CABOT (CBT) Company Report

CBT reported a record adjusted earnings per share of $7.25 for fiscal year 2025, a 3% increase year over year, alongside strong operating cash flow of $665 million and free cash flow of $391 million.
For fiscal year 2026, the company projects adjusted earnings per share to be between $6.00 and $7.00, a decrease from 2025, citing a challenging market backdrop including declining automotive production and persistent elevated Asian tire imports.
CBT is acquiring Bridgestone's reinforcing carbon plant in Mexico, expected to close in Q2 FY26 and be accretive in the first year, and reported a 20% year-over-year increase in total contribution margin for its battery materials business in fiscal year 2025.
Robert Brist will assume the role of Vice President of Investor Relations and Corporate Planning, with Steve Della Hunt continuing as Vice President and Treasurer.

Nov 4, 2025, 1:00 PM

Transcript

Cabot Corporation Reports Record FY 2025 Adjusted EPS and Provides FY 2026 Outlook

CBT

Earnings

Guidance Update

M&A

Cabot Corporation reported record adjusted earnings per share of $7.25 for fiscal year 2025, an increase of 3% year over year, with adjusted EBITDA reaching $804 million. For Q4 2025, adjusted EPS was $1.70, a 6% decrease from the prior year.
The company provided fiscal year 2026 adjusted EPS guidance of $6.00 to $7.00, anticipating a decline from 2025 due to a challenging macroeconomic environment, including expected decreases in light vehicle auto production and persistent Asian tire imports.
Cabot maintained a strong balance sheet in fiscal year 2025 with net debt to EBITDA at 1.2 times and $1.5 billion in liquidity, while returning $264 million to shareholders through $96 million in dividends and $168 million in share repurchases.
Strategic initiatives include the planned acquisition of Bridgestone's reinforcing carbon plants in Mexico, expected to close in Q2 2026 and be accretive in the first year, and continued strong growth in its battery materials business, which saw a 20% year-over-year increase in total contribution margin in fiscal 2025.

Nov 4, 2025, 1:00 PM

Transcript

Cabot Reports Q4 and FY 2025 Results, Provides FY 2026 Outlook

CBT

Earnings

Guidance Update

Demand Weakening

Cabot delivered record adjusted earnings per share of $7.25 for fiscal year 2025, a 3% increase year-over-year, with adjusted EBITDA of $804 million and free cash flow of $391 million.
For fiscal year 2026, the company expects adjusted earnings per share to be between $6 and $7, a step back from 2025, citing a challenging market backdrop including declining light vehicle auto production and persistent Asian tire imports.
Capital expenditures for fiscal year 2026 are projected to be between $200-$250 million, and the company plans share repurchases in the range of $100 million-$200 million.
Cabot announced the acquisition of Bridgestone's reinforcing carbon plants in Mexico, expected to close in the second fiscal quarter and be accretive in the first year. The company also noted that its 2027 targets are not expected to be met due to changes in market assumptions, particularly regarding automotive production and tire imports.

Nov 4, 2025, 1:00 PM

Transcript

Cabot Corporation Announces Strong Fiscal 2025 Results and Provides Fiscal 2026 Guidance

CBT

Earnings

Guidance Update

Share Buyback

Cabot Corporation reported Diluted EPS of $6.02 and Adjusted EPS of $7.25 for fiscal year 2025, with Adjusted EPS increasing 3% year-over-year.
The company generated $665 million in cash flows from operations and $391 million in free cash flow in fiscal 2025, supporting $96 million in dividends and $168 million in share repurchases.
Adjusted EBITDA increased to $804 million in fiscal 2025 from $777 million in fiscal 2024, and Adjusted EBITDA Margins improved to 22% from 19% over the same period.
For fiscal year 2026, CBT expects Adjusted EPS to be in the range of $6.00 to $7.00, with projected capital expenditures between ~$200 million and $250 million and share repurchases between ~$100 million and $200 million.
Cabot maintained a strong financial position in fiscal 2025, with a Net Debt / EBITDA ratio of 1.2x and $1.5 billion in liquidity.

Nov 4, 2025, 1:00 PM

Presentation

Cabot Reports Record FY 2025 Adjusted EPS, Provides FY 2026 Outlook

CBT

Earnings

Guidance Update

Demand Weakening

Cabot Corporation reported record adjusted earnings per share of $7.25 for fiscal year 2025, representing a 3% increase year-over-year, with adjusted EBITDA reaching $804 million.
For fiscal year 2026, the company expects adjusted earnings per share to be between $6.00 and $7.00, indicating a step back from 2025 performance due to anticipated weak demand and pricing pressures.
In fiscal year 2025, Cabot generated $665 million in operating cash flow and $391 million in free cash flow, returning $264 million to shareholders through $96 million in dividends and $168 million in share repurchases.
The company announced an agreement to acquire Bridgestone's reinforcing carbon plants in Mexico, expected to close in the second fiscal quarter of 2026 and be accretive in the first year, and continues to grow its battery materials business, which saw a 20% year-over-year increase in total contribution margin in FY 2025.
Cabot acknowledged that its previously set 2027 targets are not expected to be met due to persistent macroeconomic turbulence, lower automotive production, and elevated Asian tire imports impacting Western markets.

