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Key Takeaways Cabot benefits from circular products, Battery Materials growth and planned capacity expansions.Battery-materials volumes rose on EV and energy-storage demand, with $40M EBITDA expected in fiscal 2026.Weaker pricing, raw-material inflation and high capital spending continue to pressure Cabot's results. Cabot Corporation (CBT - Free Report) has been benefiting from its circular products, Battery Materials growth and expansions in capacity. Meanwhile, a weaker pricing environment in key markets and elevated input costs challenge Cabot’s performance.

The company’s shares have lost 0.1% over a year against the Zacks Chemical - Diversified industry’s 2.3% gain.

Let’s find out why CBT stock is worth retaining at the moment.

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Battery Growth and Capacity Expansions Drive UpsideCabot is benefiting from the expansion of its circular masterbatch portfolio, battery-materials business, capacity additions and disciplined capital allocation. The launch of the REPLASBLAK circular black-masterbatch family under EVOLVE Sustainable Solutions strengthens Cabot’s specialty-compounds strategy by offering ISCC PLUS-certified products made from recycled or recovered carbon and plastics.

Acquisitions in China, including NSCC Carbon, carbon nanotube assets and Shenzhen Sanshun Nano New Materials, along with the Tokai carbon black plant, have added to the company’s Battery Materials capabilities. Battery-materials volumes increased in the fiscal third quarter on stronger demand from electric vehicles and battery energy storage systems, while management expects about $40 million of battery-materials EBITDA in fiscal 2026. Cabot is also pursuing a flexible brownfield approach to battery-materials expansion, with about $125 million of investment and new capacity expected in 2028.

Strong cash generation, planned share repurchases, a 1.4X net debt-to-EBITDA ratio and a $30-million fiscal 2026 cost-savings plan further support shareholder returns and operational efficiency.

Pricing Pressure and Rising Costs Weigh on CBT’s ResultsCabot continues to face pressure from weaker pricing in Reinforcement Materials, rising raw-material costs and elevated capital expenditures. Although global Reinforcement Materials volumes increased 5% year over year in the fiscal third quarter, segment EBIT declined 24% to $97 million as lower gross profit per ton more than offset volume and regional-mix benefits. The segment continues to absorb weaker pricing from calendar 2026 tire customer agreements. EMEA volumes also declined 4%, while management expects a modest sequential EBIT decline in the fiscal fourth quarter due to seasonal demand and an unfavorable regional mix, particularly in Europe.

Rapidly rising raw-material costs increased fiscal third-quarter net working capital by about $44 million, while Performance Chemicals’ benefit from pricing ahead of these increases is expected to fade as higher input costs catch up.

Capital spending also remains significant, with $152 million spent in the first nine months and full-year guidance of $200-$215 million. The planned $125-million battery-materials capacity expansion in the United States and China could further constrain near-term free cash flow as Cabot continues to fund dividends and share repurchases.

CBT’s Zacks Rank & Key PicksCBT currently carries a Zacks Rank #3 (Hold)

Some better-ranked stocks in the Basic Materials space are Neo Performance Materials Inc. (NOPMF - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Avient Corporation (AVNT - Free Report) .

While NOPMF currently sports a Zacks Rank #1 (Strong Buy), CRS and AVNT carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for NOPMF’s 2026 earnings is pinned at $1.4 per share, indicating a 185.71% year-over-year increase. NOPMF’sshares have gained 83.2% over the past year.

The Zacks Consensus Estimate for CRS’ fiscal 2027 earnings is pegged at $12.92 per share, indicating a rise of 20.07% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.39%.

The Zacks Consensus Estimate for AVNT’s current-year earnings is pinned at $3.2 per share, indicating a 13.48% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 3.4%. AVNT’sshares have gained 20.3% over the past year.

BOSTON­­, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Cabot Corporation (NYSE: CBT) today announced that it priced a public offering of $350 million of 4.950% senior unsecured notes due 2029. The notes are being sold to the public at a price of 99.993% of the face amount thereof.

Cabot Corporation (CBT) Q3 2026 Earnings Call Transcript

Cabot Corporation is now fairly valued after a period of significant undervaluation and strong operational outperformance. I downgrade CBT to Hold with a new price target of $82/share, as the current upside is limited following a 20-30% rally. CBT's disciplined capital allocation, low leverage, and resilient margins underpin its stability despite cyclical end-market pressures.

BOSTON, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Cabot Corporation (NYSE: CBT) today announced results for its third quarter fiscal year 2026.

Third Quarter Highlights

Third Quarter Diluted EPS of $0.12 and Adjusted EPS of $1.67Reinforcement Materials segment EBIT of $97 million and Performance Chemicals segment EBIT of $68 millionBattery Materials product line expanding global conductive additive capacity to support growing demand; reaffirming expectation of approximately $40 million of EBITDA for the full fiscal year
Awarded Platinum rating from EcoVadis for exceptional leadership in sustainability performance for the sixth consecutive year
Announced a planned leadership transition, with Erica McLaughlin elected to succeed Sean Keohane as President and CEO and a member of Cabot’s Board of Directors, all effective October 1, 2026
(In millions, except per share amounts)Three Months EndedNine Months Ended 6/30/266/30/256/30/266/30/25         Net sales and other operating revenues$982 $923 $2,735 $2,814 Net income (loss) attributable to Cabot Corporation$6 $101 $147 $288                   Net earnings (loss) per share attributable to Cabot Corporation$0.12 $1.86 $2.77 $5.22 Less: Certain items after tax per share$(1.55)$(0.04)$(2.05)$(0.34)Adjusted EPS$1.67 $1.90 $4.82 $5.56               Sean Keohane, Cabot President and Chief Executive Officer, commented: “I am pleased with our strong third-quarter performance as our teams continued to execute at a high level despite a dynamic operating environment. We delivered adjusted EPS of $1.67, an increase of 4% sequentially, driven by strong performance in our Performance Chemicals segment. In Performance Chemicals, segment EBIT increased 19% year-over-year, driven by higher volumes and expanded unit margins. In Reinforcement Materials, segment EBIT declined 24% year-over-year, as higher volumes were more than offset by lower gross profit per ton. Overall, our results demonstrate the strength of our execution as we continue to navigate the current market conditions.” 

Keohane continued, “During the quarter, we advanced a program to expand global conductive additive capacity in our battery materials product line, consisting of targeted investments in both the United States and China. These investments are intended to support expected growth in global battery demand and enable continued expansion of our participation with leading battery manufacturers. We are pleased with the continued momentum in battery materials this fiscal year and reaffirm our expectation of approximately $40 million of EBITDA in fiscal 2026.”

Financial Detail
For the third quarter of fiscal 2026, net income attributable to Cabot Corporation was $6 million ($0.12 per common share). Net income reflects an after-tax per share charge from certain items of $1.55, primarily related to charges for restructuring actions and the termination of employee benefit plans. Adjusted EPS for the third quarter of fiscal 2026 was $1.67 per share.

