Celanese Corp. (CE) Raises FY21 Guidance

Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today increased its full year 2021 outlook for adjusted earnings of $11.00 to $11.50 per share. The midpoint of the new guidance range represents a 15 percent increase over the prior range of $9.50 to $10.00.

(*Consensus sees FY21 EPS of $10.13)

“While Winter Storm Uri had an unprecedented impact on Texas and our gulf coast operations, I am pleased to share that our Clear Lake, Bishop, and Bay City facilities are all operational with most units producing at pre-storm levels,” said Lori Ryerkerk, chairman and chief executive officer. “Amid tightened market conditions following Winter Storm Uri, we expect a strong finish to the first quarter with adjusted earnings around $3.00 per share. We expect momentum to continue across the middle of 2021 as we meet elevated demand for our Acetyl Chain and Engineered Materials products. By accelerating major turnarounds from 2021 into 2020, we are uniquely positioned to reliably supply markets which we expect will remain tight into the middle of the year following the winter storm.”

The Company is unable to reconcile adjusted earnings per share to US GAAP diluted earnings per share on a forward-looking basis without unreasonable efforts because a forecast of Certain Items, such as mark-to-market pension gains/losses, is not practical. For more information, see "Non-GAAP Financial Measures" below.

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