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Sep 30, 2022
Celanese Q3 2022 Earnings Report
Celanese reported Q3 2022 GAAP diluted earnings per share of $1.76 and adjusted earnings per share of $3.94.
Key Takeaways
Celanese reported a decrease in net sales to $2.3 billion, a 7% decrease from the prior quarter. The company navigated declines in European and Asian demand, customer destocking, and continued cost inflation to deliver a consolidated operating profit of $308 million and an adjusted EBIT of $510 million. The acquisition of Mobility & Materials (M&M) was successfully completed on November 1, 2022.
Net sales were $2.3 billion, a 7% decrease from the prior quarter.
GAAP diluted earnings per share were $1.76 and adjusted earnings per share was $3.94.
Consolidated operating profit was $308 million and adjusted EBIT was $510 million.
Mobility & Materials acquisition completed on November 1, 2022.
Revenue by Segment
Forward Guidance
Celanese expects fourth quarter adjusted earnings per share of $1.50 to $2.00, inclusive of the currently expected impact from the M&M acquisition in November and December.
Challenges Ahead
- Current order books validate our belief that the remainder of 2022 and the start of 2023 will be challenged by typical winter seasonality.
- Continued demand weakness in certain end-markets.
- Customer destocking.
- Taking a series of controllable actions across our global supply chain.
- Committed as an organization to maximizing the earnings and cash generation of our businesses, integrating and synergizing M&M, and executing against our deleveraging plan.
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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