BOSTON (AP) — BOSTON (AP) — Cabot Corp. (CBT) on Monday reported fiscal second-quarter profit of $94 million.
On a per-share basis, the Boston-based company said it had profit of $1.69. Earnings, adjusted for non-recurring costs, were $1.90 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.
The chemical company posted revenue of $936 million in the period.
Cabot expects full-year earnings in the range of $7.15 to $7.50 per share.
Cabot shares have dropped 15% since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.50, a drop of 18% in the last 12 months.
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