Celanese Corporation reported robust financial results for the first quarter of 2022, achieving earnings from continuing operations of $504 million and adjusted earnings of $5.54 per share, marking a 60% increase year-over-year. Revenue surged to $2,538 million, driven by strong performances in its Acetyl Chain and Engineered Materials segments, even as cash reserves fell 23.5% due to rising input costs and supply chain pressures. Looking ahead, the company anticipates second-quarter adjusted earnings around $4.50 per share while navigating ongoing challenges in the market.
“Celanese Corporation · logged earnings from continuing operations · $504 million · first-quarter 2022”
“Celanese Corporation · adjusted earnings were · $5.54 per share · up 60% from $3.46 in the year-ago quarter”
“Celanese Corporation · reported revenues of · $2,538 million · increased 41.2% year over year”
“Celanese Corporation · net sales in the Engineered Materials unit were · $910 million · up 41.1% year over year”
“Celanese Corporation · Acetyl Chain segment posted net sales of · $1,538 million · up 45.6% year over year”
“Celanese Corporation · ended the quarter with cash and cash equivalents of · $605 million · down 23.5% year over year”
“Celanese Corporation · generated an operating cash flow of · $316 million · in first-quarter 2022”
“Celanese Corporation · returned to shareholders through dividend payouts · $73 million · during the quarter”
“Celanese Corporation · expects second-quarter adjusted earnings of roughly · $4.50 per share · due to strength in downstream Acetyl Chain products”
“Celanese Corporation · shares have declined · 8.7% · in the past year”
“Celanese Corporation · currently carries a Zacks Rank · #3 (Hold)”
“Celanese · had quarterly earnings · $5.54 per share · $5.54”