Segment Results

Reinforcement Materials – Third quarter fiscal 2026 EBIT in Reinforcement Materials decreased by $31 million compared to the third quarter of fiscal 2025. The decline in EBIT was primarily driven by lower gross profit per ton, primarily due to the outcomes of our calendar year 2026 customer agreements, partially offset by higher volumes and a more favorable regional product mix. Volumes increased by 5% in the third quarter of fiscal 2026 as compared to the third quarter of fiscal 2025 driven by higher volumes in Asia and the Americas, including higher volumes from our capacity addition in Indonesia and our acquisition in Mexico.

Global and regional volume changes for Reinforcement Materials for the third quarter of fiscal 2026 as compared to the same quarter of the prior year are set forth in the table below:

 Third Quarter
Year-over-Year ChangeGlobal Reinforcement Materials Volumes5%Asia Pacific10%Europe, Middle East, Africa(4%)Americas4%   Performance Chemicals – Third quarter fiscal 2026 EBIT in Performance Chemicals increased by $11 million compared to the third quarter of fiscal 2025 primarily due to increased volumes and higher gross profit per ton. Volumes increased in our battery materials and fumed metal oxides product lines in the third quarter of fiscal 2026 as compared to the third quarter of fiscal 2025. The increase in battery materials volumes was driven by higher demand for electric vehicles and battery energy storage systems and our strengthening participation with market-leading global battery manufacturers. The increase in fumed metal oxides volumes was driven by growth in electronics applications. The higher gross profit per ton was primarily due to price increases implemented ahead of rising raw material costs and a favorable product mix.

Cash Performance – The Company ended the third quarter of fiscal 2026 with a cash and cash equivalents balance of $250 million. During the third quarter of fiscal 2026, cash flows from operating activities were a source of $75 million. Uses of cash during the quarter included funding $44 million of higher net working capital due to the rapidly rising raw material costs during the quarter, $38 million in capital expenditures and $24 million for the payment of dividends. We ended the third quarter with $1.3 billion of available liquidity and a net debt to EBITDA ratio of 1.4 times as of June 30, 2026. 

Taxes – During the third quarter of fiscal 2026, the Company recorded tax expense of $46 million, resulting in an effective tax rate of 79%. The provision for income taxes included a net discrete tax expense of $19 million primarily related to changes in valuation allowance as a result of the Company ceasing carbon black production at its plant in Campana, Argentina. On a year-to-date basis, the Company’s operating tax rate was 29% as of June 30, 2026, and we expect our full-year fiscal 2026 operating tax rate to be in the range of 28% to 30%.

Outlook
Commenting on the outlook for the Company, Sean Keohane said, “Given the year-to-date performance and our expectations for the fourth fiscal quarter, we are tightening our fiscal 2026 Adjusted EPS guidance range from $6.00 to $6.50 per share to $6.15 to $6.45 per share.”

Keohane continued, “While the macroeconomic and geopolitical environment remains dynamic, our teams continue to execute at a high level. We have demonstrated our ability to successfully manage through changing conditions while maintaining strong operational and financial performance, generating robust cash flow, and delivering value to our customers.”

Keohane concluded, “As I prepare to retire after nearly 25 years with Cabot and more than 10 years as President and CEO, I am incredibly proud of what the Cabot team has accomplished, and I am excited about the future of the Company. I am pleased that the Board has announced the appointment of Erica McLaughlin to succeed me as CEO. This reflects the Board’s longstanding commitment to thoughtful succession planning and positions the Company for continued success. Erica is an exceptional leader with deep knowledge of our businesses, customers, and strategy, and I am confident she will build on our strong foundation. Supported by our operating model, deep and experienced management team and robust financial position, I believe Cabot is well positioned to deliver a strong fiscal 2026 while continuing to execute on our strategy and create long-term value for shareholders.”

Earnings Call
The Company will host a conference call with industry analysts at 8:00 a.m. Eastern time on Tuesday, August 4, 2026. The call can be accessed through Cabot’s investor relations website at http://investor.cabot-corp.com

About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com. The Company regularly posts important information on its website and encourages investors and potential investors to consult the Cabot website regularly.

Forward-Looking Statements – This earnings release contains forward-looking statements. All statements that address expectations or projections about the future, including with respect to our expectations for our performance in fiscal year 2026, including our expectations for Adjusted EPS for fiscal 2026 and EBITDA in our battery materials product line, our expectations for customer demand and growth opportunities in our battery materials product line including our participation with leading battery manufacturers and our investments to support that expected growth, our expected operating tax rate for fiscal 2026, with respect to the planned leadership transition and expectations for future performance growth and value creation for shareholders and our assumptions underlying those expectations are forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, potentially inaccurate assumptions, and other factors, some of which are beyond our control and difficult to predict. If known or unknown risks materialize, or should underlying assumptions prove inaccurate, our actual results could differ materially from past results and from those expressed or implied by forward-looking statements. Important factors that could cause our results to differ materially from those expressed or implied in the forward-looking statements include, but are not limited to, the inherent uncertainty of management transitions and the ability of the Company to successfully execute its planned leadership transition, industry capacity utilization and competition from other specialty chemical companies; safety, health and environmental requirements and related constraints imposed on our business; regulatory and financial risks related to climate change developments; volatility in the price and availability of energy and raw materials, including with respect to the Russian invasion of Ukraine and conflict in the Middle East; a significant adverse change in a customer relationship or the failure of a customer to perform its obligations under agreements with us; failure to achieve growth expectations from new products, applications and technology developments; failure to realize benefits from acquisitions, alliances, or joint ventures or achieve our portfolio management objectives; unanticipated delays in, or increased cost of site development projects; negative or uncertain worldwide or regional economic conditions and market opportunities, including from trade relations, global health matters or geo-political conflicts; litigation or legal proceedings; interest rates, tax rates, currency exchange controls, tariffs and fluctuations in foreign currency rates; and the accuracy of the assumptions we used in establishing reserves for our share of liability for respirator claims. These factors are discussed more fully in the reports we file with the Securities and Exchange Commission (“SEC”), particularly under the heading “Risk Factors” in our annual report on Form 10-K for our fiscal year ended September 30, 2025, which are filed with the SEC at www.sec.gov. We assume no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Use of Non-GAAP Financial Measures
To supplement Cabot’s consolidated financial statements presented on a generally accepted accounting principle (“GAAP”) basis, the preceding discussion of our results and the accompanying financial tables report Adjusted EPS, Adjusted EBITDA, our operating tax rate, Free Cash Flow and Discretionary Free Cash Flow, all of which are non-GAAP financial measures. These non-GAAP financial measures are not computed in accordance with, or as an alternative to, GAAP, and the definitions of these measures may not be comparable to those used by other companies. Reconciliations of Adjusted EPS to net income (loss) per share attributable to Cabot Corporation, the most directly comparable GAAP financial measure,  Adjusted EBITDA to Income (loss) from operations before income taxes and equity in earnings of affiliated companies, the most directly comparable GAAP financial measure of each such non-GAAP measure, operating tax rate to effective tax rate, the most directly comparable GAAP financial measure and Free Cash Flow and Discretionary Free Cash Flow to Cash flow provided by (used in) operating activities, the most directly comparable GAAP financial measure, are provided in the tables titled “Cabot Corporation Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate” and “Cabot Corporation Reconciliation of Non-GAAP Financial Measures.”

