BOSTON (AP) _ Cabot Corp. (CBT) on Monday reported fiscal second-quarter net income of $23 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Boston-based company said it had net income of 39 cents. Earnings, adjusted for one-time gains and costs, came to 99 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The chemical company posted revenue of $844 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $906 million.
Cabot expects full-year earnings in the range of $4.05 to $4.30 per share.
Cabot shares have increased almost 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $46.19, a drop of 18% in the last 12 months.
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