Cabot Corporation (CBT), a specialty chemicals and performance materials company, reported lower second-quarter earnings impacted by weaker sales.
Net income attributable to shareholders declined to $68 million or $1.27 per share, from $94 million or $1.69 per share in the same quarter last year.
Excluding one-time items, earnings were $1.61 per share.
Operating income fell to $129 million from $162 million a year ago.
Net sales and other operating revenues declined to $904 million from $936 million last year.
Looking ahead to the full year, the company confirmed its adjusted EPS guidance of $6.00 to $6.50.
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