• November 18, 2019

Celanese: 3Q Earnings Snapshot - Odessa American: Business

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Celanese: 3Q Earnings Snapshot

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Posted: Monday, October 21, 2019 3:39 pm | Updated: 4:01 pm, Mon Oct 21, 2019.

IRVING, Texas (AP) — Celanese Corporation (CE) on Monday reported third-quarter profit of $263 million.

On a per-share basis, the Irving, Texas-based company said it had net income of $2.13. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.53 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.50 per share.

The chemical company posted revenue of $1.59 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.62 billion.

Celanese expects full-year earnings in the range of $9.60 to $9.80 per share.

Celanese shares have climbed 35% since the beginning of the year. In the final minutes of trading on Monday, shares hit $121.27, a rise of 22% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CE at https://www.zacks.com/ap/CE

© 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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