Cabot Corp. (CBT: Quote) Tuesday reported an increase in profit for the third quarter, due mainly to higher revenues.
The Boston, Massachusetts-based company's attributable net profit for the third quarter was $66 million or $1.02 per share, compared to $60 million or $0.92 per share last year.
Adjusted earnings for the quarter rose to $1.00 per share from $0.76 per share in the prior-year quarter.
On average, seven analysts polled by Thomson Reuters expected the company to earn $1.00 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $846 million from $836 million in the prior-year quarter. Three analysts had a consensus revenue estimate of $909.00 million for the quarter.
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by RTT Staff Writer
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