Cabot raises FY24 adjusted EPS view to $6.65-$6.86, consensus $6.65

Previous view $6.30-$6.80. Commenting on the outlook for the Company, Keohane said, “Given the strong year-to-date results and our expectations for the second half of fiscal 2024, we are raising our 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. This updated guidance range reflects an increase of $0.20 at the midpoint. Reinforcement Materials continues to deliver exceptional results and we are seeing some encouraging demand signals in Performance Chemicals.” Keohane continued, “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. As noted earlier, we increased our dividend today by 8% and we expect to continue to opportunistically repurchase shares. I am confident in our strategy and execution capability and our expectation to achieve the three-year consolidated financial objectives that we outlined at our December 2021 investor day.”