Management believes these non-GAAP measures provide investors with greater transparency to the information used by Cabot management in its financial and operational decision-making, allow investors to see Cabot’s results through the eyes of management, and better enable Cabot’s investors to understand Cabot’s operating performance and financial condition.

Adjusted EPS. In calculating Adjusted EPS, we exclude from our net income (loss) attributable to Cabot Corporation items of expense and income that management does not consider representative of the Company’s business operations. Accordingly, reporting earnings on an adjusted basis supplements the GAAP measure of performance and provides additional information related to the underlying performance of the business. For example, certain of the items we exclude are items that we are required by GAAP to recognize in one period that relate to activities extending over several periods or relate to single events that management considers to be unusual and infrequent, although not necessarily non-recurring. We refer to these items as “certain items.” Management believes excluding these items facilitates operating performance comparisons from period to period by eliminating differences caused by the existence and timing of certain expense and income items that would not otherwise be apparent on a GAAP basis and evaluates the Company’s operating performance without the impact of these costs or benefits. Management also uses Adjusted EPS as a key measure in evaluating management performance for incentive compensation purposes.

The items of income and expense that we exclude from our calculations of Adjusted EPS but that are included in our GAAP net income (loss) per share, as applicable in a particular reporting period, include, but are not limited to, the following:

Global restructuring activities, which include costs or benefits associated with cost reduction initiatives or plant closures and are primarily related to (i) employee termination costs, (ii) asset impairment charges associated with restructuring actions, (iii) costs to close facilities, including environmental costs and contract termination penalties, and (iv) gains realized on the sale of land or equipment associated with restructured plants or locations.Legal and environmental matters and reserves, which consist of costs or benefits for matters typically related to former businesses or that are otherwise incurred outside of the ordinary course of business.Acquisition and integration-related charges, which include transaction costs, redundant costs incurred during the period of integration, and costs associated with transitioning certain management and business processes to Cabot’s processes.Employee benefit plan settlements, which consist of either charges or benefits associated with the termination of a pension planArgentina controlled currency devaluation loss related to the foreign exchange loss from government-controlled currency devaluations on our net monetary assets denominated in the Argentine peso and investment losses related to the utilization of government bond programs established for the settlement of certain foreign payables. Cabot does not provide an expected GAAP EPS range or reconciliation of the Adjusted EPS range with an expected GAAP EPS range because, without unreasonable effort, we are unable to predict with reasonable certainty the matters we would allocate to “certain items,” including unusual gains and losses, costs associated with future restructurings, acquisition-related expenses and litigation outcomes. These items are uncertain, depend on various factors, and could have a material impact on GAAP EPS in future periods.

Adjusted EBITDA. Adjusted EBITDA reflects Income (loss) from operations before income taxes and equity in earnings of affiliated companies adjusted for certain items, interest expense, depreciation and amortization, equity in earnings of affiliated companies, and unallocated corporate costs, which include unallocated corporate overhead expenses such as certain corporate salaries and headquarters expenses, plus costs related to corporate projects and initiatives.

Free Cash Flow. To calculate “Free Cash Flow” we deduct Additions to property, plant and equipment from cash flow provided by (used in) operating activities.

Discretionary Free Cash Flow. To calculate “Discretionary Free Cash Flow” we deduct sustaining and compliance capital expenditures and changes in Net Working Capital from cash flow provided by (used in) operating activities.

Operating Tax Rate. Our “operating tax rate” is calculated based upon management's forecast of the annual operating tax rate for the fiscal year applied to adjusted pre-tax earnings. The operating tax rate excludes income tax (expense) benefit on certain items, discrete tax items and, on a quarterly basis the timing of losses in certain jurisdictions. The income tax (expense) benefit on certain items is determined using the applicable rates in the taxing jurisdictions in which the certain items occurred and includes both current and deferred income tax (expense) benefit based on the nature of the certain items. Discrete tax items include, but are not limited to, changes in valuation allowance, uncertain tax positions, and other tax items, such as the tax impact of legislative changes and tax accruals on historic earnings due to changes in indefinite reinvestment assertions. Management believes that this non-GAAP financial measure is useful supplemental information because it helps our investors compare our tax rate year to year on a consistent basis and to understand what our tax rate on current operations would be without the impact of these items.

Cabot does not provide a forward-looking reconciliation of the operating tax rate range with an effective tax rate range because, without unreasonable effort, we are unable to predict with reasonable certainty the matters we would allocate to “certain items,” including unusual gains and losses, costs associated with future restructurings, acquisition-related expenses and litigation outcomes. These items are uncertain, depend on various factors, and could have a material impact on the effective tax rate in future periods.

Explanation of Terms Used

Product Mix. The term “product mix” refers to the mix of types and grade of products sold or the mix of geographic regions where products are sold, and the positive or negative impact this has on the revenue or profitability of the business or segment.

Net Working Capital. The term “net working capital” includes accounts receivable, inventory and accounts payable and accrued expenses.

