cabot's technological advancements and public company management.
Cabot Corporation (NYSE: CBT) has declared a quarterly dividend of $0.35 per share on its common stock. This dividend will be payable on March 12, 2021, to stockholders on record as of February 26, 2021. Headquartered in Boston, Cabot is a global leader in specialty chemicals and performance materials, including products such as carbon black and activated carbon. The announcement underscores the company’s commitment to returning value to shareholders amidst its diverse portfolio and market presence.
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Cabot Corporation (NYSE: CBT) reported a fourth quarter net loss of $272 million ($4.81 per share) for fiscal 2020, down from a profit of $33 million in the previous year. Adjusted EPS stood at $0.68, compared to $1.05 last year. Despite a strong operating cash flow of $99 million for the quarter, net sales decreased to $659 million from $827 million. The company sold its lignite mine in Texas as part of a transformational strategy. Looking forward, Cabot expects improved EBIT and adjusted EPS between $0.80 and $0.90 for Q1 2021, contingent on ongoing economic recovery.
Cabot Corporation (NYSE: CBT) has announced a quarterly dividend of $0.35 per share on all outstanding common stock. This dividend is payable on December 11, 2020, to shareholders recorded by the close of business on November 27, 2020. As a leader in specialty chemicals and performance materials, Cabot provides essential products like carbon black and activated carbon. The company emphasizes its commitment to shareholder returns through consistent dividend payments.
Cabot Corporation has launched FX9390, a new Engineered Elastomer Composites product within its E2C Foundation series. FX9390 enhances tire performance for off-the-road mining applications, improving cut, chip, and chunk resistance, heat buildup, and abrasion resistance. The product allows for flexible tire compound formulation and can be integrated into existing production lines without additional capital investment. Additionally, FX9390 requires up to 50% less mixing energy and time, streamlining the manufacturing process.
Cabot Corporation has updated its business results for the fourth quarter of fiscal 2020, reporting an expected EBIT of $59 million for Reinforcement Materials, a 56% increase in volumes compared to Q3. The Performance Chemicals segment is projected to generate $25 million in EBIT, with modest volume increases. Purification Solutions is expected to break even. Additionally, cash flow from operations is anticipated at $100 million for Q4 and $250 million for the second half of the fiscal year, exceeding prior estimates. The release date for detailed operating results has been rescheduled to November 23, 2020.
Cabot Corporation (NYSE: CBT) plans to release its fourth quarter and fiscal year 2020 operating results on November 9, 2020, after market close. A conference call will be held on November 10, 2020, at 8:00 am ET to discuss the results. Investors can access the call via the company’s website, where it will also be archived for later viewing. Cabot is a leader in specialty chemicals, offering products such as rubber, activated carbon, and specialty carbons.
Cabot Corporation (NYSE: CBT) announced a long-term supply agreement with ADA Carbon Solutions for lignite-based activated carbon products. As part of this agreement, Cabot Norit will sell its lignite mine in Marshall, TX to ADA. The mine closure will mostly be funded by ADA, with Cabot’s cash outlay capped at $10 million over 14 years. Additionally, Cabot will idle activation kilns at its Marshall facility. The transaction is expected to result in a pre-tax charge of approximately $129 million, but will yield $5 million in annual cash benefits and a $10 million annual EBIT improvement.
Group14 Technologies, based in Woodinville, WA, has been awarded $3.96 million by the DOE as part of the Energy Storage Grand Challenge. The funding is aimed at enhancing lithium-ion battery performance for various applications including electric vehicles and consumer electronics. Group14, working with partners like Cabot Corporation, aims to develop their patented Scaffold Prime™ technology to meet escalating demands for high-capacity batteries. This recognition underscores their innovative approach in the energy storage sector.