Celanese Corp. (CE) Tops Q4 EPS by 38c, Offers Guidance
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Celanese Corporation Reports Full Year 2020 and Fourth Quarter Earnings; Outlines Strong 2021 Growth Outlook
January 28, 2021 4:25 PM ESTDALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today reported GAAP diluted earnings per share of $16.85 and adjusted earnings per share of $7.64. Net sales for the full year were $5.7 billion, as pricing and volume declined by 6 percent and 5 percent, respectively, from 2019. Amid the ongoing global COVID-19 pandemic, Celanese executed on controllable actions, including over $200 million in productivity initiatives, to mitigate challenges in 2020. The Company generated resilient operating cash flow of $1.3 billion and free cash flow of $950 million. During 2020, Celanese returned $943 million of cash to shareholders, consisting of $650... More