        Third Quarter Earnings Announcement, Fiscal 2026
                CABOT CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS
                Periods ended June 30Three MonthsNine MonthsDollars in millions, except per share amounts (unaudited)2026
 2025
 2026
 2025
        Net sales and other operating revenues$982  $923  $2,735  $2,814 Cost of sales 798   679   2,130   2,094 Gross profit 184   244   605   720 Selling and administrative expenses 73   62   209   192 Research and technical expenses 13   15   40   44 Income (loss) from operations 98   167   356   484 Interest and dividend income 8   7   22   20 Interest expense (18)  (19)  (54)  (56)Other income (expense) (30)  —   (28)  2 Income (loss) from operations before income taxes and equity in earnings of affiliated companies 58   155   296   450 (Provision) benefit for income taxes (46)  (43)  (127)  (133)Equity in earnings of affiliated companies, net of tax 2   1   5   5 Net income (loss) 14   113   174   322 Net income (loss) attributable to noncontrolling interests, net of tax 8   12   27   34 Net income (loss) attributable to Cabot Corporation$6  $101  $147  $288         Weighted-average common shares outstanding       Basic 51.6   53.5   52.1   53.9 Diluted 52.0   53.8   52.4   54.4         Earnings (loss) per common share:       Basic$0.12  $1.87  $2.79  $5.27 Diluted$0.12  $1.86  $2.77  $5.22                  Third Quarter Earnings Announcement, Fiscal 2026                CABOT CORPORATION SUMMARY RESULTS BY SEGMENT                Periods ended June 30Three Months Nine MonthsDollars in millions, except per share amounts (unaudited)2026 2025 2026 2025Sales       Reinforcement Materials$599  $573  $1,663  $1,778 Performance Chemicals 351   320   979   942 Segment sales 950   893   2,642   2,720 Unallocated and other (A) 32   30   93   94 Net sales and other operating revenues$982  $923  $2,735  $2,814         Segment Earnings Before Interest and Taxes (B)       Reinforcement Materials$97  $128  $292  $389 Performance Chemicals 68   57   175   152         Unallocated and Other       Interest expense (18)  (19)  (54)  (56)Certain items (C) (78)  (3)  (94)  (13)Unallocated corporate costs (14)  (13)  (41)  (39)General unallocated income (expense) (D) 5   6   23   22 Less: Equity in earnings of affiliated companies, net of tax 2   1   5   5 Income (loss) from operations before income taxes and equity in earnings of affiliated companies 58   155   296   450 (Provision) benefit for income taxes (including tax certain items) (46)  (43)  (127)  (133)Equity in earnings of affiliated companies, net of tax 2   1   5   5 Net income (loss) 14   113   174   322 Net income (loss) attributable to noncontrolling interests, net of tax 8   12   27   34 Net income (loss) attributable to Cabot Corporation$6  $101  $147  $288         Diluted earnings (loss) per share of common stock attributable to Cabot Corporation$0.12  $1.86  $2.77  $5.22         Adjusted earnings (loss) per share (E)$1.67  $1.90  $4.82  $5.56         Diluted weighted average common shares outstanding 52.0   53.8   52.4   54.4   (A)Unallocated and other reflects external shipping and handling fees, the impact of unearned revenue, and discounting charges for certain Notes receivable. (B)Segment EBIT is a measure used by Cabot's Chief Operating Decision-Maker to assess segment performance and allocate resources. Segment EBIT includes Equity in earnings of affiliated companies, net of tax, Net income attributable to noncontrolling interests, net of tax, and discounting charges for certain Notes receivable. (C)Details of Certain items are presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table. (D)General unallocated income (expense) consists of gains (losses) arising from foreign currency transactions, net of other foreign currency risk management activities, Interest and dividend income, the profit or loss related to the corporate adjustment for unearned revenue and unrealized holding gains (losses) for investments. This does not include items of income or expense from the items that are separately treated as Certain items. (E)Adjusted EPS is a non-GAAP measure, and a reconciliation of Adjusted EPS to GAAP EPS is presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.    Third Quarter Earnings Announcement, Fiscal 2026        CABOT CORPORATION CONSOLIDATED STATEMENTS OF FINANCIAL POSITION         June 30, September 30,Dollars in millions (unaudited)2026 2025    Current assets:   Cash and cash equivalents$250  $258 Accounts and notes receivable, net of reserve for doubtful accounts of $5 and $5 731   671 Inventories:   Raw materials 172   134 Finished goods 329   303 Other 65   67 Total inventories 566   504 Prepaid expenses and other current assets 118   106 Total current assets 1,665   1,539     Property, plant and equipment 4,576   4,405 Accumulated Depreciation (2,837)  (2,694)Net property, plant and equipment 1,739   1,711 Goodwill 137   134 Equity affiliates 19   16 Intangible assets, net 52   55 Deferred income taxes 170   180 Other assets 193   180 Total assets$3,975  $3,815      Third Quarter Earnings Announcement, Fiscal 2026        CABOT CORPORATION CONSOLIDATED STATEMENTS OF FINANCIAL POSITION         June 30, September 30,Dollars in millions, except share and per share amounts (unaudited)2026 2025    Current liabilities:   Short-term borrowings$184  $14 Accounts payable and accrued liabilities 670   648 Income taxes payable 20   35 Current portion of long-term debt 261   260 Total current liabilities 1,135   957     Long-term debt 828   856 Deferred income taxes 36   39 Other liabilities 242   258 Stockholders' equity:   Preferred stock:   Authorized: 2,000,000 shares of $1 par value   Issued and Outstanding: None and none —   — Common stock:   Authorized: 200,000,000 shares of $1 par value Issued: 51,745,475 and 52,962,353 shares Outstanding: 51,631,007 and 52,842,481 shares 52   53 Less cost of 114,468 and 119,872 shares of common treasury stock (3)  (3)Additional paid-in capital —   — Retained earnings 1,823   1,835 Accumulated other comprehensive income (loss) (267)  (335)Total Cabot Corporation stockholders' equity 1,605   1,550 Noncontrolling interests 129   155 Total stockholders' equity 1,734   1,705 Total liabilities and stockholders' equity$3,975  $3,815      Third Quarter Earnings Announcement, Fiscal 2026                        CABOT CORPORATION QUARTERLY RESULTS BY SEGMENT                  Fiscal 2025 Fiscal 2026Dollars in millions,           except per share amounts (unaudited)Dec. QMar. QJune QSept. QFY Dec. QMar. QJune QSept. QFY            Sales           Reinforcement Materials$611 $594 $573 $563 $2,341  $520 $544 $599 $—$1,663 Performance Chemicals 311  311  320  308  1,250   300  328  351  — 979 Segment sales 922  905  893  871  3,591   820  872  950  — 2,642 Unallocated and other (A) 33  31  30  28  122   29  32  32  — 93 Net sales and other operating revenues$955 $936 $923 $899 $3,713  $849 $904 $982 $—$2,735             Segment Earnings Before Interest and Taxes (B)           Reinforcement Materials$130 $131 $128 $119 $508  $102 $93 $97 $—$292 Performance Chemicals 45  50  57  42  194   48  59  68  — 175 Unallocated and Other           Interest expense (18) (19) (19) (20) (76)  (18) (18) (18) — (54)Certain items (C) (6) (4) (3) (17) (30)  (7) (9) (78) — (94)Unallocated corporate costs (13) (13) (13) (13) (52)  (12) (15) (14) — (41)General unallocated income (expense) (D) 7  9  6  6  28   6  12  5  — 23 Less: Equity in earnings of affiliated companies, net of tax 1  3  1  2  7   1  2  2  — 5             Income (loss) from operations before income taxes and equity in earnings of affiliated companies 144  151  155  115  565   118  120  58  — 296 (Provision) benefit for income taxes (including tax certain items) (41) (49) (43) (63) (196)  (37) (44) (46) — (127)Equity in earnings of affiliated companies, net of tax 1  3  1  2  7   1  2  2  — 5 Net income (loss) 104  105  113  54  376   82  78  14  — 174 Net income (loss) attributable to noncontrolling interests, net of tax 11  11  12  11  45   9  10  8  — 27 Net income (loss) attributable to Cabot Corporation$93 $94 $101 $43 $331  $73 $68 $6 $—
