Markets CE

Celanese Q2 Profit Down

(RTTNews) - Celanese Corp. (CE) on Tuesday reported a drop in profit for the second quarter.

The chemical and specialty materials company reported second-quarter net earnings of $125 million, or $1.13 per share, compared with $197 million, or $1.80 per share, in the prior-year period. Earnings from continuing operations were $1.15 per share, down from $1.89 a year ago.

Adjusted earnings were $2.45 per share, up from $1.43 per share last year.

Net sales increased to $2.75 billion from $2.53 billion a year earlier, reflecting a 4% increase in volume and a 14% increase in price.

For the third quarter, Celanese expects adjusted earnings of $1.35 to $1.75 per share. The company continues to expect full-year adjusted earnings of about $6.00 per share.

RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
More articles by this source

Tags

Stocks Mentioned

Latest Articles

Data is currently not available