Cabot Q1 Results Beat Street View; Lifts FY22 Profit Outlook

(RTTNews) - Cabot Corporation (CBT) Monday reported first-quarter loss of $89 million or $1.57 per share, compared to net profit of $60 million or $0.12 per share last year.

Adjusted earnings for the quarter rose to $1.29 per share from $1.18 per share last year.

Net sales for the quarter rose to $968 million from $746 million last year.

Analysts polled by Thomson Reuters estimated earnings of $1.11 per share on revenues of $870.53 million for the quarter.

The company increased its adjusted earnings outlook for fiscal year 2022 to $5.50 to $5.90 per share, compared to prior outlook of $5.20 to $5.60 per share. Analysts currently estimate earnings of $5.39 per share.