Cabot Corporation — Nov 3, 2025 release

Our operating tax rate for fiscal 2025 was 27% and reflects a $36 million non-GAAP adjustment primarily related to an increase of the valuation allowance on U.S. deferred tax assets. Our operating tax rate for fiscal 2026 is expected to be in the range of 27% to 29%.     Outlook Commenting on the outlook for the Company, Keohane said, “Looking ahead to fiscal 2026, we do not yet see signs of improvement in the external environment, particularly as it relates to regional demand trends in Reinforcement Materials due to the impact of elevated Asian tire imports into western regions. As a result, we expect Adjusted EPS to be in the range of $6.00 to $7.00 for the year. Our fiscal 2026 outlook reflects the uncertain macroeconomic and trade environment and competitive headwinds in Reinforcement Materials. In Performance Chemicals, we expect to see profit improvement overall, driven by attractive areas such as Battery Materials and targeted infrastructure, alternative energy, and consumer applications. We anticipate strong operating cash flow and discretionary free cash flow to support growth investments.”     Keohane concluded, “While market conditions remain challenging, we continue to execute on our foundation of commercial and operational excellence and we remain focused on managing costs, strengthening operations, and positioning the company for long-term growth. Backed by a strong balance sheet and our demonstrated ability to generate solid ca