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Celanese Q1 adjusted earnings $6.02, forecast up

Staff writer ▼ | April 19, 2016
In fiscal 2015, Celanese posted adjusted earnings of $6.02. The previous forecast was $6.32 to $6.62, which represents a 5% to 10% increase from 2015.
Celanese   The company reported earnings of $259 million
The company said it had raised the tail end of its forecast for adjusted earnings on a per-share basis to 8% to 10% growth.

Celanese revenue in the material solutions segment rose to $594 million in the first quarter, while revenue for its acetyl chain dropped 7.5% to $840 million.

Overall, Celanese reported earnings of $259 million, or $1.73 a share, up from earnings of $234 million, or $1.53 a share, a year earlier. Excluding certain items and costs, the company posted adjusted earnings of $1.83 per share, up from $1.72 a year ago.

Revenue dropped 3.2% to $1.4 billion.