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 (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.
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