BOSTON—Cabot Corp. has reported a "record performance" in its fiscal third quarter, helped by strong growth within its reinforcement materials business which manufactures rubber carbon blacks.
During the quarter ended June 30, the business unit reported a 33-percent increase in earnings (EBIT) to $113 million, on 47.5-percent higher sales of $707 million.
The gains reflected improved unit margins from higher pricing in 2022 customer agreements and higher volumes across all regions, President and CEO Sean Keohane said in an Aug. 9 conference call.
The increased earnings, however, were partially offset by higher fixed costs associated with increased utilities and the unfavorable foreign currency impact.
According to Keohane, volumes were up 5 percent year-on-year globally, reflecting a 6-percent growth in the Americas, 10 percent in Europe and 1 percent in Asia.