Cabot Corporation reported Q3 fiscal 2025 adjusted earnings per share of $1.90, down 1% year-over-year but in line with Q2 results.
Cash balance stood at $239 million with liquidity of approximately $1.4 billion; net debt-to-EBITDA ratio was 1.3x at quarter end.
Discretionary free cash flow was $114 million for the quarter.
Operating cash flow was strong at $249 million, funding $61 million in capital expenditures and enabling $64 million returned to shareholders via dividends and share repurchases.
Performance Chemicals segment EBIT increased 4% year-over-year, driven by higher gross profit per ton despite 8% lower volumes.
Reinforcement Materials segment EBIT declined 6% year-over-year to $128 million, primarily due to 8% lower volumes driven by tariffs and macroeconomic weakness.
Year-to-date operating tax rate was 28%, with an expected range of 27% to 29% for fiscal 2025.
Average billing per WSE increased by 1.7%, reflecting wage inflation partially offset by lower average hours worked.
BBSI reported gross billings of $2.23 billion in Q2 2025, a 10.1% increase year-over-year, driven primarily by PEO gross billings growth of 10.3%.
Investment income declined by $700,000 due to lower average interest rates and a balloon premium payment reducing restricted cash.
Net income per diluted share rose to $0.70 from $0.62 in the prior year quarter, reflecting strong revenue growth and operating leverage.
Staffing revenues declined 12% to $17 million, underperforming expectations due to client reluctance to fill staffing orders amid macroeconomic uncertainty.
Workers' compensation program continued to perform well with favorable prior year claim adjustments of $8.8 million, consistent with prior year.
Worksite employees (WSEs) grew by 8% year-over-year, supported by a record addition of 10,100 WSEs from new clients and strong client retention.
Dafinchi