Celanese Corp. (CE) Misses Q2 EPS by 4c, Expects To Achieve $500M In Buybacks In 2017, Raises EPS Outlook

Celanese Corp. (NYSE: CE) reported Q2 EPS of $1.72, $0.04 worse than the analyst estimate of $1.76. Revenue for the quarter came in at $1.510 billion versus the consensus estimate of $1.44 billion.

(emphasis Street Insider): "The focus on value delivery at Celanese and growth driven business models enabled the strong performance in the second quarter. Advanced Engineered Materials is expected to generate outsized earnings growth propelled by a vibrant project pipeline and early success from integrating SO.F.TER. and Nilit. The Acetyl Chain is poised to drive earnings growth in the second half of 2017 by leveraging raw material volatility and higher volumes as Clear Lake returns to pre-turnaround capacity. Productivity savings of approximately $100 million are on target for the year, supported by initiatives across the company. Building on our success in the second quarter, we are increasing our expectations for growth in adjusted earnings per share to 9-11 percent for 2017," said Rohr. "

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