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Mar 31, 2024
Cabot Q2 2024 Earnings Report
Cabot's Q2 2024 financial performance reflected growth in adjusted EPS and strong segment results.
Key Takeaways
Cabot Corporation reported strong second quarter fiscal year 2024 results, with a 34% increase in Adjusted EPS compared to the same quarter in the prior year. The company's Reinforcement Materials segment and Performance Chemicals segment both saw EBIT growth, driven by price and volume improvements. Cabot also increased its quarterly dividend by 8% and repurchased shares, returning cash to shareholders.
Diluted EPS of $1.49 and adjusted EPS of $1.78, which represents a 34% increase in Adjusted EPS as compared to the same quarter in the prior year
Reinforcement Materials segment EBIT of $149 million; up 22% compared to the same quarter in the prior year
Performance Chemicals segment EBIT of $31 million; up 11% compared to the same quarter in the prior year
Cash Flows from Operations of $176 million in the second fiscal quarter supported the return of $47 million of cash to shareholders in the quarter
Cabot
Cabot
Cabot Revenue by Segment
Revenue by Segment
Reinforcement Materials Revenue
CapyFin.comPerformance Chemicals Revenue
CapyFin.com Forward Guidance
Cabot is raising its Adjusted EPS guidance range for the fiscal year to $6.65 to $6.85 from our previously communicated range of $6.30 to $6.80. Reinforcement Materials continues to deliver exceptional results and we are seeing some encouraging demand signals in Performance Chemicals. Our outlook for operating cash flow also remains strong, which would enable us to continue investing in strategic growth projects and to continue returning robust levels of cash to shareholders.
Positive Outlook
- Reinforcement Materials continues to deliver exceptional results
- Encouraging demand signals in Performance Chemicals
- Strong outlook for operating cash flow
- Continue investing in strategic growth projects
- Continue returning robust levels of cash to shareholders
Revenue & Expenses
Visualization of income flow from segment revenue to net income