Cabot withdraws financial guidance for FY 2020

Cabot Corporation announced today that it was withdrawing its previous financial guidance for fiscal year 2020, which did not include any impact from coronavirus. The company plans to update its view on the outlook when it has more visibility into demand. Cabot President and CEO Sean Keohane said in a statement, “[W]e continue to supply our customers around the world and we have contingency plans in place to respond to the needs of our customers. The financial results for our second fiscal quarter are expected to be solid. While there was an adverse impact during the quarter to our sales volumes in China related to the coronavirus, there was strong demand in the rest of the world in January, February and early March.” In terms of operations, Mr. Keohane said, “We are restricting access to our facilities to critical personnel only and have implemented temperature screenings, enhanced personal protective equipment and on-site hygiene practices, and policies to promote social distancing.”