Cabot Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.

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.