Cabot Corporation (CBT) has announced a decline in its fourth-quarter earnings compared to the same period last year, falling short of Wall Street projections. The company reported net income of $137 million, which translates to $2.43 per share. This marks a decrease from the previous year's figures of $234 million, or $4.10 per share.
When excluding special items, Cabot Corporation's adjusted earnings for the quarter stood at $1.80 per share. This narrowly missed the consensus forecast of $1.81 per share, as compiled by Thomson Reuters, with experts typically disregarding one-time items in these estimates.
In terms of revenue, the company's earnings increased by 3.6%, reaching $1.00 billion, up from $965 million the previous year.
To summarize Cabot Corporation's performance under Generally Accepted Accounting Principles (GAAP) for the fourth quarter:
- Earnings: $137 million, compared to $234 million last year.
- Earnings per Share (EPS): $2.43, down from $4.10 in the previous year.
- Revenue: $1.00 billion, an increase from last year's $965 million.
