Cabot Corp Q1 Profit Decreases, but beats estimates

(RTTNews) - Cabot Corp (CBT) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $50 million, or $0.88 per share. This compares with $54 million, or $0.93 per share, in last year's first quarter.

Excluding items, Cabot Corp reported adjusted earnings of $1.56 per share for the period.

Analysts on average had expected the company to earn $1.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.7% to $958 million from $965 million last year.

Cabot Corp earnings at a glance (GAAP) :

-Earnings (Q1): $50 Mln. vs. $54 Mln. last year. -EPS (Q1): $0.88 vs. $0.93 last year. -Analyst Estimates: $1.49 -Revenue (Q1): $958 Mln vs. $965 Mln last year.

-Guidance: Full year EPS guidance: $6.30 - $6.80