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Cabot Corp

cabotcorp.com

What Do They Do?

Sells reinforcing carbons and rubber composites to tire and industrial-product makers, and specialty materials for manufacturers in automotive, construction, electronics, energy storage and printing.

How Do They Make Money?

Cabot sells products through purchase orders or sales contracts; the sale is generally completed when products ship or are delivered, and customers typically pay within zero to ninety days.

revenue
SegmentShareRevenue
Reinforcement Materials
Sold outright

63%
FY2022: 62%
Performance Chemicals
Sold outright

34%
FY2022: 32%

Who Are Their Customers?

Tire and industrial-product makers buy through Cabot employees, with distributors and sales representatives also involved. Performance Chemicals products are sold to manufacturers across automotive, construction, electronics, energy, printing and consumer markets, both by Cabot employees and through distributors and sales representatives.

Do Revenues Turn Into Profits?

Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 11 cents into free cash flow.

Operating income, FY2025
17% of revenue
▲ +1% vs FY2024 ($614M, 15%)
Net income, FY2025
9% of revenue
▼ −13% vs FY2024 ($380M, 10%)
Free cash flow, FY2025
11% of revenue
▼ −13% vs FY2024 ($451M, 11%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q3 FY2026, the three months to Jun 30, 2026
Revenue
▲ +6%
vs $923M in Q3 FY2025
Net income
▼ −94%
vs $101M in Q3 FY2025
Reinforcement Materials share of revenue vs 62.1% in Q3 FY2025
  • Sep 11, 2026 Cabot names an interim CFO as CEO transition approaches Steven Delahunt will become interim CFO on October 1, 2026, while Cabot searches for a permanent CFO; Erica McLaughlin is set to become CEO the same day.
  • Aug 3, 2026 Cabot narrows fiscal 2026 adjusted EPS guidance The range was tightened from $6.00 to $6.50 per share to $6.15 to $6.45 per share.
  • Jul 30, 2026 Sean Keohane to retire; Erica McLaughlin elected CEO Keohane will leave the CEO post September 30, 2026, and McLaughlin will take over October 1, 2026.

Growing. Revenue grew 9% in 4 years, from $3.4B in FY2021 to $3.7B in FY2025, about 2% a year.

Revenue over time
Reinforcement Materials Performance Chemicals Purification Solutions
$5B$2.5B$0

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