$147 Diluted earnings (loss) per share of common stock attributable to Cabot Corporation$1.67 $1.69 $1.86 $0.79 $6.02  $1.37 $1.27 $0.12 $—$2.77 Adjusted earnings (loss) per share (E)$1.76 $1.90 $1.90 $1.70 $7.25  $1.53 $1.61 $1.67 $—$4.82 Diluted weighted average common shares outstanding 55.0  54.4  53.8  53.4  54.2   52.9  52.2  52.0  — 52.4   (A)Unallocated and other reflects external shipping and handling fees, the impact of unearned revenue, and discounting charges for certain Notes receivable. (B)Segment EBIT is a measure used by Cabot's Chief Operating Decision-Maker to assess segment performance and allocate resources. Segment EBIT includes Equity in earnings of affiliated companies, net of tax, Net income attributable to noncontrolling interests, net of tax, and discounting charges for certain Notes receivable. (C)Details of certain items are presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table. (D)General unallocated income (expense) consists of gains (losses) arising from foreign currency transactions, net of other foreign currency risk management activities, Interest and dividend income, the profit or loss related to the corporate adjustment for unearned revenue and unrealized holding gains (losses) for investments. This does not include items of income or expense from the items that are separately treated as Certain items. (E)Adjusted EPS is a non-GAAP measure, and a reconciliation of Adjusted EPS to GAAP EPS is presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.    Third Quarter Earnings Announcement, Fiscal 2026                        CABOT CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS                        Periods ended June 30Three Months Nine MonthsDollars in millions (unaudited)2026 2025 2026 2025            Cash Flows from Operating Activities:           Net income (loss)$ 14  $113  $ 174  $322 Adjustments to reconcile net income to cash provided by operating activities:           Depreciation and amortization50  39  140  114 Other non-cash charges (gains), net78  13  74  38 Cash dividends received from equity affiliates1  1  2  13 Changes in assets and liabilities:           Changes in net working capital(A)(44) 101  (58) (13)Changes in other assets and liabilities, net(24) (18) (54) (28)                            Cash provided by (used in) operating activities75  249  278  446             Cash Flows from Investing Activities:                Additions to property, plant and equipment(38) (61) (152) (210)     Acquisition of business, net of cash acquired—  —  (66) —      Asset acquisition—  —  —  (27)     Other investing activities, net—  (4) 2  (2)                            Cash provided by (used in) investing activities(38) (65) (216) (239)            Cash Flows from Financing Activities:                Change in debt, net(25) (82) 132  65      Cash dividends paid to common stockholders(24) (24) (72) (71)     Other financing activities, net—  (77) (148) (184)                            Cash provided by (used in) financing activities(49) (183) (88) (190)Effect of exchange rate changes on cash11  25  19  (1)Increase (decrease) in cash, cash equivalents and restricted cash(1) 26  (7) 16 Cash, cash equivalents and restricted cash at beginning of period252  213  258  223 Cash, cash equivalents and restricted cash at end of period (B)$ 251  $239  $ 251  $239   (A)Includes Accounts and notes receivable, Inventories, and Accounts payable and accrued liabilities. (B)Restricted cash was $1 million as of June 30, 2026. There was no restricted cash as of June 30, 2025.    Third Quarter Earnings Announcement, Fiscal 2026
                              CABOT CORPORATION CERTAIN ITEMS AND RECONCILIATION OF ADJUSTED EPS AND OPERATING TAX RATE              TABLE 1: DETAIL OF CERTAIN ITEMS      Periods ended June 30Three MonthsNine Months  Dollars in millions, except per share amounts (unaudited)2026202520262025    Certain items before and after income taxes      Global restructuring activities$(42)$(3)$(57)$(6)  Employee benefit plan settlement and other charges (30) —  (30) —   Legal and environmental matters and reserves (5) —  (5) (6)  Acquisition and integration-related charges (1) —  (2) —   Other certain items —  —  —  (1)  Total certain items, pre-tax (78) (3) (94) (13)  Non-GAAP tax adjustments(A) (4) —  (14) (6)         Total certain items after tax$(82)$(3)$(108)$(19)  Total certain items after tax per share$(1.55)$(0.04)$(2.05)$(0.34)         TABLE 2: CERTAIN ITEMS STATEMENT OF OPERATIONS LINE ITEM      Periods ended June 30Three MonthsNine Months  Dollars in millions, Pre-Tax (unaudited)2026202520262025  Statement of Operations Line Item (B)      Cost of sales$(46)$(2)$(59)$(10)  Selling and administrative expenses (2) (1) (5) (2)  Research and technical expenses —  —  —  (1)  Other income (expense) (30) —  (30) —   Total certain items$(78)$(3)$(94)$(13)         TABLE 3: RECONCILIATION OF EFFECTIVE TAX RATE TO OPERATING TAX RATE     Three months ended June 30 2026  2025   Dollars in millions (unaudited)(Provision) / Benefit for Income TaxesRate(Provision) / Benefit for Income TaxesRate  Effective Tax Rate$(46) 79%$(43) 28%  Less: Non-GAAP tax adjustments(A) (4)  —    Operating tax rate (C) (D)$(42) 31%$(43) 28%         Nine months ended June 30 2026  2025   Dollars in millions (unaudited)(Provision) / Benefit for Income TaxesRate(Provision) / Benefit for Income TaxesRate         Effective Tax Rate$(127) 43%$(133) 29%  Less: Non-GAAP tax adjustments(A) (14)  (6)   Operating tax rate (C) (D)$(113) 29%$(127) 28%                TABLE 4: RECONCILIATION OF ADJUSTED EPS BY QUARTER FOR FISCAL 2026 and FISCAL 2025     Fiscal 2026 (E)Periods ended (unaudited)Dec. QMar. QJune QSept. Q FY 2026Reconciliation of Adjusted EPS to GAAP EPS      Net income (loss) per share attributable to Cabot Corporation$1.37 $1.27 $0.12 $—  $2.77 Less: Certain items after tax per share (0.16) (0.34) (1.55) —  $(2.05)Adjusted earnings (loss) per share$1.53 $1.61 $1.67 $—  $4.82         Fiscal 2025 (E)Periods ended (unaudited)Dec. QMar. QJune QSept. Q FY 2025Reconciliation of Adjusted EPS to GAAP EPS      Net income (loss) per share attributable to Cabot Corporation$1.67 $1.69 $1.86 $0.79  $6.02 Less: Certain items after tax per share (0.09) (0.21) (0.04) (0.91)  (1.23)Adjusted earnings (loss) per share$1.76 $1.90 $1.90 $1.70  $7.25   (A)Non-GAAP tax adjustments are made to arrive at the operating tax provision. It includes the income tax (expense) benefit on certain items, discrete tax items, and, on a quarterly basis the timing of losses in certain jurisdictions. The income tax (expense) benefit on certain items is determined using the applicable rates in the taxing jurisdictions in which the certain items occurred and includes both current and deferred income tax (expense) benefit based on the nature of the certain items. Discrete tax items include, but are not limited to, changes in valuation allowance, uncertain tax positions, and other tax items, such as the tax impact of legislative changes and tax accruals on historic earnings due to changes in indefinite reinvestment assertions. (B)This table indicates the line items where certain items are recorded in the Consolidated Statements of Operations. (C)The operating tax rate is calculated based upon management's forecast of the annual operating tax rate for the fiscal year applied to adjusted pre-tax earnings. The operating tax rate excludes income tax (expense) benefit on certain items, discrete tax items and, on a quarterly basis the timing of losses in certain jurisdictions. (D)Our operating tax rate for fiscal 2026 is expected to be in the range of 28% to 30%. (E)Per share amounts are calculated after tax.    Third Quarter Earnings Announcement, Fiscal 2026            CABOT CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES             Fiscal 2026 (A) Dec. QMar. QJune QSept. QFY 2026Reconciliation of Adjusted EPS to GAAP EPS     Net income (loss) per share attributable to Cabot Corporation$1.37 $1.27 $0.12 $— $2.77 Less: Certain items after tax per share (0.16) (0.34) (1.55) —  (2.05)Adjusted earnings (loss) per share$1.53 $1.61 $1.67 $— $4.82        Fiscal 2025 (A) Dec. QMar. QJune QSept. QFY 2025Reconciliation of Adjusted EPS to GAAP EPS     Net income (loss) per share attributable to Cabot Corporation$1.67 $1.69 $1.86 $0.79 $6.02 Less: Certain items after tax per share (0.09) (0.21) (0.04) (0.91) (1.23)Adjusted earnings (loss) per share$1.76 $1.90 $1.90 $1.70 $7.25       (A) Per share amounts are calculated after tax.      Dollars in millionsFiscal 2026 Dec. QMar. QJune QSept. QFY 2026Reconciliation of Adjusted EBITDA to Income (loss) from operations before income taxes and equity in earnings of affiliated companies     Income (loss) from operations before income taxes and equity in earnings of affiliated companies$118 $120 $58 $―
 $296 Interest expense 18  18  18  —  54 Certain items 7  9  78  —  94 General unallocated (income) expense (6) (12) (5) —  (23)Less: Equity in earnings of affiliated companies (1) (2) (2) —  (5)Depreciation and amortization 41  44  43  —  128 Adjusted EBITDA$179 $181 $194 $―
 $554       Dollars in millionsDec. QMar. QJune QSept. QFY 2026Reinforcement Materials EBIT$102 $93 $97 $―
 $292 Reinforcement Materials Depreciation and amortization 19  21  20  —  60 Reinforcement Materials EBITDA$121 $114 $117 $―
 $352 Reinforcement Materials Sales$520 $544 $599 $― $1,663 Reinforcement Materials EBITDA Margin 23% 21% 20% —% 21%      Dollars in millionsDec. QMar. QJune QSept. QFY 2026Performance Chemicals EBIT$48 $59 $68 $―
 $175 Performance Chemicals Depreciation and amortization 22  23  23  —  68 Performance Chemicals EBITDA$70 $82 $91 $―
 $243 Performance Chemicals Sales$300 $328 $351 $― $979 Performance Chemicals EBITDA Margin 23% 25% 26% —% 25%      Dollars in millionsFiscal 2026Reconciliation of Free Cash Flow and Discretionary Free Cash Flow to Cash provided by (used in) operating activitiesDec. QMar. QJune QSept. QFY 2026Cash provided by (used in) operating activities (B)$126 $77 $75 $―
 $278 Less: Additions to property, plant and equipment 69  45  38  —  152 Free cash flow$57 $32 $37 $―
 $126 Plus: Additions to property, plant and equipment 69  45  38  —  152 Less: Changes in net working capital (C) 5  (19) (44) —  (58)Less: Sustaining and compliance capital expenditures 50  33  28  —  111 Discretionary free cash flow$71 $63 $91 $―
 $225                 (B) As provided in the Condensed Consolidated Statements of Cash Flows.(C) Defined as changes in Accounts and notes receivable, Inventories, and Accounts payable and accrued liabilities as presented on the Condensed Consolidated Statements of Cash Flows.                

