Celanese Corporation Reports First Quarter 2019 Earnings; Reaffirms 2019 Full Year and Long-Term Outlook
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Celanese Corp. (CE) Tops Q1 EPS by 21c, Revenues Miss; Confirms FY19 EPS Guidance Above Consensus
April 22, 2019 4:49 PM EDTCelanese Corp. (NYSE: CE) reported Q1 EPS of $2.62, $0.21 better than the analyst estimate of $2.41. Revenue for the quarter came in at $1.69 billion versus the consensus estimate of $1.77 billion.
First quarter GAAP diluted earnings per share of $2.64 and adjusted earnings per share of $2.62 on net sales of $1.7 billion.Despite a challenging business environment, the Company delivered sequential growth in operating profit and adjusted EBIT due to the resiliency of the Engineered Materials and Acetyl Chain commercial models and continued stability in Acetate Tow.In the quarter, Celanese generated operating... More