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 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.