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Celanese +4.8% as Q1 profit tops estimates, 2014 guidance raised

  • Celanese (CE +4.8%) opens higher after reporting Q1 earnings rose 38% Y/Y and easily beat analyst expectations, driven by improved margins across all businesses and continued productivity.
  • Says strong execution on productivity initiatives drove segment income margins to 17.7% for the quarter, vs. 16.8% in the year-ago quarter and 15.1% in the prior quarter.
  • Raises its 2014 earnings outlook, seeing 12%-14% EPS growth to $5.04-$5.13 vs. $4.96 analyst consensus; in January, CE had said company-specific initiatives along with some improvement in base business should result in earnings growth consistent with 2013.
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