Cabot Q4 Profit Beats Street View

(RTTNews) - Cabot Corporation (CBT) Monday reported fourth-quarter profit of $29 million or $0.50 per share, compared to net loss of $272 million or $4.81 per share last year.

Adjusted earnings of the quarter rose to $1.11 per share from $0.68 per share last year.

Net sales for the quarter rose to $904 million from $659 million last year.

Analysts polled by Thomson Reuters estimated earnings of $1.03 per share on revenues of $915.01 million for the quarter.

Commenting on the results, Cabot President and CEO Sean Keohane said, "I am very pleased that we delivered record Adjusted EPS in fiscal 2021, with significant year over year growth across the segments. Reinforcement Materials led the way delivering an increase in EBIT of $167 million while Performance Chemicals also recorded strong results across all major product lines with an increase in segment EBIT of $93 million."

Looking forward to full year 2022, the company expects fiscal year 2022 adjusted earnings of $5.20 to $5.60 per share. Analysts currently estimate earnings of $5.52 per share.