) announced that it will raise prices for vinyl acetate-based
emulsions sold in the Americas. Celanese will increase PVAc
homopolymer, vinyl acetate ethylene (VAE) and vinyl acrylic
emulsions prices by 4 cents per wet pound. The revision will be
effective Jun 16, 2014, or as contracts permit.
This price revision is in addition to the previous price hikes of
the same vinyl-based emulsions which were declared on Mar 7, 2014
and Jan 10, 2014 and were effective since Apr 1, 2014, and Feb 1,
This rise in price is applicable for all applications including,
but not limited to, adhesives, paints and coatings, building and
construction, nonwovens, glass fiber, carpet, paper and
On Apr 21, Celanese reported its first-quarter 2014 results. The
company's adjusted earnings (excluding one-time items) of $1.33 per
share were up 16.7% from $1.14 per share reported in the year-ago
quarter. The result beat the Zacks Consensus Estimate of $1.21 per
Profit from continued operations (as reported) came in at $1.25
per share in the first quarter, surging roughly 42% from 88 cents
per share posted in the prior-year quarter.
Sales in the quarter were $1,705 million, up 6.2% year over
year, surpassing the Zacks Consensus Estimate of $1,682
For 2014, Celanese expects earnings growth of 12% to 14% on the
back of company-specific initiatives including innovation and
productivity programs consistent with its long-term growth plan.
These initiatives are expected to drive earnings growth in
Celanese currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical space with a favorable Zacks
Compass Minerals International Inc.
The Dow Chemical Co.
Koninklijke DSM N.V.
). While Compass Minerals carries a Zacks Rank #1 (Strong Buy),
both Dow Chemical and Koninklijke DSM hold a Zacks Rank #2
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