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Dec 31, 2022
Celanese Q4 2022 Earnings Report
Reported resilient performance despite challenging conditions, delivering GAAP diluted earnings per share of $7.03 and adjusted earnings per share of $1.44.
Key Takeaways
Celanese Corporation reported fourth-quarter earnings, highlighting resilient performance amidst challenging market conditions. The company's adjusted earnings per share performance was within 12 percent of the all-time high delivered in 2021 and 44 percent higher than the next best year.
Completed the acquisition of Mobility & Materials on November 1, 2022.
Announced the signing of a term sheet to form a standalone Food Ingredients joint venture.
Completed a strategic overhaul of the acetate flake and tow products as part of the Acetyl Chain.
Completed an ultra-low capital project, at the EVA facility in Edmonton, to repurpose existing manufacturing and infrastructure assets and unlock approximately 35 percent incremental capacity to meet strong demand growth.
Celanese
Celanese
Celanese Revenue by Segment
Revenue by Segment
Engineered Materials Revenue
CapyFin.comAcetyl Chain Revenue
CapyFin.com Forward Guidance
The company anticipates first quarter adjusted earnings per share of $1.50 to $1.75, inclusive of approximately $0.30 per share of M&M transaction amortization. An upward trajectory in quarterly earnings across 2023 is expected as a result of demand improvement, enhancements to businesses, and M&M synergies.
Positive Outlook
- March order books reflect improvement in many of the recent external challenges
- Confident that the back half of the first quarter will represent an inflection point
- Sequential earnings improvement across our businesses
- Demand improvement reflected in our current order books
- Enhancements to our businesses, and M&M synergies
Challenges Ahead
- Accelerated destocking
- Poor sequential demand in Asia due to COVID
- Challenging competitive dynamics in Europe
- Impact of Winter Storm Elliott
- Taking action to address those which still persist
Revenue & Expenses
Visualization of income flow from segment revenue to net income