BOSTON—Cabot Corp. reported higher net sales and income in its second quarter of fiscal year 2017.
Net sales increased to $678 million, a 17.7 percent change compared to the same period in 2016, according to its latest financial statement.
Primarily, larger volumes across all segments are responsible for driving the growth, said Sean Keohane, Cabot president and CEO.
Including first quarter fiscal year 2017, net sales rose to $1,289, compared to $1,171 in 2016, a 10 percent increase.
Broken down by segment, Performance Chemicals' EBIT decreased by $7 million from 2016, because of lower unit margins from the impact of higher feedstock costs, lower volumes in chemical mechanical planarization applications and higher fixed costs. These impacts were partially offset by increased volumes of 15 percent in the specialty carbons and formulations business and 2 percent in the metal oxides business.
Sales for Performance Chemicals increased by 5 percent to $228 million. During the six-month span, it increased by 2 percent to $433 million.
Sales for Specialty Carbons and Formulations grew 11 percent to $162 million for the quarter and is up 5 percent to $300 million for the half-year.