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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.
Cabot
Cabot
Cabot Revenue by Segment
Revenue by Segment
Reinforcement Materials Revenue
CapyFin.comPerformance Chemicals Revenue
CapyFin.com 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