Cabot Corp Q1 Profit Increases, But Misses Estimates

Cabot

76.19 CHF -1.76%

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(RTTNews) - Cabot Corp (CBT) released earnings for its first quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $93 million, or $1.67 per share. This compares with $50 million, or $0.88 per share, last year.

Excluding items, Cabot Corp reported adjusted earnings of $1.76 per share for the period.

Analysts on average had expected the company to earn $1.77 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 0.3% to $955 million from $958 million last year.

Cabot Corp earnings at a glance (GAAP) :

-Earnings: $93 Mln. vs. $50 Mln. last year. -EPS: $1.67 vs. $0.88 last year. -Revenue: $955 Mln vs. $958 Mln last year.

-Guidance: Full year EPS guidance: $7.40 to $7.80