CBT
Cabot Corporation68.00
-0.70-1.02%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Q&A reaffirms; flags Jan volume uptick.
Q&A largely reaffirmed the prepared remarks on Reinforcement Materials pricing and volume pressures from tire imports, with management noting January Americas volumes up year-over-year and sequentially 15% amid seasonal recovery. No material hit from Dow's silanes closure, as Cabot secured compensation, while Europe silicas weakness ties to housing slumps. Minimal tariff exposure from small cross-regional Performance Chemicals flows. Mexico acquisition bolsters Bridgestone partnership for tire growth there, fitting capacity rationalization plans. Battery Materials details stayed qualitative, emphasizing PowerCo's strategic incumbency. Volumes perked up early. Investors will eye trade measures' bite on imports and battery ramp.
Key Stats
Market Cap
3.62BP/E (TTM)
11.30Basic EPS (TTM)
6.02Dividend Yield
0.03%Recent Filings
8-K
Annual meeting votes passed
Cabot Corporation's stockholders unanimously elected Sean D. Keohane, Raffiq Nathoo, and Thierry Vanlancker to its board on March 12, 2026, with terms expiring in 2029; existing directors' terms continued. Say-on-pay won strong approval at 44.8 million for votes. Auditors Deloitte ratified overwhelmingly. Routine refresh.
10-Q
Q1 FY2026 results
Cabot's Q1 FY2026 sales fell 11% y/y to $849M, driven by lower volumes and pricing in Reinforcement Materials ($520M, down from $611M), yet Performance Chemicals edged up to $48M EBIT from $45M on better mix. Operating income dropped to $129M from $155M; diluted EPS landed at $1.37 on 52.9M shares, reconciling cleanly. Cash from operations held steady at $126M, funding $69M capex; free cash flow not disclosed in the 10-Q. Debt steady around $1.1B with $1.2B revolver availability and $230M cash. Shares repurchased: $52M. Restructuring hit $7M in Performance Chemicals. Respirator liabilities linger at $33M reserved.
8-K
Q1 adjusted EPS $1.53, down 13%
Cabot reported Q1 FY2026 adjusted EPS of $1.53, down 13% year-over-year, as Reinforcement Materials EBIT plunged 22% to $102 million on 7% lower global volumes, while Performance Chemicals EBIT rose 7% to $48 million via battery materials strength. Signed multi-year supply deal with PowerCo SE for conductive carbons. Cash flow hit $126 million, funding $76 million shareholder returns. Full-year adjusted EPS narrowed to $6.00-$6.50.
8-K
Cabot rebalances board classes
Cabot Corporation rebalanced its board into three equal classes ahead of the 2026 Annual Meeting. Directors Juan Enriquez and William C. Kirby's terms expire then; Thierry Vanlancker resigned conditionally on January 8, 2026, for re-nomination with a term to 2029. Board refreshment stays procedural. No business impact disclosed.
10-K
FY2025 results
Cabot's FY2025 net sales fell 7% to $3.7B, with Reinforcement Materials down 10% on lower volumes from tariff uncertainty and macro weakness, while Performance Chemicals held flat. Segment EBIT stayed resilient at $702M, as RM's $508M edged down 5% but PC surged 18% to $194M on fumed metal oxides and battery materials strength. Operating cash flow topped $665M, funding $274M capex, $168M buybacks, and $96M dividends. Q4 repurchases totaled 500K shares. China sales were 25% of revenue. Stricter emissions rules threaten capex and costs.
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