Celanese: 4Q Earnings Snapshot
IRVING, Texas (AP) _ Celanese Corporation (CE) on Monday reported fourth-quarter profit of $99 million.
On a per-share basis, the Irving, Texas-based company said it had profit of 75 cents. Earnings, adjusted for one-time gains and costs, came to $2.38 per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share.
The chemical company posted revenue of $1.69 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.73 billion.
For the year, the company reported profit of $1.21 billion, or $8.91 per share. Revenue was reported as $7.16 billion.
Celanese expects full-year earnings to be $10.50 per share.
Celanese shares have increased 8.5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $97.61, a decline of 12 percent in the last 12 months.