Cabot (CBT) Boosts Circularity & Traceability With ISCC PLUS
Cabot Corporation CBT said that six of its facilities now have International Sustainability and Carbon Certification (ISCC) PLUS certification. CBT is currently leading all carbon black producers in the number of ISCC PLUS accredited sites, and it aspires to extend accreditation across its extensive global network.
Three reinforcing carbon factories in Europe and the Americas, two masterbatch and compounding facilities in Europe, and the company's regional headquarters for Europe, the Middle East and Africa are among the sites that are currently accredited. By providing sustainable solutions on a global level, Cabot's achievement of ISCC PLUS accreditation furthers its dedication to improving circularity and traceability. This will assist its clients in accomplishing their sustainability goals.
Cabot's ISCC PLUS certified facilities adhere to ISCC PLUS requirements by leveraging circular value chains and certified feedstocks in the product manufacturing process. Cabot has unveiled its EVOLVE Sustainable Solutions technology platform, which is intended to create products with sustainable content and consistent performance at an industrial scale.
Cabot now offers two ISCC PLUS certified products, VULCAN 7H-C circular reinforcing carbon and STERLING SO-RC110 circular reinforcing carbon, powered by EVOLVE Sustainable Solutions. These products are made using a mass balance method that traces the movement of materials across a complex value chain.
Shares of Cabot have gained 0.3% over the past year compared with a 8.9% rise of its industry.
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The company, on its fiscal third-quarter call, said that it expects steady sequential volumes and strong EBIT growth year over year in Reinforcement Materials due to pricing and mix benefits in customer agreements. For Performance Chemicals, it expects stable sequential volumes in major product lines, with moderate growth in battery materials and inkjet. Pricing pressure in China's EV value chain is expected to affect battery materials in the short term.
CBT expects EBITDA results for fiscal 2023 to be lower than its earlier communicated guidance. Fiscal fourth-quarter adjusted EPS is projected to be in the range of $1.40 to $1.55, leading to a full-year range of $5.13 to $5.28.
Cabot Corporation Price and Consensus
Cabot Corporation price-consensus-chart | Cabot Corporation Quote
Zacks Rank & Key Picks
Cabot currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, The Andersons Inc. ANDE and Hawkins Inc. HWKN.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 79.2% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Andersons currently carries a Zacks Rank #1. The stock has gained roughly 51.4% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
Hawkins currently carries a Zacks Rank #1. The stock has rallied roughly 54.3% in the past year. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 25.6%, on average.
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