Cabot beats 1Q profit forecasts
Cabot posts 1Q profit of $54 million, result tops expectations
BOSTON (AP) _ Cabot Corp. (CBT) on Wednesday reported fiscal first-quarter net income of $54 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Boston-based company said it had profit of 85 cents. Earnings, adjusted for non-recurring gains, were 84 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The chemical company posted revenue of $611 million in the period.
Cabot shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.27, a rise of 43 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBT at https://www.zacks.com/ap/CBT
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Keywords: Cabot, Earnings Report
