Celanese Corporation - CE STOCK NEWS

Celanese Corporation (NYSE: CE) declared a quarterly cash dividend of $0.70 per share on common stock, set to be paid on March 7, 2023. Stockholders of record as of February 21, 2023 will receive this dividend. Celanese is a global leader in specialty materials and chemicals, leveraging advanced chemistry and technology to serve various industries. In 2021, the company reported net sales of $8.5 billion and employs approximately 13,000 personnel globally. For further details on Celanese's operations and product offerings, visit www.celanese.com.

Celanese Corporation (NYSE: CE) has launched a new range of sustainable Acetyl Chain materials known as ECO-B, which feature mass balance bio-content. This initiative aims to support customers in reducing CO2 emissions and achieving sustainability goals. ECO-B products, including Emulsion Polymers and EVA Polymers, provide a chemical identity identical to standard offerings while promoting renewable content. The new products aim to help industries like building and construction, adhesives, and packaging. Sustainable content in ECO-B products can range from 10% to 100%, depending on specific items.

Celanese Corporation (NYSE: CE) will host a conference call on February 24, 2023, to discuss its fourth quarter 2022 results. The call is delayed due to the ongoing integration of the Mobility & Materials acquisition. Investors can access the call via webcast or by phone. The earnings press release will be distributed on February 23, 2023, post-market close. A replay will be accessible from 12:00 p.m. Eastern time on February 24 until March 10, 2023.

Celanese Corporation (NYSE: CE) has lifted the remaining elements of the force majeure declared on May 11, 2022, that pertained to acetate tow products. This decision marks a significant milestone for the company as it resumes normal operations in this segment, which is crucial for various industries. Celanese emphasizes its commitment to delivering differentiated chemistry solutions and specialty materials, showcasing its robust business model and expertise in the sector.

Celanese Corporation (NYSE: CE) announced a price increase for several products effective December 1, 2022, or as contracts allow. Notable increases include a 15% hike for UHMW-PE across APAC, AMER, and EMEA, and specific increases per kg for different materials such as 0.50 for LCP and 1.50 for AEM. The company's strong positioning in specialty materials will support these changes, which aim to mitigate rising costs. This strategic decision is consistent with Celanese's efforts to enhance profitability amidst market challenges.

Celanese Corporation (NYSE: CE) reported third quarter 2022 diluted EPS of $1.76 and adjusted EPS of $3.94, with net sales of $2.3 billion, reflecting a 7% decline from the prior quarter. The decrease resulted from a price drop of 3% and a volume reduction of 2%. Operating profit stood at $308 million, impacted by rising costs and a decline in demand, particularly in Europe and Asia. The acquisition of Mobility & Materials completed on November 1, 2022, aims to enhance growth. Fourth quarter adjusted EPS guidance is set between $1.50 and $2.00, factoring in the acquisition's impact.

Celanese Corporation (NYSE: CE) has successfully acquired the majority of the Mobility & Materials (M&M) business from DuPont. This acquisition enables Celanese to enhance its position as a global leader in specialty materials, incorporating renowned brands and extensive product portfolios into its operations. The transaction, initially announced in February 2022, includes a range of engineered thermoplastics and elastomers along with global production capabilities. Future commentary on the acquisition will be provided during the upcoming third-quarter earnings call.

Celanese Corporation (NYSE: CE) has announced the lifting of the force majeure declared on May 11, 2022, for several Acetyl Chain products in the Western Hemisphere, including acetic acid and vinyl acetate monomer. However, the company is unable to lift the force majeure for its acetate tow products due to ongoing supply chain issues. Celanese continues to assess its supply and logistics challenges and will notify when normal supply resumes.

Celanese Corporation (NYSE: CE) has declared a quarterly cash dividend of $0.70 per share, an increase from the previous $0.68 per share, effective November 14, 2022, to shareholders on record as of October 31, 2022. This 3% raise reflects a commitment to returning value to shareholders, representing an additional cash outlay of less than $10 million based on current shares. Celanese emphasizes a decade-long history of annual dividend growth, aligning this increase with their deleveraging plan following the acquisition of Mobility & Materials.