Celanese Q1 2022 Earnings Report
Key Takeaways
Celanese Corporation reported a strong first quarter in 2022, with record net sales of $2.5 billion and adjusted earnings per share of $5.54. The company successfully mitigated cost inflation and sourcing constraints, delivering record consolidated operating profit and adjusted EBIT. Celanese also announced a definitive agreement to acquire a majority of the Mobility & Materials business of DuPont.
Net sales reached a record $2.5 billion, a 12 percent increase over the previous record in Q4 2021.
GAAP diluted earnings per share were $4.61, and adjusted earnings per share were $5.54.
Consolidated operating profit was $531 million, and adjusted EBIT was $713 million, both records.
A definitive agreement was announced to acquire a majority of the Mobility & Materials business of DuPont for $11.0 billion.
Celanese
Celanese
Celanese Revenue by Segment
Forward Guidance
Celanese expects second quarter adjusted earnings of approximately $4.50 per share and now expects 2022 adjusted earnings per share to approach the 2021 adjusted earnings per share performance.
Positive Outlook
- Strength in downstream Acetyl Chain products
- Continued robust performance in Engineered Materials.
- Successfully mitigated the vast majority of disruptions.
- Team continues to demonstrate the capability of our Engineered Materials and Acetyl Chain business models to deliver robust performance
- Despite persistent cost inflation and various external disruptions to our supply chain
Challenges Ahead
- COVID-19 lockdowns across China
- Worsening reliability of global maritime logistics.
- Pricing in upstream products within the Acetyl Chain continues to moderate.
- Monitoring developing challenges
- A reconciliation of forecasted adjusted earnings per share to U.S. GAAP diluted earnings per share is not available without unreasonable efforts
Revenue & Expenses
Visualization of income flow from segment revenue to net income