Cabot reports improved earnings for reinforcement materials unit

Boston, Massachusetts – Cabot Crop. has reported improved sales and earnings (EBITDA) within its reinforcement materials business unit for the third quarter of fiscal year, ending 30 Sept.

The business unit which includes rubber carbon black and composite elastomer products, saw earnings grow 2% year-on-year for the quarter to $152 million (€137 million), Cabot reported 5 Aug.

Sales for the period increased 4% year-on-year to $649 million, largely driven by higher volumes in Europe and Asia Pacific and improved pricing and product mix.

Earnings improved also improved on higher volumes and pricing, partially offset by “a less favourable geographic mix and higher costs.”

Results in the quarter were also negatively impacted by lower volumes in the Americas due to weather-related events, Cabot said.

Overall, global volumes improved 4% year-on-year. This reflected growths of 4% in Asia-Pacific and 9% in Europe, while volumes in the Americas fell by 4% compared to last year.