This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cabot Corporation Reports First Quarter EPS Of $0.31, Adjusted EPS Of $0.66

Stocks in this article: CBT

Cabot Corporation (NYSE: CBT) today announced results for its first quarter of fiscal 2013.

Key Highlights

  • Total segment EBIT improves 11% year over year
  • Purification Solutions adds $7 million EBIT in the first quarter
  • Specialty Fluids EBIT sequential decline of $11 million due to lower rental activity
  • Royalties from Elastomer Composites licensing agreement with Michelin running through 2022
     
(In millions, except per share amounts)   First Quarter

2013

   

2012

 
Net sales $ 820 $ 762
Net income attributable to Cabot Corporation $ 20 $ 46
 
Net earnings per share attributable to Cabot Corporation $ 0.31 $ 0.71
Less adjustments:
Net (loss) income per share from discontinued operations $ (0.02 ) $ 0.16
Certain items per share $ (0.33 ) $ (0.08 )
Adjusted EPS $ 0.66 $ 0.63
           

Commenting on the results, Patrick Prevost, Cabot’s President and CEO, said, “Our businesses yielded an improvement in year over year adjusted earnings per share despite the challenging macroeconomic environment. We made significant progress on several strategic initiatives during the quarter. We received royalties and another planned milestone payment from our Elastomer Composites technology licensing agreement with Michelin. It is a significant event as we have entered the next phase of our exclusive agreement for use of our technology in tire applications. The agreement and the associated royalties will extend through 2022. We also experienced a 25% increase in year over year Fumed Metal Oxides volumes through the launch of new products and the utilization of our new capacity. However, we experienced a substantially lower level of activity in our Specialty Fluids Business and a weak economic environment negatively affected our volumes and utilization levels in our Reinforcement Materials and Performance Materials Segments.”

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,653.40 +296.53 1.71%
S&P 500 2,046.37 +33.48 1.66%
NASDAQ 4,723.25 +78.9380 1.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs