Celanese Corporation - CE STOCK NEWS

Celanese Corporation (NYSE: CE) has announced a significant investment in expanding its capabilities to meet the rising global demand for pharmaceutical-grade polymers. A new 1,000-square-foot cleanroom facility in Edmonton, Alberta, will be dedicated to cryogenic micronization of VitalDose® EVA material. This process aims to enhance drug delivery solutions for various medical conditions, including cancer and retinal disorders. The facility is expected to begin operations by early 2023, further solidifying Celanese's position in the pharmaceutical market.

Celanese Corporation (NYSE: CE) is set to host its third quarter 2022 earnings call on November 4, 2022 at 10:00 a.m. Eastern time. The call will occur later than usual, as the company anticipates completing its acquisition of DuPont Mobility & Materials on November 1, 2022, pending regulatory approvals. This delay is expected to provide more insight into current demand conditions for a more relevant business outlook. The earnings press release will be available post-market on November 3, 2022.

Celanese Corporation (NYSE: CE) has received a grant from the Bill & Melinda Gates Foundation to develop a refillable contraceptive implant. This project aims to create a functional prototype within 18 months, focusing on enhancing access to contraceptive options for women in low- and middle-income countries. The development will leverage Celanese's VitalDose® drug delivery technology, which has a strong history in women's health. This initiative aligns with Celanese's mission to expand healthcare access globally.

Celanese Corporation (NYSE: CE) reported second quarter 2022 GAAP diluted EPS of $4.03 and adjusted EPS of $4.99, with net sales of $2.5 billion, reflecting a 2% decrease from the prior quarter but a 13% increase year-over-year. The company successfully offset supply interruptions and inflation, achieving an operating profit of $483 million. Record sales in Engineered Materials reached $948 million. The firm secured $10.5 billion in financing for the DuPont M&M acquisition. However, they anticipate softening demand and expect adjusted EPS of $4.00 to $4.50 for Q3.

Celanese Corporation (NYSE: CE) has declared a quarterly cash dividend of $0.68 per share on common stock, payable on August 8, 2022. This dividend is designated for shareholders of record as of July 25, 2022. With a strong presence in the chemical industry, Celanese reported net sales of $8.5 billion in 2021, showcasing its robust financial health and commitment to delivering value to shareholders.

Celanese Corporation (NYSE: CE) has priced an additional €1.5 billion in permanent financing to acquire a majority of DuPont’s Mobility & Materials business. This brings the total secured financing for the acquisition to $10.5 billion at an effective net borrowing rate of approximately 5.4%. The new euro notes feature maturities of 4 and 6.5 years, with interest rates of 4.78% and 5.34%. Celanese aims to optimize its debt profile, increase flexibility, and potentially reduce borrowing costs through future cross-currency swaps.

Celanese Corporation (NYSE: CE) has priced $7.5 billion in permanent financing to acquire a majority of DuPont's Mobility & Materials business. The offering includes notes with interest rates between 5.91% and 6.38%, expected to close around July 14, 2022. Celanese also entered a cross-currency swap to convert $2.5 billion of USD notes into euro-denominated borrowing. The effective net borrowing rate is projected at approximately 5.6%. This financing secures a significant portion of the acquisition, with potential flexibility for future funding sources.

Celanese Corporation (NYSE: CE) will host a conference call on July 29, 2022, at 10:00 a.m. ET to discuss its Q2 2022 earnings. The earnings press release will be distributed on July 28, 2022, after market close. Investors can access the call via webcast or dial in at 1-877-407-0989 (international: 1-201-389-0921). A replay will be available on demand from July 29 to August 12, 2022. Celanese had $8.5 billion in net sales in 2021, employing around 8,500 people globally.

Celanese Corporation (NYSE: CE) has announced an immediate increase in list and off-list selling prices for various acetyl intermediate products. Prices for Acetic Acid and Acetic Anhydride will rise to $100/MT, Vinyl Acetate Monomer to $200/MT, Ethyl Acetate/Butyl Acetate to $50/MT, VAE Emulsions to $100/MT, and Redispersable Powders to $150/MT. The adjustments are applicable as contracts allow and are incremental to previous increases. Celanese continues to leverage its global chemistry to deliver value across industries.