Cabot Corporation - CBT STOCK NEWS

Cabot Corporation (NYSE: CBT) has announced the release of its first quarter operating results for fiscal 2021, scheduled for Monday, February 1, 2021, after market close. A conference call and live webcast will follow on Tuesday, February 2, 2021, at 8:00 am (ET) to discuss these results. Investors can access the live stream and archived presentation on the company's website. Cabot is a leading global provider of specialty chemicals and performance materials, offering products including rubber, activated carbon, and fumed silica.

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.