Cabot: Fiscal 4Q Earnings Snapshot
BOSTON (AP) _ Cabot Corp. (CBT) on Monday reported fiscal fourth-quarter profit of $33 million.
The Boston-based company said it had net income of 55 cents per share. Earnings, adjusted for non-recurring costs, were $1.05 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The chemical company posted revenue of $827 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $847.8 million.
For the year, the company reported net income of $157 million, or $2.63 per share, swinging to a profit in the period. Revenue was reported as $3.34 billion.
Cabot expects full-year earnings in the range of $3.60 to $4.10 per share.
Cabot shares have climbed 12% since the beginning of the year. In the final minutes of trading on Monday, shares hit $48.16, a fall of almost 8% in the last 12 months.