Cabot Corporation (CBT) announced an increase in its second-quarter profit compared to last year, outperforming analysts' predictions.
The company reported a net income of $84 million, or $1.49 per share, up from $75 million, or $1.29 per share, in the same quarter of the previous year.
Excluding certain items, Cabot Corporation's adjusted earnings for the period stood at $1.78 per share. This surpassed the average analyst estimate of $1.72 per share, according to data from Thomson Reuters. Analysts typically exclude special items from their projections.
However, the company's revenue for the quarter saw a decline of 1.4%, dropping to $1.019 billion from $1.033 billion in the previous year.
A summary of Cabot Corporation's earnings under Generally Accepted Accounting Principles (GAAP) is as follows:
- Earnings (Q2): $84 million, compared to $75 million last year.
- Earnings Per Share (EPS) (Q2): $1.49, up from $1.29 last year.
- Revenue (Q2): $1.019 billion, down from $1.033 billion last year.
