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Outlook
Commenting on the outlook for the Company, Keohane said, "Given the strong year-to-date results and our expectations for the fourth fiscal quarter, we are raising our adjusted EPS guidance range for fiscal 2024 to $7.00 to $7.10 from our previously communicated range of $6.65 to $6.85. This updated guidance range reflects an increase of $0.30 at the midpoint driven by our expectations for improved results in the Performance Chemicals segment from higher demand and a more favorable product mix as compared to the first half of the year and continued strong results in the Reinforcement Materials segment.
Keohane continued, "With one quarter to go in fiscal 2024, we are on track to deliver greater than 30% year-over-year adjusted EPS growth. Our strong cash flow and disciplined and balanced approach to capital allocation has allowed us to invest in key growth projects and return capital to shareholders. I believe Cabot is executing well against our "Creating for Tomorrow" strategy and our long-term targets to deliver attractive shareholder returns. Our revised outlook for adjusted EPS in fiscal 2024 would place us at or above the high-end of our targeted range of 8% to 12% adjusted EPS compound annual growth rate from fiscal 2021. Also, we remain on track to deliver our target of more than $1 billion of cumulative discretionary free cash flow over the last three fiscal years."
Posted In: CBT
