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) announced the integration of recycled carbon dioxide (CO2) into its methanol production at the Clear Lake, Texas facility, a move aimed at enhancing sustainability. This process, part of an expansion of the Fairway joint venture with Mitsui & Co., Ltd., is projected to significantly reduce CO2 emissions, eliminating the equivalent of 39,000 cars annually. The initiative aligns with Celanese's commitment to sustainability and operational efficiency, contributing to broader environmental goals.
Celanese Corporation (NYSE: CE) has raised its full year 2021 adjusted earnings outlook to $11.00 to $11.50 per share, reflecting a 15% increase from its previous guidance of $9.50 to $10.00. Despite the impact of Winter Storm Uri on Texas operations, facilities are operating at pre-storm levels. The company anticipates strong first-quarter adjusted earnings of around $3.00 per share, driven by increased demand for Acetyl Chain and Engineered Materials products. Major turnarounds have been accelerated to meet market needs.
Celanese Corporation (NYSE: CE) has declared force majeure due to severe winter weather impacting its operations and those of its suppliers in the Texas Gulf Coast. This declaration affects the production of multiple products, including Acetic Acid and Vinyl Acetate Monomer. The extreme conditions have hindered access to critical utilities necessary for production, forcing Celanese to halt operations at affected sites. The company is communicating with customers regarding allocation volumes and will notify them when production resumes.
Celanese Corporation (NYSE: CE) announced an extension of its long-term carbon monoxide supply contract with Linde Gas Singapore Pte. Ltd. for its Singapore acetyls chemical facility. This contract ensures a reliable supply of carbon monoxide, crucial for Celanese's 600 kiloton acetic acid production plant, enhancing operational flexibility. Celanese has partnered with Linde since 2004 and aims to support its global acetyl chain business through this agreement. Financial terms of the contract were not disclosed.
Celanese Corporation (NYSE: CE) reported strong financial results for 2020, with GAAP diluted EPS of $16.85 and adjusted EPS of $7.64. Net sales totaled $5.7 billion, marking declines of 6% in pricing and 5% in volume from 2019. The company generated $1.3 billion in operating cash flow and $950 million in free cash flow, returning $943 million to shareholders through buybacks and dividends. The sale of Polyplastics provided $1.6 billion, enabling significant share repurchases. Looking forward, Celanese expects adjusted EPS of $9.50 to $10.00 for 2021, driven by demand recovery and operational improvements.
Celanese Corporation (NYSE:CE) has announced a 10% increase in its quarterly cash dividend, raising it from $0.62 to $0.68 per share. This dividend adjustment reflects anticipated earnings growth and strong cash generation for 2021. The new annual dividend rises from $2.48 to $2.72 per share, with the payment scheduled for February 23, 2021 to stockholders of record by February 9, 2021. CEO Lori Ryerkerk emphasized the company's commitment to growing dividends in line with future earnings, enhancing total shareholder value.
Celanese Corporation (NYSE: CE) announced a 15-year contract extension with Calpine Energy Solutions to add solar power to its Clear Lake, Texas chemical manufacturing facility's energy supply. The agreement will provide 45 megawatts of solar power, accounting for about 33% of the plant's annual electricity needs and 65% of its daytime summer usage. This initiative is part of Celanese's commitment to sustainability, aiming to significantly reduce greenhouse gas emissions while managing electricity costs during peak periods. Financial terms were not disclosed.
Celanese Corporation (NYSE: CE) will host a virtual Investor Day on March 25, 2021, from 9:00 a.m. to 12:00 p.m. Eastern time. CEO Lori Ryerkerk and the executive team will share insights on business strategies and growth outlook through 2023. Presentation materials will be available at approximately 6:00 a.m. on the same day, with a replay accessible for six months post-event. Celanese, a global leader in specialty materials, reported $6.3 billion in net sales for 2019 and employs around 7,700 people globally.
Celanese Corporation (NYSE: CE) announced price increases across its engineered materials portfolio due to rising demand and increased costs for transportation, energy, and raw materials. Effective February 1, 2021, prices will rise for various products, including GUR ($0.25/kg), PA 66 ($0.30/kg), and others. Celanese remains committed to expanding its specialty product offerings and investing in technology to better serve its global customers. For further information, customers can reach out to their Celanese account managers.
Celanese Corporation (NYSE: CE) has announced plans to construct a world-scale Liquid Crystal Polymer (LCP) polymerization plant in China. This facility aims to support the growing demand for its Vectra® and Zenite® LCP product lines, expected to produce 20 kilotons of LCP annually by 2024. The decision is driven by macrotrends such as 5G and automotive electrification, with China accounting for over 50% of global LCP demand. Celanese will be the only LCP producer with assets in both Asia and the Western Hemisphere, enhancing its ability to serve a diverse customer base.
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