Celanese Corp. (CE) Misses Q4 EPS by 2c, FY EPS Guidance Comes in Light

Celanese Corp. (NYSE: CE) reported Q4 EPS of $2.38, $0.02 worse than the analyst estimate of $2.40. Revenue for the quarter came in at $1.69 billion versus the consensus estimate of $1.72 billion.

GUIDANCE:

Celanese Corp. sees FY2019 EPS of $10.50, versus the consensus of $11.06.

• "Underlying fundamentals and forward looking demand forecasts for our products and solutions-based businesses remain strong. The strength of our business models, additional contribution from organic investment projects underway, and planned acquisition contributions give us confidence in reaffirming our plan to earn $12 per share in 2020. Having said that, we believe the economic weakness surfacing last quarter primarily in Europe and Asia will continue through the first quarter and into the second before global business starts to recover. Assuming this slower start and expecting some fourth quarter 2019 moderation, which we commonly see, we would anticipate 2019 adjusted earnings of approximately $10.50 per share. We will be in a better position to refine this outlook during our first quarter earnings call in April, based on updated views of customer activity and economic trends," said Mark Rohr, chairman and chief executive officer.

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

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