Celanese: 2Q Earnings Snapshot
IRVING, Texas (AP) _ Celanese Corporation (CE) on Monday reported second-quarter earnings of $209 million.
The Irving, Texas-based company said it had profit of $1.66 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.38 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.
The chemical company posted revenue of $1.59 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.62 billion.
Celanese expects full-year earnings to be $10.50 per share.
Celanese shares have risen 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $105.68, a decline of roughly 7% in the last 12 months.