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Sep 30, 2021
Celanese Q3 2021 Earnings Report
Reported record net sales and earnings per share, navigating sourcing and logistics constraints and cost inflation.
Key Takeaways
Celanese Corporation reported a record third quarter with GAAP diluted earnings per share of $4.67 and adjusted earnings per share of $4.82. The company's net sales were $2.3 billion, with sequential pricing and volume increases. The company successfully navigated sourcing and logistics constraints, cost inflation, and external disruptions.
Delivered the three highest quarterly adjusted earnings per share performances in company history.
Engineered Materials generated record net sales of $684 million.
Acetyl Chain generated record net sales of $1.5 billion.
Reported record operating cash flow of $630 million and record free cash flow of $520 million.
Celanese
Celanese
Celanese Revenue by Segment
Revenue by Segment
Engineered Materials Revenue
CapyFin.comAcetyl Chain Revenue
CapyFin.com Forward Guidance
Celanese expects to deliver fourth quarter adjusted earnings of approximately $5.00 per share and at least $15.00 per share for 2022.
Positive Outlook
- Demand for products remains strong across most end markets.
- Expect fourth quarter adjusted earnings of approximately $5.00 per share.
- Santoprene acquisition expected to close in the fourth quarter.
- Deployed over $2.7 billion this year to organic investments, M&A, and share repurchases to drive future earnings per share growth.
- Expect to deliver 2022 adjusted earnings of at least $15.00 per share.
Challenges Ahead
- Ongoing sourcing and logistics headwinds will continue to be the limiting constraint in meeting elevated demand.
- A reconciliation of forecasted adjusted earnings per share to US GAAP diluted earnings per share is not available without unreasonable efforts.
- Forecast of Certain Items, such as mark-to-market pension gains/losses, is not practical.
- Numerous evolving factors related to COVID-19 will depend on numerous evolving factors, which are highly uncertain, rapidly changing and cannot be predicted.
- Changes in general economic, business, political and regulatory conditions in the countries or regions in which we operate.
Revenue & Expenses
Visualization of income flow from segment revenue to net income