Boston, Massachusetts – Cabot Corp.’s reinforcement materials business segment has reported a 46% increase in earnings (EBIT) in the first quarter of 2018.
The company said segment earnings rose $25 million compared to the second quarter of 2017 – a 46% increase according to boss Sean Keohane.
“Reinforcement materials delivered a record EBIT quarter,” the president and CEO noted.
Cabot said the gains were largely driven by 2018-calendar- year customer agreements, strong spot pricing in Asia, and high capacity-utilisation.
Globally, volumes were flat year-on-year, with gains in Europe and the Americas offsetting lower volumes in Asia.
Without giving detailed figures, Cabot said volumes fell 7% in Asia, while Europe strengthened 7% and Americas improved 5%.