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
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.
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.
Oct. 27, 2015, 10:19 AM
- Westlake Chemical (WLK -3.6%) is downgraded to Sell from Neutral with a $58 price target, down from $68, at UBS, which thinks upside September quarter results at Celanese (CE -0.5%), Dow Chemical (DOW +0.1%) and LyondellBasell (LYB -0.8%) may have temporarily driven recent strength in the sector.
- As the market becomes more balanced, UBS believes the potential for lower polyethylene prices is not yet fully priced in, and it sees downside risks to WLK's earnings and stock price.
Apr. 17, 2015, 12:45 PM
Apr. 17, 2015, 9:21 AM
Apr. 16, 2015, 5:37 PM
Oct. 20, 2014, 5:13 PM
- Celanese (NYSE:CE): Q3 EPS of $1.61 beats by $0.17.
- Revenue of $1.77B (+7.9% Y/Y) beats by $40M.
- Shares +3.2% AH.
Jun. 27, 2014, 8:16 AM
- DuPont (DD) -3.1% premarket after cutting its Q2 and FY 2014 earnings outlook, pointing to slower than expected sales growth in its agriculture and performance chemicals units.
- DD said in a conference call that it expects Q2 operating earnings in its agriculture business to fall in the low teens in percentage terms, with corn pricing in North America expected to be slightly lower than its previous estimate and returns of unused corn seeds in Brazil to be higher than anticipated.
- Dow Chemical (DOW) -0.7% premarket; chemical peers FMC, SYT, MON, LYB, CE and HUN also will be on watch today.
Apr. 22, 2014, 10:18 AM
- 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.
Oct. 18, 2013, 5:46 PM
Oct. 18, 2013, 4:40 PM
- Celanese Corp. (CE): Q3 EPS of $1.20 beats by $0.04.
- Revenue of $1.64B misses by $0.01B. Shares +2.26% AH. (PR)
Aug. 21, 2013, 12:35 PM| Aug. 21, 2013, 12:35 PM
Apr. 19, 2013, 10:33 AM
Shares of specialty chemical maker Celanese (CE +12%) are on a tear this morning after posting a solid Q1 EPS beat late yesterday. Operating profits rose 66% Y/Y to $184M, while adjusted earnings were up 44% to $1.14 as the company posted record profit out of its Advanced Engineered Materials unit. Consumer specialties also posted a solid quarter, driven by a dividend payment out of its China venture and continued strong demand in Acetate and lower energy costs related to the closing of its Spondon acetate facility.| Apr. 19, 2013, 10:33 AM
Apr. 19, 2013, 9:15 AM