BOSTON (AP) _ Cabot Corp. (CBT) on Monday reported fiscal second-quarter net income of $75 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Boston-based company said it had net income of $1.30. Earnings, adjusted for non-recurring costs, were $1.38 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The chemical company posted revenue of $842 million in the period.
Cabot expects full-year earnings in the range of $4.70 to $4.95 per share.
Cabot shares have increased 25% since the beginning of the year. In the final minutes of trading on Monday, shares hit $56.09, a climb of 76% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBT at https://www.zacks.com/ap/CBT
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