Celanese Corp Del Stock Price, News & Analysis

Celanese Corporation (NYSE: CE) announced its subsidiary, Celanese (Nanjing) Chemical Co. Ltd., has extended a long-term terminal services contract with Nanjing Dragon Crown Liquid Chemical Terminal Co. Ltd. for its Nanjing facility. This renewal ensures reliable services for its acetyls chemical products, which are crucial for the company's supply chain efficiency. Although financial details were not disclosed, the partnership demonstrates a decade-long collaboration that strengthens their business relationship.

Celanese Corporation (NYSE: CE) reported third-quarter 2020 earnings with GAAP diluted EPS of $1.76 and adjusted EPS of $1.95, reflecting a robust net sales of $1.4 billion, a 20% volume recovery sequentially. Operating profit improved to $184 million, with adjusted EBIT at $290 million. The completion of the Polyplastics joint venture sale generated $1.6 billion, enhancing investment capabilities. Strong cash flow was evident with $431 million in operating cash flow and $351 million in free cash flow. The company forecasts full-year adjusted EPS between $7.00 and $7.10.

Celanese Corporation (NYSE: CE) announced the launch of a new production line for GUR® ultra-high molecular weight polyethylene (UHMW-PE) at its facility in Bishop, Texas. This expansion aims to meet the rising demand for GUR® materials, particularly for lithium-ion battery separators, driven by a projected compound annual growth rate of over 25% in electric vehicle demand through 2025. The new line is expected to increase GUR® capacity by 15kt per year starting in 2022. Celanese remains the only global producer of UHMW-PE across Asia, North America, and Europe.

Celanese Corporation (NYSE: CE) has announced a global price increase of up to 10% on its engineered materials product portfolio, effective November 1, 2020. This decision is driven by a notable demand surge for the company's specialty polymer products. As a prominent supplier with extensive global production capabilities, Celanese aims to enhance its offerings through continuous investments in technology and product expertise. The company reported net sales of $6.3 billion in 2019 and employs approximately 7,700 staff worldwide.

Celanese Corporation (NYSE: CE) has appointed Deborah J. Kissire to its Board of Directors, effective immediately. A retired partner from Ernst & Young LLP, Kissire brings over 35 years of financial expertise. Her experience includes leadership roles in strategic planning and governance. The Board anticipates leveraging her insights on cybersecurity, tax, and M&A to enhance long-term growth and expansion. Kissire will join the Audit Committee and the Environmental, Health, Safety, Quality and Public Policy Committee, strengthening the Board's capabilities.

Celanese Corporation (NYSE:CE) has announced a quarterly cash dividend of $0.62 per share on its common stock, payable on November 10, 2020. This dividend will be distributed to shareholders recorded as of October 27, 2020. With a focus on differentiated chemistry solutions and specialty materials, Celanese aims to provide value across various industries. The company reported $6.3 billion in net sales for 2019 and employs approximately 7,700 individuals worldwide.

Celanese Corporation (NYSE: CE) has completed the sale of its 45% stake in the Polyplastics joint venture to Daicel Corporation for $1.575 billion. This strategic move monetizes a passive investment, allowing Celanese to reinvest in higher-value opportunities, including increased share repurchases and organic growth initiatives. The company aims to boost its Engineered Materials business independently, focusing on market segments such as 5G and advanced mobility. This marks a significant shift in strategy as Celanese plans to enhance its manufacturing and R&D capabilities in Asia.

Celanese Corporation (NYSE:CE) has announced a price increase of up to 5 percent on all acetate tow product grades, effective January 1, 2021, or as per contracts. This decision aims to secure the sustainability of the acetate tow business amid declining prices. The Vice President of Acetate Tow emphasized the company's commitment to investing in manufacturing assets and innovation to become the strategic partner of choice for customers. Celanese continues to focus on creating value across its global operations.

Celanese Corporation (NYSE: CE) will host a conference call on October 26, 2020, at 1:00 p.m. ET to discuss its Q3 2020 results. The earnings press release will be available on October 25 in the afternoon. Investors can join the call by dialing in or via a pre-registration link provided. A replay will be accessible from October 26, 3:00 p.m. ET, until November 9, 2020. Celanese, headquartered in Dallas, reported $6.3 billion in 2019 net sales and employs approximately 7,700 worldwide.