Celanese Corp Del Stock Price, News & Analysis

Celanese Corporation (NYSE: CE) is set to host its third quarter 2022 earnings call on November 4, 2022 at 10:00 a.m. Eastern time. The call will occur later than usual, as the company anticipates completing its acquisition of DuPont Mobility & Materials on November 1, 2022, pending regulatory approvals. This delay is expected to provide more insight into current demand conditions for a more relevant business outlook. The earnings press release will be available post-market on November 3, 2022.

Celanese Corporation (NYSE: CE) has received a grant from the Bill & Melinda Gates Foundation to develop a refillable contraceptive implant. This project aims to create a functional prototype within 18 months, focusing on enhancing access to contraceptive options for women in low- and middle-income countries. The development will leverage Celanese's VitalDose® drug delivery technology, which has a strong history in women's health. This initiative aligns with Celanese's mission to expand healthcare access globally.

Celanese Corporation (NYSE: CE) reported second quarter 2022 GAAP diluted EPS of $4.03 and adjusted EPS of $4.99, with net sales of $2.5 billion, reflecting a 2% decrease from the prior quarter but a 13% increase year-over-year. The company successfully offset supply interruptions and inflation, achieving an operating profit of $483 million. Record sales in Engineered Materials reached $948 million. The firm secured $10.5 billion in financing for the DuPont M&M acquisition. However, they anticipate softening demand and expect adjusted EPS of $4.00 to $4.50 for Q3.

Celanese Corporation (NYSE: CE) has declared a quarterly cash dividend of $0.68 per share on common stock, payable on August 8, 2022. This dividend is designated for shareholders of record as of July 25, 2022. With a strong presence in the chemical industry, Celanese reported net sales of $8.5 billion in 2021, showcasing its robust financial health and commitment to delivering value to shareholders.

Celanese Corporation (NYSE: CE) has priced an additional €1.5 billion in permanent financing to acquire a majority of DuPont’s Mobility & Materials business. This brings the total secured financing for the acquisition to $10.5 billion at an effective net borrowing rate of approximately 5.4%. The new euro notes feature maturities of 4 and 6.5 years, with interest rates of 4.78% and 5.34%. Celanese aims to optimize its debt profile, increase flexibility, and potentially reduce borrowing costs through future cross-currency swaps.

Celanese Corporation (NYSE: CE) has priced $7.5 billion in permanent financing to acquire a majority of DuPont's Mobility & Materials business. The offering includes notes with interest rates between 5.91% and 6.38%, expected to close around July 14, 2022. Celanese also entered a cross-currency swap to convert $2.5 billion of USD notes into euro-denominated borrowing. The effective net borrowing rate is projected at approximately 5.6%. This financing secures a significant portion of the acquisition, with potential flexibility for future funding sources.

Celanese Corporation (NYSE: CE) will host a conference call on July 29, 2022, at 10:00 a.m. ET to discuss its Q2 2022 earnings. The earnings press release will be distributed on July 28, 2022, after market close. Investors can access the call via webcast or dial in at 1-877-407-0989 (international: 1-201-389-0921). A replay will be available on demand from July 29 to August 12, 2022. Celanese had $8.5 billion in net sales in 2021, employing around 8,500 people globally.

Celanese Corporation (NYSE: CE) has announced an immediate increase in list and off-list selling prices for various acetyl intermediate products. Prices for Acetic Acid and Acetic Anhydride will rise to $100/MT, Vinyl Acetate Monomer to $200/MT, Ethyl Acetate/Butyl Acetate to $50/MT, VAE Emulsions to $100/MT, and Redispersable Powders to $150/MT. The adjustments are applicable as contracts allow and are incremental to previous increases. Celanese continues to leverage its global chemistry to deliver value across industries.

Celanese Corporation (NYSE: CE) has declared a force majeure for its Acetyl Chain and Acetate Tow products due to unforeseen interruptions in raw material supply, particularly affecting the Texas Gulf Coast. Affected products include

• Acetic acid
• Vinyl acetate monomer (VAM)
• Ethyl acetate
• Acetic anhydride
• Vinyl and acrylic emulsions
• Redispersible powders
• Acetate tow