Celanese: Q1 Earnings Snapshot
IRVING, Texas (AP) — IRVING, Texas (AP) — Celanese Corporation (CE) on Tuesday reported first-quarter earnings of $91 million.
The Irving, Texas-based company said it had net income of 83 cents per share. Earnings, adjusted for one-time gains and costs, were $2.01 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The chemical company posted revenue of $2.85 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $2.72 billion.
For the current quarter ending in June, Celanese expects its per-share earnings to be $2.50.
Celanese shares have climbed 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $104.54, a decline of 27% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CE">Zacks stock report on CE at https://www.zacks.com/ap/CE
