Celanese: Q2 Earnings Snapshot
IRVING, Texas (AP) _ Celanese Corporation (CE) on Thursday reported second-quarter earnings of $434 million. On a per-share basis, the Irving, Texas-based company said it had profit of $3.98. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $4.99 per share. The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.57 per share. The chemical company posted revenue of $2.49 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $2.48 billion. For the current quarter ending in October, Celanese expects its per-share earnings to range from $4 to $4.50. Celanese shares have decreased 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $119.78, a fall of 22% in the last 12 months. _____ This story was generated by Automated Insights (http:||automatedinsights.com|ap) using data from Zacks Investment Research.
Celanese: Q2 Earnings Snapshot
IRVING, Texas (AP) _ Celanese Corporation (CE) on Thursday reported second-quarter earnings of $434 million. On a per-share basis, the Irving, Texas-based company said it had profit of $3.98. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $4.99 per share. The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.57 per share. The chemical company posted revenue of $2.49 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $2.48 billion. For the current quarter ending in October, Celanese expects its per-share earnings to range from $4 to $4.50. Celanese shares have decreased 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $119.78, a fall of 22% in the last 12 months. _____ This story was generated by Automated Insights (http:||automatedinsights.com|ap) using data from Zacks Investment Research.