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Cabot Corporation Reports Fiscal 2012 EPS Of $6.01, Adjusted EPS Of $3.34

Stocks in this article: CBT

Cabot Corporation (NYSE: CBT) today announced results for its fourth quarter and full fiscal year 2012.

Key Highlights

  • Strong fiscal year-over-year performance continues with 37% adjusted EPS improvement
  • Value pricing drives 16% improvement in fiscal year Total Segment EBIT despite lower volumes
  • Integration of Norit proceeding well
  • Macroeconomic environment remains challenging
(In millions, except per share amounts)     Fiscal 2012     Fiscal 2011

Fourth Quarter


Full Year


Fourth Quarter


Full Year

Net sales $ 848 $ 3,300 $ 833 $ 3,102
Net income attributable to Cabot Corporation $ 37 $ 389 $ 50 $ 236
Net earnings per share attributable to Cabot Corporation $ 0.58 $ 6.01 $ 0.76 $ 3.57
Less Adjustments:
Net income per share from discontinued operations $ 0.02 $ 3.16 $ 0.12 $ 0.80
Certain items per share $ (0.19 ) $ (0.49 ) $ 0.09 $ 0.34
Adjusted EPS     $ 0.75       $ 3.34       $ 0.55     $ 2.43

Commenting on the results, Patrick Prevost, Cabot’s President and CEO, said, “In 2012, we continued our transformation to a higher margin, specialty chemicals focused company, delivering adjusted EPS of $3.34 and a 16% Total Segment EBIT improvement. We delivered a record $508 million of adjusted EBITDA in fiscal 2012, despite a challenging economic environment. We achieved this performance with our ongoing focus on value pricing, operational efficiency and improvement in our product mix. We completed strategic capacity expansions in Reinforcement Materials, Performance Materials and Advanced Technologies and launched a number of innovative new products to the market. In addition, we transformed our portfolio of businesses with the acquisition of Norit, a global leader in purification solutions, and the divestiture of the tantalum business. We are well positioned for the future with an attractive group of leading businesses.”

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