BOSTON (AP) _ Cabot Corp. (CBT) on Monday reported fiscal first-quarter net income of $41 million.
On a per-share basis, the Boston-based company said it had net income of 70 cents. Earnings, adjusted for pretax gains, were 69 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The chemical company posted revenue of $727 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $793.6 million.
Cabot expects full-year earnings in the range of $3.60 to $3.90 per share.
Cabot shares have decreased 16% since the beginning of the year. In the final minutes of trading on Monday, shares hit $40.13, a fall of 16% in the last 12 months.