If you like to see more ideas, please subscribe to the premium service "Value in Corporate Events" here and try the free trial. In this service we cover major earnings events, M&A, IPOs and other significant corporate events with actionable ideas. Furthermore, we provide coverage of situations and names on request!In the final days of 2023, I observed that investors in Celanese Corporation ( CE ) saw a sign of relief. This followed a tough time following the purchase of DuPont's Materials & Mobility busines ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________ Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32410 CELANESE CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 98- ...

Key TakeawaysDeutsche Bank upgraded Celanese stock to "buy," saying yesterday's big selloff was overdone.The bank's analysts called the chemical supplier's problems "painful but transitory."The analysts called Celanese a "high-quality" company. Their price target calls for appreciation, but is below the Street's consensus. Shares of Celanese (CE) dropped 26% yesterday. At least one Wall Street analysts says it's time to get back on board. The chemical supplier's shares, which plummeted yesterday after a di ...

Financial Performance - Celanese missed profit and sales forecasts with Q3 EPS of $2 44 and revenue down 2 8% to $2 65 billion [1] - The company anticipates current-quarter EPS of $1 25 which is less than half of analysts' estimates [1] Market Reaction - Celanese was the worst-performing stock in the S&P 500 on Tuesday with shares down 25% in afternoon trading and off about 40% year-to-date [1] - The stock price dropped to 93 19 a decrease of 31 62 (25 33%) [2] Cost-Cutting Measures - Celanese is cutting costs by slashing dividends by 95% reducing the quarterly dividend from $0 70 per share [1] - The company plans to idle production plants in every region and raise $200 million through an inventory release this quarter [1] Demand Environment - Celanese faced "persistent demand weakness" in key end-markets like paints coatings and construction as well as rapid downturns in Western Hemisphere automotive and industrial segments [1] - The CEO warned that demand conditions are expected to worsen in the fourth quarter [1]

Financial Data and Key Metrics Changes - The Q3 results were disappointing, with the outlook for Q4 and into 2025 below expectations and goals [4][5] - The company plans to temporarily reduce its quarterly dividend starting in Q1 2025 to support deleveraging efforts [4][5] - The expected cash flow for the year is projected to be around $800 million to $900 million, with additional cash flow anticipated from cost reduction initiatives [8][9] Business Line Data and Key Metrics Changes - The Engineered Materials (EM) business showed year-on-year EBIT growth, but challenges remain in pricing and volume, particularly in the nylon segment [31][47] - The Acetyl Chain segment has maintained strong margins despite macroeconomic headwinds, supported by a favorable cost structure and technology advantages [63][64] Market Data and Key Metrics Changes - The automotive sector has faced significant demand challenges, with European auto builds down 14% from Q2 to Q3 [13] - The company has observed a decline in demand in China, particularly in construction and coatings markets, impacting overall performance [39] Company Strategy and Development Direction - The company is focused on four priorities: reducing costs, delivering synergies, enhancing the project pipeline, and leveraging the integrated model of the Acetyl Chain [19] - There is a strong emphasis on opportunistic divestitures and optimizing the asset footprint to align with current market conditions [66] Management's Comments on Operating Environment and Future Outlook - Management acknowledged persistent macroeconomic headwinds affecting demand and cash flow, leading to the decision to cut the dividend [20][26] - There is uncertainty regarding the operating environment in 2025, with management focusing on controlling internal factors to drive performance [18][26] Other Important Information - The company recorded a $34 million impairment on trade names, primarily related to Zytel, during the third quarter [17] - Management is committed to deleveraging the balance sheet to a target of 3 times net debt to EBITDA as quickly as possible [9][51] Q&A Session Summary Question: Cash flow divestitures and deleveraging expectations - Management emphasized focusing on EBIT and cost reduction initiatives, with a typical cash flow level expected to be $800 million to $900 million [8] Question: Decline in the second half of the year - Management noted that expectations were initially stronger, but demand pressures in the automotive and industrial sectors became apparent in August [13] Question: Dividend cut rationale - The dividend cut was deemed necessary to support deleveraging efforts amid lower-than-expected cash flow [20][26] Question: Fourth quarter EBITDA outlook for EM - Management indicated that there are one-offs affecting the fourth quarter, but expects most of these to recover in Q1 2025 [16] Question: Auto market expectations - Management acknowledged that while there was an expectation of a slight uptick in auto production, demand deteriorated significantly in August [22] Question: Sustainability of acetyl chain margins - Management expressed confidence in the sustainability of margins due to global trade flows and enhanced flexibility in operations [63][64] Question: Project pipeline and market traction - Management highlighted ongoing efforts to enhance the project pipeline and focus on non-automotive applications to drive growth [49]