Cabot (CBT - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.

Therefore, the Zacks rating upgrade for Cabot basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For Cabot, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for CabotThis chemical company is expected to earn $6.35 per share for the fiscal year ending September 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Cabot. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.3%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Cabot to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Key Takeaways Cabot's shares have surged 32.5% this year amid battery materials growth and cost optimization.Multi-year supply deals, capacity expansion and new products support Cabot's long-term growth.Weak tire demand, tariff uncertainty and heavy capital spending pressure Cabot's near-term outlook. Cabot Corporation’s (CBT - Free Report) shares have surged 32.5% so far this year on the back of battery materials business momentum, strategic portfolio expansion and cost optimization actions, which have helped offset a challenging market environment. The Zacks Chemical - Diversified industry grew 16.8% during the same period.

Image Source: Zacks Investment Research

Let’s find out why CBT stock is worth retaining at the moment. 

Battery Materials Momentum & Strategic Initiatives Aid CBTCabot is well positioned to benefit from the demand growth in battery materials, supported by the rising adoption of electric vehicles and the rapid build-out of battery energy storage systems. Strong customer service, multi-year supply agreements and expanding capacities have fueled robust growth in the Battery Materials product line, while the company expects further upside in fiscal 2026.

Beyond battery materials, Cabot continues to strengthen its portfolio through strategic acquisitions and new product introductions, including sustainable solutions under its EVOLVE platform. The company is also optimizing costs by rationalizing assets in South America and Europe. Healthy cash generation, disciplined capital allocation and continued shareholder returns further reinforce Cabot's long-term growth outlook.

Cabot is pursuing asset optimization across its global plant network, with an intention of capacity rationalization at operations in South America and Europe, subject to local consultation processes. Management expects these actions to generate approximately $22 million of annualized fixed-cost savings once fully implemented.

Weak Tire Market & Volume Pressures Cloud Near-Term OutlookDespite its strategic progress, Cabot faces several near-term challenges. The company's Reinforcement Materials business continues to experience challenges in the tire market in North America and the Asia Pacific, exerting volume pressure. Softer demand, pricing environment, intense competition and pressure from annual contract negotiations have weighed on profitability.

Tariff-related uncertainty has also led customers to adopt a cautious approach, resulting in reduced volumes across the business. Moreover, the company's significant capital spending on capacity expansion, compliance and other strategic programs is likely to weigh on free cash flow in the near term, even though these investments are expected to support long-term growth.

CBT’s Zacks Rank & Key PicksCBT carries a Zacks Rank #3 (Hold). 

Some better-ranked stocks in the Basic Materials space are Kronos Worldwide, Inc. (KRO - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .

While KRO sports a Zacks Rank #1 (Strong Buy) at present, CRS and ASM carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for KRO’s 2026 loss is pinned at 33 cents per share, indicating a 65.63% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed the rest. KRO’sshares have gained 4.2% over the past year.

The Zacks Consensus Estimate for CRS’ fiscal 2026 earnings is pegged at $10.56 per share, indicating a rise of 41.18% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.95%.

The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 34 cents per share, indicating a 17.24% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 125%. ASM’s shares have gained 37.7% over the past year.

BOSTON, July 09, 2026 (GLOBE NEWSWIRE) -- Cabot Corporation (NYSE: CBT) today announced that it will release operating results for the third quarter of fiscal 2026 on Monday, August 3, 2026, after the market close. The Company will host a conference call and live webcast to review the third quarter results beginning at 8:00 AM (ET) on Tuesday, August 4, 2026.

The call will be webcast by Notified and may be accessed through Cabot’s website at https://cabotog.gcs-web.com/. If you are unable to participate during the live webcast, the call and accompanying slide presentation will be archived in the Investor Relations section of the Company’s website at https://cabotog.gcs-web.com/.

ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025.

BOSTON, June 18, 2026 (GLOBE NEWSWIRE) -- Cabot Corporation (NYSE: CBT) has earned a platinum rating from EcoVadis, the highest recognition available, for the sixth consecutive year. The platinum rating recognizes Cabot’s environmental, social and governance (ESG) efforts and places the company among the top 1% of companies assessed by EcoVadis globally. This prestigious recognition highlights Cabot’s dedication to the innovation of meaningful environmental and social progress as well as its ongoing commitment to advancing transparency across its value chain.

