Celanese: Q4 Earnings Snapshot

IRVING, Texas (AP) — IRVING, Texas (AP) — Celanese Corporation (CE) on Tuesday reported fourth-quarter profit of $698 million.

On a per-share basis, the Irving, Texas-based company said it had profit of $6.37. Earnings, adjusted for non-recurring gains, came to $2.24 per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.29 per share.

The chemical company posted revenue of $2.57 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $2.61 billion.

For the year, the company reported profit of $1.96 billion, or $17.92 per share. Revenue was reported as $10.94 billion.

For the current quarter ending in March, Celanese expects its per-share earnings to range from $1.75 to $2.

Celanese shares have fallen nearly 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $149.37, a rise of 26% in the last 12 months.

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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