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Celanese Gives Outlook, Guidance -- Commodity Comment

Celanese Corporation on Thursday reported second-quarter GAAP diluted earnings per share of $4.81, the second-highest in the company's history, and highest-ever adjusted earnings per share of $5.02. The company also provided a business outlook and earnings guidance.

Outlook:

 

"Our record performance this quarter reflected the global positions and unique optionality within our businesses to meet elevated customer demand despite significant sourcing and supply chain constraints that persist," said Lori Ryerkerk, chairman and chief executive. "With very strong earnings and cash generation across 2021, we are investing in future growth via organic opportunities within our businesses, disciplined M&A like the Santoprene acquisition, and share repurchases.

"Our teams' proactive response to the ongoing global supply chain constraints and inflationary backdrop have positioned us well as we enter the second half of 2021.

"We anticipate that continued moderation in Acetyl Chain industry pricing as the year progresses will be partially offset by strong fundamental demand across our businesses and modest continued sequential earnings momentum in Engineered Materials."

 

Guidance:

 

Celanese sees third-quarter 2021 adjusted earnings of $4.50 to $4.75 per share and full-year 2021 adjusted earnings of $16.50 to $17.00 per share.

 

Write to Matt Walker at [email protected]




      

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