Nov 4, 2025, 1:00 PM

Transcript

Cabot Corp Reports Q4 and Fiscal Year 2025 Results

CBT

Earnings

Guidance Update

Dividends

Cabot Corporation reported Fiscal Year 2025 Adjusted EPS of $7.25, representing a 3% increase year-over-year, and Fourth Quarter 2025 Adjusted EPS of $1.70, a 6% decrease year-over-year.
For Fiscal Year 2025, the company generated $665 million in Cash Flows from Operations , and returned $96 million in dividends and $168 million in share repurchases to shareholders.
Fiscal Year 2025 segment EBIT saw an 18% increase in Performance Chemicals and a 5% decrease in Reinforcement Materials year-over-year.
Cabot projects its Fiscal Year 2026 Adjusted EPS to be in the range of $6.00 to $7.00.

Nov 3, 2025, 10:30 PM

8-K

Cabot Corporation Reports Fourth Quarter and Fiscal Year 2025 Results

CBT

Earnings

Guidance Update

M&A

Cabot Corporation reported Fiscal Year 2025 Adjusted EPS of $7.25, a 3% increase year-over-year, and Fourth Quarter 2025 Adjusted EPS of $1.70, which represents a 6% decrease year-over-year.
For Fiscal Year 2025, Cash Flows from Operations totaled $665 million, supporting $274 million in capital investments, $96 million in dividends, and $168 million in share repurchases.
The company expects Fiscal Year 2026 Adjusted EPS to be in the range of $6.00 to $7.00.
In Fiscal Year 2025, Reinforcement Materials segment EBIT decreased 5%, while Performance Chemicals segment EBIT increased 18%.

Nov 3, 2025, 9:30 PM

Press Release

Cabot Corporation Strengthens North American Manufacturing for Circular Reinforcing Carbons

CBT

New Projects/Investments

Cabot Corporation has enhanced its manufacturing capabilities in North America for circular reinforcing carbons, with its Ville Platte, Louisiana, USA site now producing these materials.
This expansion adds to existing production sites in Mauá, Brazil, and Valasske Mezirici, Czech Republic, for circular reinforcing carbons powered by Cabot's EVOLVE® Sustainable Solutions technology platform.
The circular reinforcing carbons are made using tire pyrolysis oil (TPO) derived from end-of-life tires, leveraging an ISCC PLUS mass balance approach.
Cabot has also expanded its global network of ISCC PLUS certified sites to 14 facilities, strengthening its capacity to offer third-party certified sustainable solutions.
This strategic move aims to support tire manufacturers' ambitious sustainability goals, including achieving 40% sustainable material usage by 2030, and enhances supply chain efficiency through a "make-in-region, sell-in-region" approach.

Oct 7, 2025, 1:00 PM

Press Release

Cabot Corp Q2 2025 Earnings Results & Call

CBT

Earnings

Guidance Update

Dividends

Share Buyback

Adjusted EPS increased to $1.90 (7% YoY) with a 5% dividend increase to $0.45 per share; $70M returned to shareholders through dividends and share repurchases
Performance Chemicals excelled with strong volume, margin improvements, and EBIT of $50M (up 61% YoY) while Reinforcement Materials posted EBIT of $131M (down 12% YoY) amid volume declines
Revised FY2025 guidance now expects an adjusted EPS range of $7.15 to $7.50 amid global tariff uncertainties and cautious customer demand
Executing $30M in cost-saving initiatives alongside forecast CapEx between $250M and $275M to sustain robust liquidity

May 6, 2025, 12:01 PM

Transcript Presentation 8-K

Cabot Corp Reports Q1 2025 Results, Guidance & Earnings Call Highlights

CBT

Earnings

Dividends

Share Buyback

Adjusted EPS reached $1.76 (up 13% YoY) and GAAP EPS was $1.67, supported by robust operating cash flow of $124M .
Fiscal 2025 Guidance & Capital Allocation: Full-year adjusted EPS guidance of $7.40 to $7.80, with expected capital expenditures of $250M-$300M; Q1 capital investments of $77M and $66M returned to shareholders via dividends and share repurchases .
Reinforcement Materials: Delivered EBIT of $130M with modest volume gains, demonstrating solid segment performance .
Performance Chemicals: Achieved EBIT of $45M (up 32% YoY) with an additional $11M increase driven by strong volume growth .