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Earnings

Cabot Corp withdraws 2020 earnings forecast

(Reuters) - Specialty chemicals company Cabot Corp CBT.N said on Monday it was withdrawing its fiscal 2020 earnings forecast amid the coronavirus pandemic.

The company said it was also exploring ways to reduce capital expenditures and had put a hold on any near-term share buyback plans.

“We are taking swift action to better align our cost structure and working capital needs to the near-term demand patterns,” Chief Executive Officer Sean Keohane said in a statement.

Reporting by Shradha Singh in Bengaluru

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