Cabot beats by $0.15, beats on revs
Reports Q1 (Dec) earnings of $0.86 per share, $0.15 better than the Capital IQ Consensus Estimate of $0.71; revenues rose 9.6% year/year to $899 mln vs the $873.5 mln consensus.
2014 Outlook
"We expect tire and automotive industry demand to improve in 2014 along with infrastructure-related spending, albeit at a modest pace. In our Specialty Fluids business, the longer-term pipeline of projects remains strong, however, in the coming months, we expect to see a lower level of activity as compared to recent quarters. In the Purification Solutions segment, we are focused on improving our operational performance to restore profitability and preparing for growth in the North American market. Overall, we remain focused on executing our strategy and we are confident in our ability to deliver earnings growth to our shareholders."