Celanese Corp. (CE) Tops Q1 EPS Views; Updates on FY16 Outlook

Celanese Corp. (NYSE: CE) reported Q1 EPS of $1.83, $0.34 better than the analyst estimate of $1.49. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.39 billion.

The company said:

"We continue to demonstrate the strength of our business models and our ability to create value for our customers and shareholders. In Materials Solutions we are building momentum in our opportunity pipeline, leveraging our broad and growing polymer portfolio and our unique applications capabilities to deliver growth. In the Acetyl Chain, we continue to capture opportunities along our integrated value chain to deliver differentiated results.

"However, we are operating in an environment of sluggish global economic growth, deflationary raw material trends, and heightened geopolitical tensions. The demand picture in China has not yet resolved itself, and growth in Europe and North America remains modest. We will continue our focus on commercial discipline, operational excellence and productivity to manage through the current environment and strive to deliver growth in adjusted earnings per share of 8-10 percent."

For earnings history and earnings-related data on Celanese Corp. (CE) click here.

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