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