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Mar 31, 2023
Cabot Q2 2023 Earnings Report
Cabot's operating performance led to adjusted EPS significantly higher than the first quarter and in-line with expectations.
Key Takeaways
Cabot Corporation reported Q2 fiscal year 2023 results with adjusted EPS of $1.33. The Reinforcement Materials segment achieved a record EBIT of $122 million, up 21% year-over-year. The company's cash flow from operations was $162 million, supporting a return of $37 million to shareholders through dividends and share repurchases. The quarterly dividend was increased to $0.40 per share, an 8% increase.
Reinforcement Materials segment EBIT was a record $122 million, up 21% year-over-year.
Cash Flows from Operations were $162 million.
Returned $37 million to shareholders through dividends and share repurchases.
Increased quarterly dividend to $0.40 per share, up 8% over the prior dividend.
Revenue by Segment
Forward Guidance
Cabot expects adjusted EPS for the fiscal year to be in the range of $6.10 to $6.50.
Positive Outlook
- Underlying demand improved in the second quarter as compared to the first quarter of the fiscal year.
- Reinforcement Materials continues to perform extremely well.
- The outlook for the Reinforcement Materials segment remains robust.
- Demand in Performance Chemicals is improving sequentially.
- Demand in Performance Chemicals is expected to continue through the fiscal year.
Challenges Ahead
- The pace of demand recovery and volume momentum across Performance Chemicals end markets is slower than what was expected last quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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