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Celanese: 4Q Earnings Snapshot

January 28, 2019

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.

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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

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