Celanese Corp Del Stock Price, News & Analysis

Celanese (NYSE: CE) has lifted the force majeure on acetic acid and vinyl acetate monomer (VAM) in the Western Hemisphere. The company confirmed that supply chain conditions have stabilized. Mark Murray, senior VP of the Acetyl Chain, stated that Celanese met the product needs of virtually all contracted customers during the challenging period by leveraging their integrated and flexible supply chain model.

Celanese is committed to working closely with critical raw material suppliers to mitigate future risks. The company is a global leader in chemistry, producing specialty material solutions across major industries. With a focus on sustainability and growing its portfolio of sustainable products, Celanese employs approximately 12,400 people worldwide and reported 2023 net sales of $10.9 billion.

Celanese (NYSE: CE) reported second quarter 2024 U.S. GAAP diluted earnings per share of $1.42 and adjusted earnings per share of $2.38. The company generated net sales of $2.7 billion, a 2% increase from the prior quarter. Despite significant external challenges, including supplier outages and poor demand conditions, Celanese achieved operating profit of $250 million, adjusted EBIT of $451 million, and operating EBITDA of $632 million. The Engineered Materials segment delivered record performance, while the Acetyl Chain faced headwinds due to force majeure declarations. The company's focus on execution and controllable actions led to improved results, with a double-digit sequential expansion of adjusted EBIT. Celanese anticipates third quarter adjusted earnings per share of $2.75 to $3.00 and full year adjusted earnings per share of $10.25 to $10.75.

Celanese (NYSE: CE), a global chemical and specialty materials company, has declared a quarterly cash dividend of $0.70 per share on its common stock. The dividend is payable on August 12, 2024, to stockholders of record as of July 30, 2024. Celanese, a Fortune 500 company, employs approximately 12,400 people worldwide and reported net sales of $10.9 billion in 2023. The company is committed to sustainability and is growing its portfolio of sustainable products to meet increasing customer and societal demand.

Celanese (NYSE: CE), a global leader in chemical and specialty materials, announces its second quarter 2024 earnings call on August 2, 2024, at 11:00 a.m. ET. The earnings release will be distributed after market close on August 1, 2024. Stakeholders can access the webcast via the Celanese investor website or dial-in by phone. A replay will be available from August 2, 2024, 1:00 p.m. ET to August 16, 2024. The company, which reported $10.9 billion in net sales for 2023, is known for its sustainable product portfolio and commitment to inclusivity and community impact.

Celanese (NYSE: CE) has declared force majeure and sales control for acetic acid and vinyl acetate monomer (VAM) in the Western Hemisphere. This decision follows disruptions in raw material supplies important to production, particularly affecting its U.S. gulf coast network.

Production is anticipated to drop by 15-20% in Q2 due to these challenges. The company is leveraging its integrated supply chain to minimize customer impact but expects higher costs and potential volume losses.

Details on the resolution and financial impact will be provided in the Q2 earnings report.

Celanese has been awarded the American Chemistry Council's 2024 Sustainability Leadership Award in the “Circularity” category for its carbon capture and utilization project in Texas. The project is expected to capture 180,000 metric tons of CO2 emissions annually and produce 130,000 metric tons of low-carbon methanol. This initiative highlights Celanese's commitment to sustainability and innovation, enabling the production of ECO-CC products across various industries.

Celanese (NYSE: CE) reported first quarter diluted earnings per share of $1.10 and adjusted earnings per share of $2.08 with net sales of $2.6 billion, reflecting a 2% increase. Despite challenges in the demand environment, Celanese managed to largely offset higher expenses and reported operating profit of $210 million. The company demonstrated the ability to execute in a stabilizing market and is focused on enhancing earnings power for the future.