Cabot reports Q1 EPS 1.76, consensus $1.77

Reports Q1 revenue $955M, consensus $997.1M. Sean Keohane, Cabot (CBT) President and Chief Executive Officer commented: “We continued to execute against our Creating for Tomorrow strategy, delivering another quarter of strong results and in-line with our expectations. The Cabot team demonstrated operational excellence and agility in a challenging market environment, resulting in Adjusted EPS of $1.76, up 13% year-over-year. The Reinforcement Materials segment continued to demonstrate its resilience, delivering year over year and sequential EBIT growth. EBIT in the segment of $130 million was driven by volume growth in Asia Pacific and Europe, Middle East and Africa. Performance Chemicals segment EBIT grew 32% year over year largely due to improved volumes, which have reconnected to underlying demand drivers in key end markets.” Keohane continued, “During the first quarter, we delivered strong operating cash flow of $124 million, and we used