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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Cabot Corp Reports Third Quarter Adjusted EPS Of $0.84 And Diluted EPS Of $0.90

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

Key Highlights

  • Total Segment EBIT increased 25% sequentially and 2% year over year as demand improved in many of our end markets
  • Record Advanced Technologies segment operating results
  • Reduced net working capital by $30 million and reduced debt by $61 million
  • Acquisition of NHUMO will help strengthen the company’s position in North America
                 
(In millions, except per share amounts)   Fiscal 2013   Fiscal 2012
Third   First   Third   First

Quarter

9 Months

Quarter

9 Months

 
Net sales $ 903 $ 2,565 $ 846 $ 2,452
Net income attributable to Cabot Corporation $ 59 $ 106 $ 66 $ 352
 
Net earnings per share attributable to Cabot Corporation $ 0.90 $ 1.63 $ 1.02 $ 5.43
Less Adjustments:
Net income per share from discontinued operations $ 0.04 $ 0.02 $ 0.06 $ 3.14
Certain items per share $ 0.02 $ (0.52) $ (0.04) $ (0.30)
Adjusted EPS   $ 0.84   $ 2.13   $ 1.00   $ 2.59
 

Commenting on the results, Cabot President and CEO Patrick Prevost, said, “We experienced a sequential and year over year increase in volumes as demand in many of our end markets improved. Additionally, our Advanced Technologies segment delivered record-setting EBIT. We were also pleased with the early results of a corporate-wide initiative to reduce net working capital and generate cash. The initiative resulted in a net working capital improvement of $30 million this quarter, but caused an $8 million unfavorable impact to our operating results through the reduction of inventory. Our earnings were also unfavorably impacted by a $3 million LIFO accounting charge. Finally, the near-term challenges in the North American mercury-removal end market continue to affect performance of the Purifications Solutions segment.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

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