Celanese, a technology and specialty materials company, reported Wednesday Q4 adjusted earnings of $1.52 per share, up from $1.25 per share in the prior year period and above the $1.51 average estimate from analysts polled by Capital IQ. Net sales for the quarter were $1.31 billion, down slightly from $1.33 billion reported for the same period last year and above the $1.29 billion consensus.
“In 2017, we are starting to see early signs of recovery in the Chinese economy while Europe and the Americas remain stable,” CEO Mark Rohr said. “Advanced Engineered Materials should continue to unlock value by commercializing new projects and extending the pipeline model through our recent acquisitions. The prevailing uplift in the raw materials complex is encouraging and allows us to flex the acetyl value chain to expand margins globally. We believe that the agility of our business models in both the cores and our commitment to productivity will enable us to grow over the headwinds in tow and currency. At this time, we see a path to increasing adjusted earnings per share in the range of 8% to 11% in 2017, with a back-half loaded earnings profile due to major planned turnarounds in the first half,” said CEO Mark Rohr.