Cabot reports Q3 adjusted EPS $1.42, consensus $1.54

Reports Q2 revenue $968M, consensus $1.09B. Sean Keohane, Cabot President and Chief Executive Officer, commented on the quarter: “Despite a weak demand environment and an increase in our operating tax rate, adjusted EPS was up 7% sequentially in the third quarter. Reinforcement Materials delivered record EBIT of $132 million driven by year-over-year improvement in pricing and product mix from our calendar year 2023 customer agreements, despite volume declines across all regions. As we communicated in June, the market environment remained challenging for Performance Chemicals during the quarter as demand across all product lines, excluding battery materials, continued to be weak and the pace of recovery in China remained slow.”