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Jun 30, 2023
Celanese Q2 2023 Earnings Report
Celanese reported sequential earnings growth and record cash generation.
Key Takeaways
Celanese Corporation reported Q2 2023 GAAP diluted earnings per share of $2.00 and adjusted earnings per share of $2.17. Net sales were $2.8 billion, a decrease of 2% from the prior quarter. The company generated record operating cash flow of $762 million and free cash flow of $611 million.
Reduced inventory balances by $235 million.
Generated operating cash flow of $762 million and free cash flow of $611 million, all-time records.
Reduced net debt by $515 million.
Announced the signing of a definitive agreement with finalized terms and value for the Food Ingredients joint venture, Nutrinova.
Celanese
Celanese
Celanese Revenue by Segment
Revenue by Segment
Engineered Materials Revenue
CapyFin.comAcetyl Chain Revenue
CapyFin.com Forward Guidance
Celanese anticipates third quarter adjusted earnings per share of $2.00 to $2.50, inclusive of approximately $0.30 per share of M&M transaction amortization. Likewise, Celanese anticipates full year adjusted earnings per share of $9.00 to $10.00, inclusive of approximately $1.20 per share of M&M transaction amortization.
Positive Outlook
- Controllable actions
- Improvement in destocking conditions
- Commercial teams in a fluid sales environment
- Align production and inventory levels with current demand
- Aggressively reduce costs
Challenges Ahead
- Volatile demand
- Unpredictable competitive backdrop
- Persistently soft demand environment
- Volatile competitive backdrop
- M&M transaction amortization
Revenue & Expenses
Visualization of income flow from segment revenue to net income