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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 released its 2024 Sustainability Report detailing progress towards its 2025 Sustainability Goals.
Key achievements include industry-leading safety performance with a Total Recordable Incident Rate of 0.20, significant reductions in greenhouse gas emissions, and the launch of innovative products under the EVOLVE® Sustainable Solutions platform.
The report highlights the achievement of nine sustainability goals ahead of schedule and the company's acquisition of ISCC PLUS certification at seven sites globally.
Cabot continues to focus on reducing Scope 1 and Scope 2 GHG emissions and completed a comprehensive inventory of its Scope 3 emissions in 2023.
For more details, visit cabotcorp.com/sustainability.
Cabot (NYSE: CBT) has achieved Operation Clean Sweep (OCS) Europe certification at its masterbatch and compounding facilities in Pepinster and Loncin, Belgium. This certification underscores Cabot's commitment to sustainable plastic management, making it one of the first black masterbatch manufacturers in Europe to earn this recognition. The certification, advocated by industry associations Plastics Europe and the European Plastics Converters (EuPC), highlights Cabot's efforts to reduce plastic waste and prevent material spillage in the environment. Jeff Zhu, executive vice president, emphasized Cabot's proactive approach in minimizing plastic waste through stringent management practices. Since 2019, Cabot has supported OCS protocols, incorporating comprehensive plans for facility assessments, employee training, and continuous improvement in plastic management practices.
Cabot (NYSE: CBT) has been awarded a platinum rating by EcoVadis for the fourth consecutive year, placing it among the top 1% of over 130,000 companies assessed worldwide.
The rating recognizes Cabot's outstanding performance in environmental, social, and governance (ESG) efforts, particularly its sustainability management system and transparency across its value chain.
Cabot received the highest score of 'outstanding' in the environment category, reflecting its leadership in sustainability. The company also achieved improved scores from CDP, securing 'B' ratings in climate change and water security, and a 'B-' in supplier engagement.
Cabot's commitment to decarbonization, resource conservation, and the circular economy was emphasized by CEO Sean Keohane and Chief Sustainability Officer Martin O'Neill, who highlighted the company's continuous improvements and dedication to a more sustainable future.
Cabot has launched new REPLASBLAK® universal circular black masterbatches with ISCC PLUS certified content, powered by EVOLVE® Sustainable Solutions. The products aim to meet the industry's need for sustainable solutions, supporting a circular economy and reducing GHG emissions. These masterbatches, made from mechanically recycled polymer, offer high performance, quality, and reliability for coloring a wide range of polymers in automotive applications. The solutions enable material management efficiency, high gloss, and superior color performance, making them suitable for various automotive segments.
Cabot (NYSE: CBT) reported a strong performance in the second quarter of fiscal year 2024 with a diluted EPS of $1.49 and an adjusted EPS of $1.78, marking a 34% increase in adjusted EPS year-over-year. The company saw growth in both the Reinforcement Materials and Performance Chemicals segments. Cash flows from operations were $176 million, supporting a return of $47 million to shareholders. Cabot also increased its quarterly dividend by 8% to $0.43 per share.
The Board of Directors of Cabot (NYSE: CBT) has declared an 8% increase in the quarterly dividend to $0.43 per share, reflecting positive long-term business fundamentals and strong cash flow generation. The dividend is payable on June 14, 2024, to stockholders of record at the close of business on May 31, 2024.
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