Celanese: Q2 Earnings Snapshot
IRVING, Texas (AP) — IRVING, Texas (AP) — Celanese Corporation (CE) on Monday reported second-quarter net income of $220 million.
On a per-share basis, the Irving, Texas-based company said it had net income of $2.01. Earnings, adjusted for one-time gains and costs, came to $2.17 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.46 per share.
The chemical company posted revenue of $2.8 billion in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $2.84 billion.
For the current quarter ending in September, Celanese expects its per-share earnings to range from $2 to $2.50.
The company expects full-year earnings in the range of $9 to $10 per share.
Celanese shares have increased 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $124.73, a rise of 13% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CE at https://www.zacks.com/ap/CE