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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.
Revenue by Segment
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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