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Celanese: 2Q Earnings Snapshot

July 22, 2019

IRVING, Texas (AP) _ Celanese Corporation (CE) on Monday reported second-quarter earnings of $209 million.

The Irving, Texas-based company said it had profit of $1.66 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.38 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.

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

Celanese expects full-year earnings to be $10.50 per share.

Celanese shares have risen 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $105.68, a decline of roughly 7% 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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