EcoVadis assesses the sustainability performance and management systems of more than 150,000 companies in over 185 countries across more than 250 industries within four key areas: environment, labor & human rights, ethics, and sustainable procurement. This year, Cabot achieved a five point increase in its overall score, representing its largest year-over-year improvement to date, with notable gains made in the ethics category. The company once again earned an “outstanding” rating in both the environment category and labor & human rights categories, the highest recognition awarded by EcoVadis. The EcoVadis methodology is built on international sustainability standards, including the Global Reporting Initiative, United Nations Global Compact and ISO 26000.

“We are encouraged by this year’s EcoVadis results, which reflect meaningful progress across our sustainability program and our largest year-over-year score increase to date,” said Jennifer Chittick, Senior Vice President, Safety, Health and Environment (SH&E) and Government Affairs; Chief Sustainability Officer. “These results demonstrate how greater transparency, stronger cross-functional collaboration and disciplined execution are helping us strengthen how we operate while advancing progress toward our 2030 sustainability goals.”

As EcoVadis continues to enhance its scoring frameworks to reflect evolving global standards and best practices, Cabot remains equally committed to advancing the rigor and impact of its sustainability initiatives and ESG efforts throughout all aspects of its operations. The company continues to drive innovation across its operations, strengthening performance and transparency in alignment with these rising expectations. This ongoing progress is underpinned by a company-wide commitment to continuous improvement and a shared belief in contributing to a more sustainable future.

For more information about Cabot’s commitment to sustainability and its ESG disclosures, visit cabotcorp.com/sustainability.

ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.

Contact:  Vanessa Craigie Corporate Communications [email protected] (617) 342-6015   Robert Rist Investor Relations [email protected] (617) 342-6374

Shares of Cabot Corporation (NYSE: CBT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on

BOSTON, April 09, 2026 (GLOBE NEWSWIRE) -- Cabot Corporation (NYSE: CBT) today announced that it will release operating results for the second quarter of fiscal 2026 on Tuesday, May 5, 2026, after the market close. The Company will host a conference call and live webcast to review the second quarter results beginning at 8:00 AM (ET) on Wednesday, May 6, 2026.

The call will be webcast by Notified and may be accessed through Cabot’s website at https://cabotog.gcs-web.com/. If you are unable to participate during the live webcast, the call and accompanying slide presentation will be archived in the Investor Relations section of the Company’s website at https://cabotog.gcs-web.com/.

ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025.

BOSTON, May 04, 2026 (GLOBE NEWSWIRE) -- On May 1, 2026, the Board of Directors of Cabot Corporation (NYSE: CBT) declared a quarterly dividend of $0.4725 per share, an increase of 5% compared to the current quarterly dividend of $0.45 per share, payable on all outstanding shares of the Corporation’s common stock. The dividend is payable on June 12, 2026, to stockholders of record of such common stock at the close of business on May 29, 2026.

“Today’s dividend increase reflects the Board’s confidence in Cabot’s strong cash flow generation, robust liquidity position, and the durability of our earnings,” said Sean Keohane, President and Chief Executive Officer of Cabot Corporation. “Increasing the dividend by 5% is a clear demonstration of our commitment to returning cash to shareholders, consistent with our capital allocation framework. At the same time, Cabot remains well positioned to continue investing in growth while maintaining a strong and flexible balance sheet.”

On an annualized basis, the new dividend rate will be $1.89 per share versus $1.80 per share, previously.

About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com. The Company regularly posts important information on its website and encourages investors and potential investors to consult the Cabot website regularly.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts, including our strong cash flow generation, robust liquidity position and the durability of our earnings, are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025.

Cabot (CBT - Free Report) came out with quarterly earnings of $1.61 per share, beating the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $1.9 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +9.61%. A quarter ago, it was expected that this chemical company would post earnings of $1.4 per share when it actually produced earnings of $1.53, delivering a surprise of +9.29%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Cabot, which belongs to the Zacks Chemical - Diversified industry, posted revenues of $904 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 1.33%. This compares to year-ago revenues of $936 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Cabot shares have added about 14.4% since the beginning of the year versus the S&P 500's gain of 5.2%.

What's Next for Cabot?While Cabot has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Cabot was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.67 on $912.98 million in revenues for the coming quarter and $6.27 on $3.56 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Diversified is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Kronos Worldwide (KRO - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.

This maker of titanium dioxide pigments is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of -306.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Kronos Worldwide's revenues are expected to be $523.79 million, up 6.9% from the year-ago quarter.

Company recognized for its commitment to employee health and safety, and leadership in waste management May 07, 2026 09:00 ET  | Source: Cabot Corporation

BOSTON, May 07, 2026 (GLOBE NEWSWIRE) -- Cabot Corporation (NYSE: CBT) has earned two 2026 Responsible Care® Awards from the American Chemistry Council (ACC): the Waste & Water Stewardship Award and Facility Safety Award. These accolades underscore Cabot’s strong commitment and leadership to protecting employee health and safety, and to responsibly managing its environmental impact. The company was also selected as one of two finalists for the Responsible Care Initiative of the Year Award, reinforcing its dedication to developing innovative initiatives that advance safety performance.

Each year through the Responsible Care Awards Program, the ACC honors chemical industry leaders that have made an exceptional commitment to environmental, health, safety & security (EHS&S) performance, sustainability and sound chemicals management.

The following accolades were awarded to Cabot at the ACC Responsible Care Conference held in Fort Lauderdale, Florida, USA:

Waste Management & Water Stewardship Award: This award is presented to ACC member companies with substantial achievements in waste minimization and water stewardship. Cabot received the exceptional merit distinction for its innovative management of the synthetic gypsum generated by the air pollution control system at its manufacturing facility in Franklin, Louisiana, USA. The team identified and implemented a beneficial reuse opportunity for synthetic gypsum in the cement industry, resulting in successfully diverting nearly 15,000 metric tons of synthetic gypsum from landfills in 2025. This initiative addresses air emissions control requirements while significantly reducing downstream waste by converting a byproduct into a valuable resource.
Facility Safety Award: This award recognizes companies with significant achievements in employee health and safety performance. Based on 2025 performance, nearly all of Cabot’s U.S. manufacturing sites received a Facility Safety Award. This achievement reflects Cabot’s continued focus on improving safety performance and maintaining strong safety practices across its operations. “We are honored to be recognized by the ACC for our leadership in advancing safety and sustainability performance,” said Jennifer Chittick, senior vice president, Safety, Health and Environment (SH&E) and chief sustainability officer. “At Cabot, we believe our employees are our most valuable asset, and our long-standing commitment to safe working conditions, employee involvement in safety efforts, and workplace wellness is deeply embedded in our culture to ensure that all employees, contractors, and visitors return home safely each day. Furthermore, we remain committed to protecting the environment and reducing our impact through focused initiatives that drive lasting, positive change while strengthening our environmental performance in the communities where we operate.”

The Responsible Care Awards Program recognizes companies that exemplify leadership and outstanding performance based on the implementation and execution of the Responsible Care program. Responsible Care awardees qualify based on exemplary performance and are selected by a committee of internal and external experts. In addition, awards are given to organizations and employees in areas of facility safety, product safety, energy efficiency, waste minimization, and more.

