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CABOT Cabot Corp Reports Third Quarter Fiscal 2021 Results August 9 , 2021 Strong Diluted EPS of $ 1.48 and Adjusted EPS of $ 1.35 BOSTON -- ( BUSINESS WIRE ) -- Aug . 9 , 2021-- Cabot Corporation ( NYSE : CBT ) today announced results for its third quarter of fiscal year 2021 . Key Highlights • GAAP EPS of $ 1.48 , compared to a loss of $ 0.12 in the prior fiscal year third quarter . Adjusted EPS of $ 1.35 , compared to a loss of $ 0.07 in the prior fiscal year third quarter • Exceptional operating results for the third consecutive quarter in the fiscal year • Robust demand across our diverse set of applications and geographies • Continued momentum in our energy materials business with new adoptions by leading lithium - ion battery customers • Liquidity remained strong at approximately $ 1.3 billion ; Debt to EBITDA ratio of 1.9 times as of June 30 , 2021 ( In millions , except per share amounts ) Three Months Ended Nine Months Ended Net sales Net income ( loss ) attributable to Cabot Corporation Net earnings ( loss ) per share attributable to Cabot Corporation Less : Certain items after tax per share Adjusted EPS 6/30/21 6/30/20 6/30/21 6/30/20 $ 2,505 $ 1,955 221 $ 34 69 69 $ 917 $ 518 $ 86 $ ( 6 ) $ SA SA SA $ $ $ 1.48 $ 0.13 $ 1.35 $ ( 0.12 ) $ 3.84 $ 0.59 ( 0.05 ) $ ( 0.07 ) $ ( 0.81 ) ( 0.07 ) $ 3.91 $ 1.40 " I am very pleased with the exceptional operating results this quarter , as we delivered another quarter of strong volumes and earnings growth , ” said Cabot President and Chief Executive Officer , Sean Keohane . " Our extensive global network of plants and strong execution enabled us to support our customers ' needs , while also managing the external factors related to both the COVID - 19 pandemic and global supply chain challenges . We have been successfully implementing price increases to maintain robust margins as raw material costs have continued to increase . In addition , we realized higher sales from our targeted growth initiatives , including new adoptions at leading battery customers . " Keohane continued , " Cash flow from operations was $ 71 million for the third quarter and $ 157 million year - to - date , which includes an increase in growth - related working capital and the impact of higher raw material costs on inventory and accounts receivable balances . Our balance sheet remains strong with approximately $ 1.3 billion of liquidity and a total debt to EBITDA ratio of 1.9 times as of June 30 , 2021. " Financial Detail For the third quarter of fiscal 2021 , net income attributable to Cabot Corporation was $ 86 million ( $ 1.48 per diluted common share ) . Net income reflects an after - tax per share benefit from certain items of $ 0.13 . Adjusted EPS for the third quarter of fiscal 2021 was $ 1.35 per share . Segment Results Reinforcement Materials - Third quarter fiscal 2021 EBIT in Reinforcement Materials increased by $ 90 million compared to the third quarter of fiscal 2020. The increase in EBIT was driven by significantly higher volumes across all regions , and strong pricing in Asia . Higher volumes were driven by demand increases across all regions compared to the same quarter last year , which was significantly impacted by COVID - 19 shutdowns . Global and regional volume changes for Reinforcement Materials for the third quarter of fiscal 2021 as compared to the same quarter of the prior year are set forth in the table below : Global Reinforcement Materials Volumes Asia Europe , Middle East , Africa Americas Third Quarter Year - over - Year Change 71 % 30 % 100 % 146 % Performance Chemicals – Third quarter fiscal 2021 EBIT in Performance Chemicals increased by $ 33 million compared to the third quarter of fiscal