Earnings and Revenue - Celanese Corporation reported Q3 2024 earnings from continuing operations of $1 08 per share, down from $8 70 in the prior-year quarter [1] - Adjusted earnings were $2 44 per share, down 2 4% from $2 50 a year ago, missing the Zacks Consensus Estimate of $2 84 [1] - Revenues of $2,648 million decreased 2 7% year over year, missing the Zacks Consensus Estimate of $2,685 million [1] Segment Performance - Engineered Materials unit net sales were $1,481 million, down 3% year over year, missing the estimate of $1,609 5 million [3] - The segment reported an operating profit of $102 million and an adjusted EBIT of $237 million [3] - Acetyl Chain segment net sales were $1,190 million, down 12 7% year over year, beating the estimate of $1,162 1 million [4] - The segment generated an operating profit of $239 million and an adjusted EBIT of $276 million [4] Financial Position - Celanese ended the quarter with cash and cash equivalents of $813 million, down 31 4% sequentially [5] - Long-term debt increased 2 4% sequentially to $11,324 million [5] - Cash provided by operating activities was $79 million, and free cash flow was a negative $16 million [5] - Capital expenditures were $131 million in the quarter [5] Market and Demand - Celanese experienced sustained demand weakness in major end-markets such as paints, coatings, and construction [2] - Downturns were observed in the Western Hemisphere automobile and industrial sectors [2] - The company anticipates a deterioration in demand in Q4 due to higher-than-normal seasonal destocking in automotive and industrial markets [6] - Celanese plans to reduce output and generate cash through inventory drawdowns, expecting the destocking to last only for the quarter [6] Outlook and Strategy - Celanese expects adjusted earnings per share of around $1 25 in Q4 [7] - The company aims to create long-term shareholder value by improving earnings, reducing costs, expanding free cash flow, and deleveraging [7] Stock Performance - Celanese's shares gained 2 9% in the past year, compared to a 2 9% decline in the industry [8]

For the quarter ended September 2024, Celanese (CE) reported revenue of $2.65 billion, down 2.8% over the same period last year. EPS came in at $2.44, compared to $2.50 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.68 billion, representing a surprise of -1.38%. The company delivered an EPS surprise of -14.08%, with the consensus EPS estimate being $2.84.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

Celanese (CE) came out with quarterly earnings of $2.44 per share, missing the Zacks Consensus Estimate of $2.84 per share. This compares to earnings of $2.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.08%. A quarter ago, it was expected that this chemical company would post earnings of $2.80 per share when it actually produced earnings of $2.38, delivering a surprise of -15%.Over the last four quarters, the company h ...

Exhibit 99.2 Non-US GAAP Financial Measures and Supplemental Information November 4, 2024 In this document, the terms the "Company," "we" and "our" refer to Celanese Corporation and its subsidiaries on a consolidated basis. Purpose The purpose of this document is to provide information of interest to investors, analysts and other parties including supplemental financial information and reconciliations and other information concerning our use of non-US GAAP financial measures. This document is updated quarte ...

Celanese Corporation (CE) is scheduled to release third-quarter 2024 results after the closing bell on Nov. 4. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The company surpassed Zacks Consensus Estimate for earnings in two of the last four quarters and missed twice. CE delivered a trailing four-quarter earnings surprise of around 1.3% on average. Celanese's investment in high-return organic projects, cost-cutting initiatives and acquisition synergies are likely to have contribut ...