Celanese Corp Del Stock Price, News & Analysis

Celanese Corporation (NYSE: CE) announced an extension of its long-term carbon monoxide supply contract with Linde Gas Singapore Pte. Ltd. for its Singapore acetyls chemical facility. This contract ensures a reliable supply of carbon monoxide, crucial for Celanese's 600 kiloton acetic acid production plant, enhancing operational flexibility. Celanese has partnered with Linde since 2004 and aims to support its global acetyl chain business through this agreement. Financial terms of the contract were not disclosed.

Celanese Corporation (NYSE: CE) reported strong financial results for 2020, with GAAP diluted EPS of $16.85 and adjusted EPS of $7.64. Net sales totaled $5.7 billion, marking declines of 6% in pricing and 5% in volume from 2019. The company generated $1.3 billion in operating cash flow and $950 million in free cash flow, returning $943 million to shareholders through buybacks and dividends. The sale of Polyplastics provided $1.6 billion, enabling significant share repurchases. Looking forward, Celanese expects adjusted EPS of $9.50 to $10.00 for 2021, driven by demand recovery and operational improvements.

Celanese Corporation (NYSE:CE) has announced a 10% increase in its quarterly cash dividend, raising it from $0.62 to $0.68 per share. This dividend adjustment reflects anticipated earnings growth and strong cash generation for 2021. The new annual dividend rises from $2.48 to $2.72 per share, with the payment scheduled for February 23, 2021 to stockholders of record by February 9, 2021. CEO Lori Ryerkerk emphasized the company's commitment to growing dividends in line with future earnings, enhancing total shareholder value.

Celanese Corporation (NYSE: CE) announced a 15-year contract extension with Calpine Energy Solutions to add solar power to its Clear Lake, Texas chemical manufacturing facility's energy supply. The agreement will provide 45 megawatts of solar power, accounting for about 33% of the plant's annual electricity needs and 65% of its daytime summer usage. This initiative is part of Celanese's commitment to sustainability, aiming to significantly reduce greenhouse gas emissions while managing electricity costs during peak periods. Financial terms were not disclosed.

Celanese Corporation (NYSE: CE) will host a virtual Investor Day on March 25, 2021, from 9:00 a.m. to 12:00 p.m. Eastern time. CEO Lori Ryerkerk and the executive team will share insights on business strategies and growth outlook through 2023. Presentation materials will be available at approximately 6:00 a.m. on the same day, with a replay accessible for six months post-event. Celanese, a global leader in specialty materials, reported $6.3 billion in net sales for 2019 and employs around 7,700 people globally.

Celanese Corporation (NYSE: CE) announced price increases across its engineered materials portfolio due to rising demand and increased costs for transportation, energy, and raw materials. Effective February 1, 2021, prices will rise for various products, including GUR ($0.25/kg), PA 66 ($0.30/kg), and others. Celanese remains committed to expanding its specialty product offerings and investing in technology to better serve its global customers. For further information, customers can reach out to their Celanese account managers.

Celanese Corporation (NYSE: CE) has announced plans to construct a world-scale Liquid Crystal Polymer (LCP) polymerization plant in China. This facility aims to support the growing demand for its Vectra® and Zenite® LCP product lines, expected to produce 20 kilotons of LCP annually by 2024. The decision is driven by macrotrends such as 5G and automotive electrification, with China accounting for over 50% of global LCP demand. Celanese will be the only LCP producer with assets in both Asia and the Western Hemisphere, enhancing its ability to serve a diverse customer base.

Celanese Corporation (NYSE: CE) will host a conference call on January 29, 2021, at 10:00 a.m. Eastern Time to discuss its fourth quarter 2020 results. The earnings press release will be distributed post-market on January 28. Interested parties can join via a webcast or phone with a registration link provided. A replay of the call will be available from January 29 through February 12. Celanese reported net sales of $6.3 billion in 2019 and employs approximately 7,700 people globally.

Celanese Corporation (NYSE: CE) and Mitsubishi Gas Chemical Company announced a memorandum of understanding (MOU) to restructure their joint venture, Korea Engineering Plastics Co. (KEP). This initiative aims to modernize KEP, focusing on manufacturing and supplying high-quality products to its shareholders. The restructuring, anticipated to complete by the end of 2021, will enhance KEP's production capacity and address the evolving global market for polyoxymethylene (POM), a widely used engineered material. The companies are committed to ensuring a reliable supply of products throughout the transition.