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Celanese tops Street 1Q forecasts

IRVING, Texas (AP) _ Celanese Corp. (CE) on Monday reported first-quarter net income of $183 million.

On a per-share basis, the Irving, Texas-based company said it had net income of $1.30. Earnings, adjusted for non-recurring costs, were $1.81 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.

The chemical company posted revenue of $1.47 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.46 billion.

Celanese shares have risen 15 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $90.50, an increase of 31 percent 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


Keywords: Celanese, Earnings Report