Celanese Corp. (CE) Tops Q1 EPS by 21c, Revenues Miss; Confirms FY19 EPS Guidance Above Consensus
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Celanese Corporation Reports First Quarter 2019 Earnings; Reaffirms 2019 Full Year and Long-Term Outlook
April 22, 2019 4:45 PM EDTDALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today reported first quarter GAAP diluted earnings per share of $2.64 and adjusted earnings per share of $2.62 on net sales of $1.7billion. 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 cash flow of $307 million and free cash flow of $224million, both first quarter records. The Company reaffirmed its... More
