Celanese to Showcase Fortron PPS

Zacks Equity Research

Chemical company Celanese Corporation (CE) will showcase Fortron polyphenylene sulfide (PPS) productivity and processing properties for automotive applications at the ITB Automotive Engine Air and Cooling Systems 2014 conference on Jun 5 in Novi, MI.

Fortron PPS is a high-temperature semicrystalline polymer that provides high thermal stability, very high chemical resistance, stiffness, strength and creep resistance- including automotive/aircraft fuels and fluids, strong acids and bases (pH 2 to 12) — even at elevated temperatures of up to 240 degrees Celsius (464 degrees Fahrenheit). It is used to replace metals and thermosets in various automotive, electrical/electronics, aerospace, fluid handling, and industrial and consumer applications.

Celanese is a global chemicals and specialty materials company that engineers and manufactures an array of products essential for daily use. As a recognized product and process technology innovator, it helps to create applications that meet customer needs worldwide.

Celanese posted strong first-quarter 2014 results on Apr 21. It reported adjusted earnings (excluding one-time items) of $1.33 per share, up 16.7% from $1.14 per share reported in the year-ago quarter. The results surpassed the Zacks Consensus Estimate of $1.21 per share.

Profit from continued operations (as reported) came in at $1.25 per share in the first quarter, surging roughly 42% from 88 cents per share posted in the prior-year quarter.

Sales in the quarter were $1,705 million, up 6.2% year over year and ahead of the Zacks Consensus Estimate of $1,682 million.

Celanese currently carries a Zacks Rank #3 (Hold).

Other companies in the chemical space with a favorable Zacks Rank include Compass Minerals International Inc. (CMP), L'Air Liquide SA (AIQUY) and Koninklijke DSM N.V. (RDSMY). While Compass Minerals carries a Zacks Rank #1 (Strong Buy), both L'Air Liquide and Koninklijke DSM hold a Zacks Rank #2 (Buy).

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Read the Full Research Report on CMP
Read the Full Research Report on RDSMY

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