Cabot full-year earnings up 16% despite lower volumes
ERJ staff report (LMH)
Boston, Massachusetts - Carbon black and speciality chemical company Cabot Corp. has reported full year earnings (EBITDA) of $508 million, an increase of 16% year-on-year, despite lower volumes.
For the fiscal year ended the 30 Sept 2012, Cabot said sales were $3.3 billion up from $3.1 billion in 2011. Fourth-quarter sales were $389 million up from $236 million in 2011.
Sales in the rubber blacks business were $227 million, up from $183 million in 2011.
Cabot also reported a 37% improvement in adjusted earnings-per-share, which reached $3.34 up from $2.43 the previous year.
Commenting on the outlook for the company, Patrick Prevost, Cabot's President and
CEO, said, “Due to the uncertainty in the global economy, we are cautious about the near term as we expect a man to remain soft at least through calendar year 2012. Due to the non-discretionary nature of the products we sell, we anticipate a man to recover in 2013.â€
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Press release from Cabot
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