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Celanese to Increase Price of Ateva EVA Polymers in Asia

Celanese CorporationCE will hike the list and off-list selling prices of Ateva EVA polymers by $150/MT in Asia. The price hike will be effective immediately or as contracts permit.

The company is taking appropriate pricing actions amid a volatile raw material pricing environment. Celanese's strategic measures, including operational cost savings through productivity actions and pricing initiatives, are likely to provide an impetus to earnings in 2018.

In the last six months, shares of the company have lost 8.4%, underperforming the industry 's 5.5% decline.

Celanese, in February, raised earnings guidance for 2018, citing a stronger start to the year across its Acetyl Chain and Advanced Engineered Materials businesses. The company now envisions its adjusted earnings per share in 2018 to grow in the 12-16% range from the prior-year quarter, up from its earlier view of 10-14% improvement.

Celanese is witnessing better-than-expected performance in each of its businesses. The company's Acetyl Chain unit continues to build momentum globally, while improved pricing and strong demand trends in its Advanced Engineered Materials business are contributing to its earnings strength. Celanese plans to provide more details during first-quarter 2018 earnings call.

Celanese Corporation Price and Consensus

Celanese Corporation Price and Consensus | Celanese Corporation Quote

Zacks Rank & Stocks to Consider

Celanese currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are LyondellBasell Industries N.V. LYB , Kronos Worldwide Inc. KRO and Methanex Corporation MEOH . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

LyondellBasell has an expected long-term earnings growth rate of 9%. The company's shares have moved up 16.2% in a year.

Kronos has an expected long-term earnings growth rate of 5%. Its shares have gained 42.1% over a year.

Methanex has an expected long-term earnings growth rate of 15%. Its shares have moved up 29.9% in a year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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