Celanese Corp. (CE) Tops Q3 EPS by 1c, Beats on Revenues

Celanese Corp. (NYSE: CE) reported Q3 EPS of $1.93, $0.01 better than the analyst estimate of $1.92. Revenue for the quarter came in at $1.57 billion versus the consensus estimate of $1.49 billion.

Outlook

"Success in the third quarter and for most of 2017 has come from our ability to rapidly translate changes in the business environment into new value creation opportunities through our business models. In Advanced Engineered Materials, the disciplined approach to innovation through the pipeline model has raised profits and provided a road map for accelerating value uplift from the SO.F.TER. and Nilit acquisitions. The Acetyl Chain is expected to maintain its commercial traction in the quarter and additional initiatives are in place to take advantage of the gradual strengthening of the market. There is business and productivity momentum that should offset fourth quarter weakness. This combination gives confidence we can grow 2017 adjusted earnings per share toward the higher end of the 9-11 percent range, year over year," said Mark Rohr, chairman and chief executive officer.

For earnings history and earnings-related data on Celanese Corp. (CE) click here.

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