Celanese Q2 2021 Earnings Report
Key Takeaways
Celanese Corporation reported record net sales of $2.2 billion for the quarter with sequential pricing and volume increases of 18 percent and 4 percent, respectively. The Company reported GAAP diluted earnings per share of $4.81 and adjusted earnings per share of $5.02.
Actions over the past year positioned the Company to meet elevated post-pandemic demand in 2021 and to deliver record performance during the second quarter.
Engineered Materials and the Acetyl Chain successfully offset continued raw material inflation to drive consolidated operating profit of $567 million and adjusted EBIT of $691 million.
The recently announced acquisition of Santopreneâ„¢ and ongoing capital projects within the Acetyl Chain and Engineered Materials position the Company to further raise its future base earnings and deliver sustained shareholder value.
During the quarter, the Company returned $326 million of cash to shareholders in the form of share repurchases and dividends.
Celanese
Celanese
Celanese Revenue by Segment
Forward Guidance
The Company expects third quarter 2021 adjusted earnings of $4.50 to $4.75 per share and full year 2021 adjusted earnings of $16.50 to $17.00 per share.
Positive Outlook
- Teams' proactive response to the ongoing global supply chain constraints and inflationary backdrop have positioned us well as we enter the second half of 2021.
- Anticipate that continued moderation in Acetyl Chain industry pricing as the year progresses will be partially offset by strong fundamental demand across our businesses
- Expect modest continued sequential earnings momentum in Engineered Materials.
- Investing in future growth via organic opportunities within our businesses
- Disciplined M&A like the Santoprene acquisition, and share repurchases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income