Cabot reports Q4 adjusted EPS $1.65, consensus $1.48

Reports Q4 revenue $965M, consensus $991.48M. Sean Keohane, Cabot President and Chief Executive Officer commented: “I am pleased that we were able to deliver adjusted EPS of $1.65 in the fourth quarter, which represents a 6% year-over-year improvement and the strongest quarter of our fiscal year 2023. We delivered adjusted EPS of $5.38 for fiscal year 2023 despite lower demand in key end markets, a weak environment in China, and significant levels of customer destocking. We proactively navigated a challenging macro-environment by implementing strict cost management measures and demonstrating strong commercial execution to sustain robust margins. I am also pleased with the strong cash performance in the fiscal year, where we generated $595 million in operating cash flow. We used this robust cash flow generation to maintain our assets, invest for growth and return cash to shareholders. We paid $88 million in dividends, including an 8% increase announced in May, and we repurchased $98 million of shares. We also made significant strides in our sustainability agenda with the launch of our EVOLVE(R) Sustainable Solutions technology platform during the year, which we believe presents an exciting opportunity to offer our customers sustainable reinforcing carbons and other materials to meet their needs for increased circularity.”