Celanese Corp. (CE) Tops Q1 EPS by 4c, Suspends FY20 EPS Guidance

Celanese Corp. (NYSE: CE) reported Q1 EPS of $2.29, $0.04 better than the analyst estimate of $2.25. Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.55 billion.

Outlook:

"As a result of our work over many years to improve our businesses and strengthen our balance sheet, we are well-positioned to meet the current macro-economic challenges," continued Ryerkerk. "We anticipate that we will generate $300 to $400 million of incremental cash due specifically to the actions we are currently taking on productivity, working capital management, and capital expenditures prioritization which allow us to offset meaningful demand and earnings challenges and deliver exceptionally resilient cash flow in 2020. We remain committed to keeping our employees safe, meeting our customers' needs, and delivering sustained value for our shareholders in any environment."

Due to uncertainties regarding the duration and impact of the coronavirus (COVID-19) pandemic, Celanese is suspending its previously announced annual adjusted earnings per share guidance for 2020.

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

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