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Celanese
🇺🇸 NYSE:CE
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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.

Total Revenue
$2.27B
Previous year: $1.41B
+60.6%
EPS
$4.82
Previous year: $1.95
+147.2%
Gross Profit
$715M
Previous year: $327M
+118.7%
Cash and Equivalents
$1.34B
Previous year: $615M
+117.9%
Free Cash Flow
$520M
Previous year: $351M
+48.1%
Total Assets
$11.6B
Previous year: $9.77B
+18.6%

Celanese

Celanese

Celanese Revenue by Segment

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

Company Overview

Full financial data and analysis

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