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Celanese: 4Q Earnings Snapshot

IRVING, Texas (AP) _ Celanese Corporation (CE) on Thursday reported fourth-quarter profit of $43 million.

On a per-share basis, the Irving, Texas-based company said it had net income of 36 cents. Earnings, adjusted for one-time gains and costs, were $1.99 per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.09 per share.

The chemical company posted revenue of $1.43 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $1.5 billion.

For the year, the company reported profit of $852 million, or $6.84 per share. Revenue was reported as $6.3 billion.

Celanese expects full-year earnings to be $11 per share.

Celanese shares have decreased 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $110.26, a rise of 13% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CE at https://www.zacks.com/ap/CE