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People & Business :: Earnings/Finance
Cabot earnings fall on carbon black weakness
5:57 PM MDT | July 31, 2013 | Robert Westervelt
Cabot reported net income attributable to the company of $59 million for its fiscal third quarter ended 30 June, down 11% year-on-year (YOY). Revenue increased 6.7% YOY, to $903 million, due mainly to the acquisition of Norit. Reported adjusted earnings were 84 cts/share, down 16% YOY and 6.6% below the median analyst estimate as reported by Thomson Reuters (New York). “We experienced a sequential and year over year increase in volumes as demand in many of our end markets improved,” says Cabot president and CEO Patrick Prevost. “This was our...
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