Published on 11 Aug 2022 on Zacks via Yahoo Finance
Cabot Corporation CBT recorded a profit of $97 million or $1.69 per share in the third quarter of fiscal 2022 (ended Jun 30, 2022) compared with $86 million or $1.48 per share in the year-ago quarter.Barring one-time items, adjusted earnings per share were $1.73 in the reported quarter, up from $1.35 in the year-ago quarter. The figure topped the Zacks Consensus Estimate of $1.53. Our estimate for the quarter was $1.53.Net sales increased around 25% year over year to $1,149 million in the quarter. It beat the Zacks Consensus Estimate by 10.15%. Our estimate for the quarter was $1,043.5 million.The company’s results were aided by higher margins and stronger volumes across the board. Battery Materials delivered strong volume and earnings growth in the quarter with volumes rising 60% year over year. The company achieved strong performance in the quarter notwithstanding the impacts of pandemic-led lockdowns in China, sustained logistics challenges and higher energy and raw material costs.
Cabot Corporation Price, Consensus and EPS Surprise
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