Since joining the ACC in 2010, Cabot has adopted the chemical industry’s voluntary Responsible Care initiative and the Responsible Care Global Charter, committing to continuously improving its health, safety, environmental, and security performance across the organization. As an active leader in Responsible Care, Cabot is helping to drive ongoing improvements in the safety and sustainability of its products and operations worldwide in alignment with its sustainability strategy.

To learn more about Cabot’s commitment to safety and sustainability, visit cabotcorp.com/sustainability.

ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see “Risk Factors” in the Company's Annual Report on Form 10-K.

On May 19, 2026, Cabot Corp CBT shares fell 4.1% to a current price of $78.60. This decline comes amidst a broader context where the stock has seen a 52-week range between $58.33 and $86.43.

GF Value™ verdict: The current price is $78.60, which is 4.2% above the GF Value™ of $75.42, indicating the stock is slightly overvalued.GF Score™ of 75/100 suggests that CBT is above average in quality compared to its peers.Most notable signal: There have been no insider transactions in the last 3 months, indicating a lack of insider activity. Is CBT Overvalued or Undervalued? According to the GF Value™, Cabot Corp CBT is currently trading at a price of $78.60, which is 4.2% above its estimated fair value of $75.42. This overvaluation suggests a potential risk for investors as the current price does not provide a margin of safety. The GF Valuation label indicates that CBT is fairly valued, but this is misleading in the context of its current trading price compared to the GF Value™. If the price does not adjust downwards, investors may face a decline in value as the market corrects itself.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Investors should be cautious in considering the stock’s current valuation, especially in light of the potential for a market correction.

How Does CBT's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 14.9x 12.6x Forward P/E 12.4x N/A The current P/E (TTM) of 14.9x is significantly above its 5-year median P/E of 12.6x, indicating that the stock is trading at a premium compared to its historical valuation. This analysis aligns with the GF Value™ verdict, reinforcing the notion that CBT may be overvalued at present levels.

What Does CBT's GF Score™ Tell Us? Metric Rating GF Score™ 75 Financial Strength 6/10 Profitability 7/10 Growth 3/10 Valuation 7/10 Momentum 8/10 Cabot Corp's GF Score™ of 75/100 suggests that it is above average in quality compared to its peers. The strongest area is its Momentum rank of 8/10, indicating a positive trend in share price performance. However, the weakest aspect is its Growth rank of 3/10, which may raise concerns about future earnings expansion.

What Are Insiders Doing with CBT Stock? There have been no insider transactions in the last 3 months for Cabot Corp CBT . This lack of insider activity might suggest that company executives are not currently confident in the stock's future performance or may simply indicate that there are no immediate opportunities for insiders to buy or sell. Absence of insider transactions can sometimes indicate caution among company leaders.

What This Means for Investors Based on the GF Value™ analysis, Cabot Corp CBT is currently considered overvalued at its price of $78.60 compared to the estimated fair value of $75.42. Investors may want to exercise caution as the market adjusts to this valuation discrepancy.

For the complete analysis, visit the Cabot Corp CBT stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is CBT's GF Score™?

CBT's GF Score™ is 75/100, indicating that the stock is above average in quality compared to its peers.

Is CBT overvalued or undervalued?

CBT is currently overvalued, with a GF Value™ of $75.42 compared to its market price of $78.60.

What is CBT's P/E ratio?

CBT's P/E (TTM) is 14.9x, which is significantly above its 5-year median P/E of 12.6x, suggesting it is trading at a premium compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

It has been about a month since the last earnings report for Cabot (CBT - Free Report) . Shares have added about 3.5% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Cabot due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Cabot Corporation before we dive into how investors and analysts have reacted as of late.

Cabot’s Q2 Earnings Beat Estimates on Battery Materials StrengthCabot posted second-quarter fiscal 2026 adjusted earnings of $1.61 per share, down 15.3% from the year-ago quarter but ahead of the Zacks Consensus Estimate of $1.47 by 9.5%. 

Revenues were $904 million, down 3.4% year over year and below the consensus mark of $916.1 million by 1.3%. 

On a reported basis, Cabot logged net income attributable to the company of $68 million, down from $94 million in the prior-year quarter. Earnings were $1.27 per share compared with $1.69 a year ago. Profitability moderated year over year as a combined impact of lower gross profit and modestly higher operating costs. 

Cabot pointed to disciplined execution in a challenging environment, while battery materials demand tied to energy storage systems and EV-related applications continued to support results. 

Segment HighlightsReinforcement Materials sales were $544 million, down from $594 million in the year-ago quarter. It missed the Zacks Consensus Estimate of $583 million. Segment EBIT declined to $93 million from $131 million, as pricing and product mix pressured gross profit per ton in calendar 2026 tire customer agreements. 

Competitive intensity in the Asia Pacific also weighed on profitability. Volumes increased 3% globally, with year-over-year gains across all regions, but the benefit from higher volumes was more than offset by weaker pricing and mix. 

Performance Chemicals generated sales of $328 million, up from $311 million a year ago. It surpassed the Zacks Consensus Estimate of $315 million. Segment EBIT improved to $59 million from $50 million, primarily driven by higher gross profit per ton from a favorable product mix and optimization efforts. 

Cabot also cited higher volumes in its battery materials and specialty carbons product lines. Management highlighted continuing momentum in battery materials, supported by strong execution and demand tied to battery energy storage systems. 

FinancialsCabot ended the second quarter of fiscal 2026 with a cash balance of $252 million. Cash provided by operating activities was $77 million during the quarter, supporting continued investment and shareholder returns. 

Capital expenditures were $45 million in the period. The company also paid $24 million in dividends during the quarter and repurchased $49 million of shares. 

The company ended the quarter with a net debt-to-EBITDA ratio of 1.5x. 

OutlookFor fiscal 2026, Cabot reaffirmed its adjusted earnings guidance range of $6.00 to $6.50 per share. It incorporates its assessment of the conflict in the Middle East and the uncertainty it creates, with expectations for stable near-term demand but caution around potential shifts later in the fiscal year. 

The company also expects to maintain margins with price increases intended to offset higher input costs across both segments. Cabot continues to focus on commercial excellence and cost management as it navigates elevated energy costs and geopolitical uncertainty. 

Separately, Cabot is pursuing asset optimization across its global plant network, with an intention of capacity rationalization at operations in South America and Europe, subject to local consultation processes. Management expects these actions to generate approximately $22 million of annualized fixed-cost savings once fully implemented.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in fresh estimates.

VGM ScoresAt this time, Cabot has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Interestingly, Cabot has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerCabot belongs to the Zacks Chemical - Diversified industry. Another stock from the same industry, Methanex (MEOH - Free Report) , has gained 0.3% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

Methanex reported revenues of $974 million in the last reported quarter, representing a year-over-year change of +8.7%. EPS of $0.30 for the same period compares with $1.30 a year ago.

For the current quarter, Methanex is expected to post earnings of $2.88 per share, indicating a change of +196.9% from the year-ago quarter. The Zacks Consensus Estimate has changed +57.9% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #1 (Strong Buy) for Methanex. Also, the stock has a VGM Score of D.