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Jun 30, 2024
Cabot Q3 2024 Earnings Report
Cabot's financial performance improved with increased EPS and strong segment results.
Key Takeaways
Cabot Corporation reported a strong third quarter in fiscal year 2024, with adjusted EPS of $1.92, a 35% increase compared to the prior year. The company saw strength in its Reinforcement Materials segment and a significant EBIT increase in the Performance Chemicals segment. Operating cash flow was $207 million, supporting $73 million returned to shareholders.
Diluted EPS was $1.94 and Adjusted EPS was $1.92, representing a 35% increase in Adjusted EPS compared to the prior year.
Reinforcement Materials segment EBIT was $136 million, up 3% year-over-year.
Performance Chemicals segment EBIT was $55 million, up 72% compared to the prior year.
Cash Flows from Operations were $207 million, supporting the return of $73 million of cash to shareholders.
Revenue by Segment
Forward Guidance
Cabot raised its adjusted EPS guidance range for fiscal 2024 to $7.00 to $7.10, reflecting improved results in the Performance Chemicals segment and continued strong results in the Reinforcement Materials segment.
Positive Outlook
- Expectations for improved results in the Performance Chemicals segment from higher demand.
- Expectations for a more favorable product mix in Performance Chemicals.
- Continued strong results in the Reinforcement Materials segment.
- On track to deliver greater than 30% year-over-year adjusted EPS growth.
- Strong cash flow and disciplined approach to capital allocation.
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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