Welcome to our dedicated page for Cabot Corporation news (Ticker: CBT), a resource for investors and traders seeking the latest updates and insights on Cabot Corporation stock.
Cabot Corporation (NYSE: CBT), headquartered in Boston, Massachusetts, is a leading global specialty chemicals and performance materials company. It is known for providing innovative performance solutions that address today's challenges and prepare for future needs. Cabot Corp's operations are divided into two main segments, each offering a range of products that are essential across various industries.
Reinforcement Materials Segment: This segment is the company's largest revenue generator. It specializes in rubber-grade carbon black products, which are essential in the manufacturing of hoses, belts, and other rubber products used in the automotive industry. These materials enhance the durability and performance of automotive components, making them indispensable to manufacturers.
Performance Chemicals Segment: This segment focuses on the production of ink-jet colorants and metal oxides. These products are widely used in the automotive and construction industries. Ink-jet colorants are crucial for high-quality printing applications, while metal oxides are used in coatings, adhesives, and sealants, providing superior performance and durability in construction materials.
Recent achievements for Cabot Corporation include strategic partnerships and expansions that have helped the company solidify its market position. Financially, the company has shown resilience with steady revenue streams from its diverse product portfolio. Current projects include innovations in sustainable materials and advanced technology integration to meet evolving industry standards.
Cabot Corporation is dedicated to continuous improvement and sustainability. The company invests in research and development to create products that are not only high-performing but also environmentally friendly. Their commitment to innovation and quality makes them a significant player in the specialty chemicals and performance materials industry.
Cabot Corporation (NYSE: CBT) announced the retirement of Mark S. Wrighton from its Board of Directors, effective at the Annual Meeting of Stockholders on March 11, 2021. Wrighton, a board member since 1997, has been instrumental in guiding the company with his extensive knowledge and experience. His contributions include serving on the Compensation Committee and previously on the Safety, Health, Environment, and Sustainability Committee. Wrighton's retirement marks a significant change in the board, as he has been a key figure in overseeing Cabot's technological advancements and public company management.
Cabot Corporation (NYSE: CBT) has declared a quarterly dividend of $0.35 per share on its common stock. This dividend will be payable on March 12, 2021, to stockholders on record as of February 26, 2021. Headquartered in Boston, Cabot is a global leader in specialty chemicals and performance materials, including products such as carbon black and activated carbon. The announcement underscores the company’s commitment to returning value to shareholders amidst its diverse portfolio and market presence.
Cabot Corporation (NYSE: CBT) reported a fourth quarter net loss of $272 million ($4.81 per share) for fiscal 2020, down from a profit of $33 million in the previous year. Adjusted EPS stood at $0.68, compared to $1.05 last year. Despite a strong operating cash flow of $99 million for the quarter, net sales decreased to $659 million from $827 million. The company sold its lignite mine in Texas as part of a transformational strategy. Looking forward, Cabot expects improved EBIT and adjusted EPS between $0.80 and $0.90 for Q1 2021, contingent on ongoing economic recovery.
Cabot Corporation (NYSE: CBT) has announced a quarterly dividend of $0.35 per share on all outstanding common stock. This dividend is payable on December 11, 2020, to shareholders recorded by the close of business on November 27, 2020. As a leader in specialty chemicals and performance materials, Cabot provides essential products like carbon black and activated carbon. The company emphasizes its commitment to shareholder returns through consistent dividend payments.
Cabot Corporation has launched FX9390, a new Engineered Elastomer Composites product within its E2C Foundation series. FX9390 enhances tire performance for off-the-road mining applications, improving cut, chip, and chunk resistance, heat buildup, and abrasion resistance. The product allows for flexible tire compound formulation and can be integrated into existing production lines without additional capital investment. Additionally, FX9390 requires up to 50% less mixing energy and time, streamlining the manufacturing process.
Cabot Corporation has updated its business results for the fourth quarter of fiscal 2020, reporting an expected EBIT of $59 million for Reinforcement Materials, a 56% increase in volumes compared to Q3. The Performance Chemicals segment is projected to generate $25 million in EBIT, with modest volume increases. Purification Solutions is expected to break even. Additionally, cash flow from operations is anticipated at $100 million for Q4 and $250 million for the second half of the fiscal year, exceeding prior estimates. The release date for detailed operating results has been rescheduled to November 23, 2020.
Cabot Corporation (NYSE: CBT) plans to release its fourth quarter and fiscal year 2020 operating results on November 9, 2020, after market close. A conference call will be held on November 10, 2020, at 8:00 am ET to discuss the results. Investors can access the call via the company’s website, where it will also be archived for later viewing. Cabot is a leader in specialty chemicals, offering products such as rubber, activated carbon, and specialty carbons.
Cabot Corporation (NYSE: CBT) announced a long-term supply agreement with ADA Carbon Solutions for lignite-based activated carbon products. As part of this agreement, Cabot Norit will sell its lignite mine in Marshall, TX to ADA. The mine closure will mostly be funded by ADA, with Cabot’s cash outlay capped at $10 million over 14 years. Additionally, Cabot will idle activation kilns at its Marshall facility. The transaction is expected to result in a pre-tax charge of approximately $129 million, but will yield $5 million in annual cash benefits and a $10 million annual EBIT improvement.
Group14 Technologies, based in Woodinville, WA, has been awarded $3.96 million by the DOE as part of the Energy Storage Grand Challenge. The funding is aimed at enhancing lithium-ion battery performance for various applications including electric vehicles and consumer electronics. Group14, working with partners like Cabot Corporation, aims to develop their patented Scaffold Prime™ technology to meet escalating demands for high-capacity batteries. This recognition underscores their innovative approach in the energy storage sector.
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