Cabot Q1 adjusted EPS $0.98, reaffirms FY23 guidance $6.25-$6.75

CABOT CORP

2023-Q1 EPS reported $0.93 revenue$965,000,000

Diluted EPS $0.93; adjusted EPS $0.98; net income $54M; revenue $965M (nearly flat YoY).
Reinforcement Materials EBIT $94M (+11% YoY) on improved margins; Performance Chemicals EBIT fell $23M due to destocking.
Battery Materials volumes up 63% YoY; plans to increase U.S. manufacturing capacity over next 5 years.
Calendar 2023 Reinforcement Materials customer agreements finalized with ~$100M annualized EBIT improvement expected.
FY2023 adjusted EPS guidance reaffirmed at $6.25-$6.75; liquidity ~$1.1B at Dec 31, 2022.

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