Cabot (US:CBT) ZACKSยท2024-09-19 17:36Core Insights - Cabot Corporation's shares reached a 52-week high of $110.98, closing at $107.85, with a stock appreciation of 55.8% over the past year, contrasting with a 4.3% decline in the industry [1] - The Performance Chemicals division saw sales increase by 8.1% year over year to $332 million, with EBIT rising 72% to $55 million, driven by strong demand in automotive, infrastructure, and semiconductor markets [1][2] - The Reinforcement Materials segment also experienced growth due to increased volumes in Europe and Asia Pacific, along with improved pricing and product mix [2] Financial Outlook - Cabot raised its fiscal 2024 adjusted EPS guidance to $7.00-$7.10, reflecting a 30-cent increase at the midpoint, driven by anticipated strong results from both the Performance Chemicals and Reinforcement Materials segments [2] - The Zacks Consensus Estimate for fiscal 2024 earnings is $7.07, indicating a 31.4% year-over-year increase, with expected earnings growth of 10.6% in fiscal 2025 [3] Earnings Performance - The company has consistently surpassed the Zacks Consensus Estimate in the last four quarters, with an average earnings surprise of 8.6% [3] - In the past two months, the Zacks Consensus Estimate for Cabot's fiscal 2024 earnings has been revised upward by 4.3% [3] Market Position - Cabot currently holds a Zacks Rank 2 (Buy), indicating a favorable market position [4]