Celanese earnings down 39% YOY

摘要

Celanese (Dallas, Texas) has reported second-quarter fnancial results, attributing declines in sales and earnings to soft demand, particularly in the automotive and electronics markets, and weak pricing in acetyls. Net income totaled $210 million, down 39% year over year (YOY) from $345 million, and sales totaled $1.592 billion, down 14% from $1.844 billion. Adjusted earnings came to $2.38/share, down 18% YOY but ahead of the average analyst estimate of $2.35/share as compiled by Refnitiv (New York).