Cabot earnings, sales fall due to inventory destocking

摘要

Cabot Corporation reports fscal frst-quarter net income down 40.6% year on year (YOY) to $41 million, while net sales fell 11.4% to $727 million. Adjusted earnings fell 20.7% YOY to 69 cents/share, short of analysts’ consensus estimate of 73 cents/ share, as reported by Refnitiv (New York, New York).