Welcome to our dedicated page for Celanese Corporation news (Ticker: CE), a resource for investors and traders seeking the latest updates and insights on Celanese Corporation stock.
Celanese Corporation (symbol: CE) is a global leader in the production and innovation of chemical and specialty materials. Aimed at creating value for its customers, Celanese operates through various segments, including the Acetyl Chain and Materials Solutions. The company is renowned for being one of the largest producers of acetic acid and downstream derivatives, which play critical roles in industries such as chemicals, coatings, and adhesives.
Celanese also excels in the production of specialty polymers, widely utilized in sectors like automotive, electronics, medical, construction, and consumer goods. Additionally, the company produces cellulose derivatives used prominently in cigarette filters, further expanding its diverse product portfolio.
With a global production network and a commitment to innovation, Celanese partners with its clients to bring inspired ideas to life. Recent achievements include expansions in their acetyl chain capabilities and strategic partnerships to enhance their materials solutions offerings.
Financially, Celanese remains robust, continually investing in research and development to foster innovation and maintain a competitive edge. The company's operations are supported by a dedicated team of engineers, scientists, product developers, and problem solvers who strive to meet customer needs while contributing positively to the world.
Latest News:
- Celanese Corporation reports strong quarterly earnings.
- Expansion in the acetyl chain production facilities announced.
- New partnerships established to advance specialty polymer solutions.
Celanese Corporation (NYSE: CE) reported strong Q3 2021 results, with GAAP diluted EPS of $4.67 and adjusted EPS of $4.82. The company achieved record net sales of $2.3 billion, driven by a 3% increase in pricing and 1% in volume. Net earnings were $506 million, while adjusted EBIT reached $648 million. Despite facing over $100 million in sequential cost inflation and sourcing issues, Celanese is optimistic about future growth, projecting Q4 adjusted earnings of approximately $5.00 per share and at least $15.00 per share for 2022. Significant cash generation allowed for $376 million returned to shareholders.
Celanese Corporation (NYSE: CE) announced a quarterly cash dividend of $0.68 per share on common stock, scheduled for payment on November 15, 2021. Stockholders of record as of November 1, 2021 will be eligible for this dividend. Celanese, a leader in chemical and specialty materials, reported $5.7 billion in net sales for 2020 and employs approximately 7,700 individuals worldwide.
Celanese Corporation (NYSE:CE) announced a global surcharge on its POM products, including Amcel®, Celcon®, and Hostaform®, due to surging global energy prices. The surcharge will take effect from October 25, 2021, with rates set at €0.50/kg in Europe, $0.35/kg in Asia, and $0.30/kg in the Americas. Vice President Juergen Pongratz emphasized the need to share the burden of rising costs with customers, stating that the current energy market instability could persist through winter while the company will monitor conditions regularly.
Celanese Corporation (NYSE:CE) announced a price increase of $0.40/kg or €0.34/kg for all acetate tow product grades effective from October 18, 2021. The increase responds to challenges such as heightened regulatory restrictions, logistics complexities, and rising production costs. According to Harald Bruggeman, Vice President Commercial, this adjustment is crucial to maintaining supply chain security and supporting ongoing investments in the acetate tow business.
Celanese Corporation (NYSE: CE) will host a conference call on October 22, 2021, at 11:00 a.m. Eastern time, to discuss its third quarter 2021 results. The earnings press release will be distributed on October 21 after the market closes. Investors can access the conference call via phone or webcast through the company's investor relations website. A replay will be available starting October 22 until November 5. Celanese is a global leader in chemical and specialty materials with $5.7 billion in net sales for 2020.
Celanese Corporation has declared a force majeure for its Nanjing, China facility due to curtailed production of key Acetyl Chain products like Acetic Anhydride and Vinyl Acetate Monomer. This shutdown is in compliance with government energy consumption targets, impacting downstream products as well. Conversely, force majeure has been lifted for several products in the Western Hemisphere following extreme weather conditions. The company expects no material impact on its third quarter performance from these developments.
Celanese Corporation (NYSE: CE) has launched Hostaform® RF, a low-permeation acetal copolymer designed for use in small off-road engine and marine fuel tanks, as well as hydraulic reservoirs and industrial bulk containers. This innovative single-layer solution streamlines production and enhances efficiency, addressing U.S. EPA regulations for fuel permeation. Celanese, a leader in acetal copolymer supply for automotive fuel systems, will showcase Hostaform® RF at the Rotoplas 2021 conference in Chicago from September 20-23, with presentations scheduled on September 22 and 23.
Celanese Corporation (NYSE: CE) has successfully completed a registered offering of €500 million in 0.625% Senior Notes due 2028. This issuance is guaranteed by Celanese and its domestic subsidiaries. The proceeds will fund a tender offer to purchase up to €300 million of its 1.125% Senior Notes due 2023 and support general corporate purposes. This move aims to manage debt maturities and lower interest costs, reflecting the company's strengthened credit rating. The tender offer is being conducted under the terms specified in the Offer to Purchase dated August 25, 2021.
Celanese Corporation (NYSE: CE) announced early results of its cash tender offer to purchase up to €300 million of its 1.125% Senior Notes due 2023. As of September 8, 2021, holders validly tendered €412.9 million, with €300 million accepted due to proration. The total consideration for the accepted notes is €1,027.35 per €1,000 principal. The Tender Offer will expire on September 22, 2021, unless extended. The company anticipates completing the offer upon satisfaction of financing conditions linked to a new €500 million offering of 0.625% Senior Notes due 2028.
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