CE – Celanese: Q2 Earnings Insights

Shares of Celanese (NYSE:CE) moved higher in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 286.15% over the past year to $5.02, which beat the estimate of $4.25.

Revenue of $2,198,000,000 higher by 84.24% year over year, which beat the estimate of $1,920,000,000.

Guidance

Q3 EPS expected to be between $4.50 and $4.75.

Revenue guidance hasn’t been issued by the company for now.

Price Action

Company’s 52-week high was at $171.00

52-week low: $92.11

Price action over last quarter: down 0.19%

Company Overview

Celanese is one of the world’s largest producers of acetic acid and its downstream derivative chemicals, which are used in various end markets, including coatings and adhesives. The company also produces specialty polymers used in the automotive, electronics, medical, and consumer end markets as well as cellulose derivatives used in cigarette filters.