Celanese Corp. (CE) Tops Q1 EPS by 4c, Suspends FY20 EPS Guidance
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Celanese Corporation Reports First Quarter 2020 Earnings; Highlights Resilient Cash Generation and Strong Balance Sheet
April 27, 2020 4:15 PM EDTDALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today reported first quarter GAAP diluted earnings per share of $1.88 and adjusted earnings per share of $2.29 on net sales of $1.5 billion. Despite the impact of coronavirus (COVID-19) on already weak demand levels in China that extended beyond Chinese New Year, the Company delivered sequential growth in operating profit and adjusted EBIT due to the resiliency of the Engineered Materials and Acetyl Chain commercial models and continued stability in Acetate Tow. Celanese generated robust operating cash flow of $259 million... More
