Cabot Half-Year Report 2024

Sean Keohane, Cabot President and Chief Executive Officer, commented on the quarter, “I am very pleased with our second quarter results, as the Cabot team continued to execute against our Creating for Tomorrow strategy by delivering significant growth in Adjusted EPS year-over-year. Reinforcement Materials continued to demonstrate excellent performance, delivering EBIT of $149 million driven by price and product mix improvements in our calendar 2024 customer agreements and higher segment volumes. EBIT in the Performance Chemicals segment grew 11% year over year due to improved volumes.”

Highlights

• Diluted EPS of $1.49 and adjusted EPS of $1.78, which represents a 34% increase in Adjusted EPS as compared to the same quarter in the prior year
• Reinforcement Materials segment EBIT of $149 million; up 22% compared to the same quarter in the prior year
• Performance Chemicals segment EBIT of $31 million; up 11% compared to the same quarter in the prior year
• Cash Flows from Operations of $176 million in the second fiscal quarter supported the return of $47 million of cash to shareholders in the quarter
• Increased quarterly dividend by 8% from $0.40 to $0.43 per share