Celanese Corp Beats Estimates With 73 Cent Adjusted EPS (CE)

Dallas, Texas-based Celanese Corporation CE announced on Tuesday morning that it beat consensus Wall Street estimates. Celanese Corporation reported that its 4th quarter net earnings climbed to $56 million, or 35 cents per share, up from $6 million, or 3 cents per share, a year earlier. Excluding special items, the company's earnings came in at 73 cents per share. Celanese Corporation reported revenue of $1.51 billion, up from $1.39 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 68 cents per share, on revenue of $1.46 billion. Chairman and chief executive officer David Weidman said, “With successful innovation efforts, a sustained focus on productivity and the breadth of our geographic profile, Celanese, with its unique portfolio of leading global businesses, is extremely well positioned for value creation both in the near-term and long-term.” Celanese Corporation (CE) closed the previous trading day at $41.49 per share. Analysts covering the company's stock give it a consensus price target of $45.62 per share. Celanese Corporation is a global technology leader in the production of specialty materials and chemical products that are used in most major industries and consumer applications. Read more from Benzinga's Company news.