Cabot Corp.’s stock falls 10% after chemicals maker sees ‘soft’ global demand

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Shares of Cabot Corp. CBT dropped by as much as 10% in the extended session Thursday after the specialty chemicals maker said its sales have slowed, as China’s recovery hasn’t materialized in the way that the company expected and global demand remains “soft,” and withdrew its outlook for the year. Sales in Cabot’s performance chemicals business for April and May were 13% lower than the same months of 2022, with declines across all product lines except battery materials, the company said. “We are not seeing the anticipated pace of recovery in China after a challenging March quarter in the performance chemicals segment,”…

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