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Celanese net income doubles on price and volume gains
6:15 PM MDT | July 17, 2014 | Clay Boswell
Celanese (Dallas, TX) reports net earnings for the second quarter of $258 million, up 94% year-over-year from $133 million, on stronger pricing and volumes. Sales totaled $1.8 billion, up 7% YOY from $1.653 billion. Adjusted earnings of $1.47/share was31% YOY and handily exceeded the analysts’ consensus estimate of $1.24/share. “We expanded segment income margin to 18.6%, a 90 basis point improvement sequentially and a 260 basis point improvement year-over-year," says Mark Rohr, Celanese chairman and CEO. The advanced engineered materials...
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