Celanese Lifts Long-term Targets and Outlines Industrial Ethanol Impact

Celanese raised its earnings targets for 2013, citing growth in new products and geographic expansion. Adjusted earnings will be at least $6/share in 2013 with sustained earnings growth of 10%-15%/year beyond that point, says David Weidman, Celanese chairman and CEO. The company said previously it expects to earn $5.35-$6.30/share in 2013. Celanese recently raised its full-year 2011 earnings estimate to at least $4.22/share, compared to earlier guidance of $3.97/share, citing improved economic conditions. Celanese also provided more information about its...

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