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FX.co ★ Cabot Corp Q2 Profit Increases, beats estimates

Cabot Corp Q2 Profit Increases, beats estimates

Cabot Corporation (CBT) reported an increase in earnings for its second financial quarter, surpassing market predictions.

The firm reported a net profit of $84 million, equivalent to $1.49 per portion of stock. This is a rise compared to last year's second quarter, when the bottom line showed $75 million, or $1.29 per share.

After adjusting for specific factors, the company reported an adjusted income of $1.78 per share. This exceeded the average forecast by analysts, who had predicted an earning of $1.66 per share as per data collected by Thomson Reuters. It's important to note that analysts' estimates typically exclude exceptional items.

However, the company's revenue for the quarter experienced a slight drop of 1.9%, decreasing from last year's $1.03 billion to this year's $1.01 billion.

In summary, Cabot Corporation's performance at a glance (on a GAAP basis) was as follows:

The earnings for the second quarter stand at $84 million compared to last year's second quarter performance of $75 million.

Earnings per share for the same period also increased from last year's $1.29 to $1.49 this year.

Despite the increase in earnings, the company's revenue for the second quarter dipped slightly to $1.01 billion from last year's $1.03 billion.

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