Discipline At Celanese Paying Increasing Dividends
Mon, Jul. 25, 4:47 PM
Sun, Jul. 24, 5:35 PM
Wed, Jul. 20, 9:05 AM
Mon, Jun. 13, 9:14 AM
- Celanese (NYSE:CE), announced that it will increase list and off-list selling prices for acetic acid by €30/MT in the European region. The price increase will be effective from July 1, 2016.
- Revenues from Acetyl Intermediates (less eliminations) accounted for 40% of total revenue in Q1.
- Source: Press Release
Thu, Apr. 21, 4:27 PM
Tue, Apr. 19, 8:58 AM
- Celanese (NYSE:CE) +4.5% premarket after easily beating Q1 earnings expectations on on-line revenues, and reporting free cash flow of $217M, the highest ever Q1 performance.
- While overall Q1 revenues fell 3.2% Y/Y to $1.4B, revenue in the material solutions segment rose 4.2% to $594M and revenue for the acetyl chain fell 7.5% to $840M.
- CE raises the lower end of its forecast for adjusted EPS to 8%-10% growth from a previous forecast of $6.32-$6.62, which represents a 5%-10% from 2015; in FY 2015, CE's adjusted EPS was $6.02.
- CE says it remains concerned about sluggish global economic growth and deflationary raw material trends; self-help initiatives such as a ~$500M share buyback to be completed in 2016 will drive EPS growth.
- Now read Chemicals industry ripe for more M&A action, Deutsche Bank says
Mon, Apr. 18, 5:40 PM
Mon, Apr. 18, 5:02 PM
Sun, Apr. 17, 5:35 PM
Wed, Mar. 23, 12:47 PM
- The chemicals industry is on the verge of an "M&A bonanza," driven by strong balance sheets, cheap financing and activist pressures, Deutsche Bank says following a week-long series of meetings with leading U.S. and European chemical companies.
- Deutsche Bank sees the U.S. Gulf coast region as the top global investment region looking ahead, and says North American ethane based ethylene production still maintains a 50%-60% cash cost advantage over European production even though the collapse in oil price has flattened the cost curve.
- Among U.S. majors, the firm maintains Buy ratings on Celanese (CE -1.3%), Dow Chemical (DOW +0.6%), DuPont (DD +0.8%), Eastman Chemical (EMN +0.1%) and PPG Industries (PPG -0.3%); Evonik (OTC:EVKIF), BASF (OTCQX:BASFY) and Linde (OTCPK:LNAGF) are viewed as top potential European buyers of U.S. assets.
Thu, Feb. 4, 4:45 PM
- Celanese (NYSE:CE) declares $0.30/share quarterly dividend, in line with previous.
- Forward yield 1.97%
- Payable Feb. 26; for shareholders of record Feb. 16; ex-div Feb. 11.
Thu, Jan. 21, 5:13 PM
- Celanese (NYSE:CE): Q4 EPS of $1.25 beats by $0.01.
- Revenue of $1.33B (-14.7% Y/Y) misses by $30M.
Wed, Jan. 20, 5:35 PM
Tue, Jan. 5, 11:58 AM
- DuPont (DD +0.7%) is downgraded to Neutral from Buy at Citigroup following its ~30% rally into year-end since bottoming out in September as new CEO Ed Breen took over and expectations were high, but the firm says ag is weak and DuPont has several company-specific challenges (also).
- Citi also downgrades Air Products & Chemicals (APD -2.2%) to Neutral from Buy, believing APD's initial restructuring and cost cuts and the materials technologies spinoff are all factored in.
- At the same time, Citi upgrades Celanese (CE +0.4%) and Eastman Chemical (EMN -0.1%) to Buy, citing Celanese CEO Mark Rohr's clear vision presented at the company's analyst day and EMN's ill-timed propane hedges which are now factored in the stock price.
Dec. 2, 2015, 6:30 PM
- Celanese (NYSE:CE) says William Brown -- chairman, president and CEO of Harris Corp. -- has been elected to its board of directors, effective Jan. 1.
- The move brings Celanese's board to 10 members; nine of them are independent.
- Brown recently guided Harris through its largest acquisition; "We look forward to his ability to help us identify intriguing new growth opportunities," says Celanese CEO Mark Rohr.
- Previously, Brown served as an executive for 14 years at United Technologies. Most recently, he led $6.5B unit UTC Fire & Security.
Nov. 13, 2015, 12:59 PM
- Celanese (CE +3.6%) is higher after issuing long-term guidance of $8.00-$8.50 EPS by 2018 and saying it is on track to generate $2.5B in free cash flow during 2016-18.
- CE says the complementary nature of its core businesses generates annual synergies of $125M-$150M, while expecting its focus on productivity initiatives to generate $50M-$100M in net productivity savings annually.
- CE says it will continue to increase its cash dividend, which has grown 50% compounded annually since 2010, and continue to repurchase shares under its recently announced $1B share repurchase program.
Celanese Corp. is a technology and specialty materials company that engineers and manufactures a wide variety of products essential to everyday living. It operates through the following segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl... More
Sector: Basic Materials
Industry: Chemicals - Major Diversified
Country: United States
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