) declared that it will raise the prices of all GUR and GHR
UHMW-PE grades sold in China by 15% effective May 1, 2014, or as
Recently, Celanese announced that it will raise the price of
Ateva ethylene vinyl acetate (EVA) by 6 cents per pound due to
the worldwide unavailability of Vinyl Acetate Monomer. The price
hike is effective April 1, 2014, or per contracts.
On Mar 7, Celanese also increased prices of vinyl acetate-based
emulsions sold in the Americas. The company will increase PVAc
homopolymer, vinyl acetate ethylene (VAE) and vinyl copolymer
emulsions prices by up to 3 cents per wet pound. The revision
will be effective April 1, 2014, or as contracts permit.
Celanese posted its fourth-quarter 2013 results on Jan 23. The
company's earnings (excluding one-time items) of $1.04 per share
beat the Zacks Consensus Estimate of $1.01.
Earnings (as reported) from continuing operations came in at
$4.16 per share in the quarter as against a loss of $1.05
recorded a year ago.
Sales in the quarter were $1,616 million, up 7.7% year over year,
surpassing the Zacks Consensus Estimate of $1,560 million.
For 2014, Celanese expects earnings growth on the back of
company-specific initiatives to be consistent with its long-term
growth plans. The company-specific initiatives including
innovation of new products and enhancement of efficiencies
through productivity are expected to drive earnings growth in
2014. Celanese expects to increase adjusted earnings before
interest and taxes (EBIT) by roughly $100 million on the back of
its strategic actions.
Celanese currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering
PPG Industries Inc.
Cytec Industries Inc.
The Dow Chemical Company
), each carrying a Zacks Rank #2 (Buy).
CELANESE CP-A (CE): Free Stock Analysis
CYTEC INDS INC (CYT): Free Stock Analysis
DOW CHEMICAL (DOW): Free Stock Analysis
PPG INDS INC (PPG): Free Stock Analysis
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