Cabot: Fiscal 4Q Earnings Snapshot

November 4, 2019

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBT at https://www.zacks.com/ap/CBT