Published on 29 Jul 2022 on Zacks via Yahoo Finance
Celanese (CE) Earnings Surpass Estimates in Q2 on Higher Pricing
Celanese Corporation CE logged earnings from continuing operations of $4.03 per share in second-quarter 2022, down from $4.81 in the year-ago quarter.Barring one-time items, adjusted earnings were $4.99 per share, down from $5.02 in the year-ago quarter. It topped the Zacks Consensus Estimate of $4.57. Our estimate for the quarter was $4.51.Revenues of $2,486 million increased 13% year over year and beat the Zacks Consensus Estimate of $2,476.8 million. The figure compares to our estimate of $2,584.7 million.The company witnessed higher pricing on a sequential comparison basis in the reported quarter, which was partly offset by lower volumes and unfavorable currency swings. Pricing also increased year over year across all segments in the quarter.
Celanese Corporation Price, Consensus and EPS Surprise