The following is a summary of the Cabot Corporation (CBT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Cabot Corporation reported a strong financial performance for Q3 2024 with adjusted earnings per share up 35% year-over-year to $1.92.

• EBIT in Reinforcement Materials grew 3% year-over-year to $136 million.

• In the Performance Chemicals segment, EBIT increased 72% year-over-year.

• The company generated strong operating cash flow of $207 million during the third quarter.

• Discretionary free cash flow for the quarter was $128 million.

Business Progress:

• Cabot has earned the top rating of platinum from EcoVadis for the fourth consecutive year, demonstrating leadership in sustainability.

• The company announced that it attained Operation Clean Sweep certification in Europe at its two masterbatch and compounding facilities in Belgium.

• Launched REPLASBLAK universal circular black masterbatches powered by EVOLVE Sustainable Solutions, the industry's first universal circular black masterbatches with ISCC PLUS certified content.

• Based on third-quarter performance and outlook for Q4, Cabot is raising its full-year adjusted EPS outlook to be in the range of $7.00 to $7.10.

Opportunities:

• Cabot continues to prioritize high-confidence, high-return growth investments and potential bolt-on acquisitions that support its strategy.

• The company plans to maintain an industry-competitive and growing dividend and to opportunistically repurchase shares.

Risks:

• Volumes in the Americas in the Reinforcement Materials segment were negatively impacted by weather-related events, and some lingering effects are expected into Q4.

• Global economic fluctuations could impact customer behavior and market stability, particularly noted by the CEO's cautious outlook on the Chinese economy.

More details: Cabot IR

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