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Cabot (CBT) Issues an Update on Business Results for Q4
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Cabot Corporation (CBT - Free Report) recently issued an update on business results for fourth-quarter fiscal 2020. The company stated that volumes continued to recover in the fiscal fourth quarter on a sequential comparison basis.
In the Reinforcement Materials unit, the company expects EBIT to be $59 million for the fiscal fourth quarter, which will be driven by a 56% surge in volumes compared with the prior-quarter levels.
In the Performance Chemicals unit, Cabot expects EBIT to be $25 million in the fiscal fourth quarter. Margins are expected to be driven by a 1% rise in volumes in Formulated Solutions and 3% increase in volumes in Performance Additives compared with prior-quarter levels.
In the Purification Solutions unit, the company expects EBIT to be breakeven in the to-be-reported quarter.
For the fiscal fourth quarter, Cabot anticipates cash flow from operations to be around $100 million. The same is expected to be around $250 million for the second half of fiscal 2020, higher than the previously-announced expectation of $200 million.
Cabot rescheduled the release of operating results for the fourth quarter and fiscal 2020 to Nov 23.
Shares of Cabot have lost 13.3% in the past year compared with the industry’s 1.7% decline.
Zacks Rank & Key Picks
Cabot currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Agnico Eagle Mines Limited (AEM - Free Report) , Northern Dynasty Minerals, Ltd. (NAK - Free Report) and B2Gold Corp (BTG - Free Report) . While Agnico Eagle sports a Zacks Rank #1 (Strong Buy), Northern Dynasty Minerals and B2Gold carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Agnico Eagle has an expected earnings growth rate of 103.1% for 2020. Its shares have returned 45.5% in the past year.
Northern Dynasty Minerals has an expected earnings growth rate of 42.9% for 2020. The company’s shares have surged 33.9% in the past year.
B2Gold has an expected earnings growth rate of 257.1% for 2020. The company’s shares have gained 104.1% in the past year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Cabot (CBT) Issues an Update on Business Results for Q4
Cabot Corporation (CBT - Free Report) recently issued an update on business results for fourth-quarter fiscal 2020. The company stated that volumes continued to recover in the fiscal fourth quarter on a sequential comparison basis.
In the Reinforcement Materials unit, the company expects EBIT to be $59 million for the fiscal fourth quarter, which will be driven by a 56% surge in volumes compared with the prior-quarter levels.
In the Performance Chemicals unit, Cabot expects EBIT to be $25 million in the fiscal fourth quarter. Margins are expected to be driven by a 1% rise in volumes in Formulated Solutions and 3% increase in volumes in Performance Additives compared with prior-quarter levels.
In the Purification Solutions unit, the company expects EBIT to be breakeven in the to-be-reported quarter.
For the fiscal fourth quarter, Cabot anticipates cash flow from operations to be around $100 million. The same is expected to be around $250 million for the second half of fiscal 2020, higher than the previously-announced expectation of $200 million.
Cabot rescheduled the release of operating results for the fourth quarter and fiscal 2020 to Nov 23.
Shares of Cabot have lost 13.3% in the past year compared with the industry’s 1.7% decline.
Zacks Rank & Key Picks
Cabot currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Agnico Eagle Mines Limited (AEM - Free Report) , Northern Dynasty Minerals, Ltd. (NAK - Free Report) and B2Gold Corp (BTG - Free Report) . While Agnico Eagle sports a Zacks Rank #1 (Strong Buy), Northern Dynasty Minerals and B2Gold carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Agnico Eagle has an expected earnings growth rate of 103.1% for 2020. Its shares have returned 45.5% in the past year.
Northern Dynasty Minerals has an expected earnings growth rate of 42.9% for 2020. The company’s shares have surged 33.9% in the past year.
B2Gold has an expected earnings growth rate of 257.1% for 2020. The company’s shares have gained 104.1% in the past year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>