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Dec 31, 2023
Celanese Q4 2023 Earnings Report
Reported full year and fourth quarter earnings, demonstrating resilience in a challenging environment through decisive cost reduction and cash generation strategies.
Key Takeaways
Celanese reported Q4 2023 GAAP diluted earnings per share of $6.43 and adjusted earnings per share of $2.24. The company generated record fourth quarter operating cash flow of $830 million and free cash flow of $702 million.
Delivered record cash generation.
Exceeded full year net debt reduction objective.
Enhanced the competitiveness of businesses.
Commissioned the carbon capture and utilization (CCU) methanol expansion at the Clear Lake, Texas site.
Celanese
Celanese
Celanese Revenue by Segment
Forward Guidance
The Company anticipates first quarter adjusted earnings per share of $1.75 to $2.00, inclusive of approximately $0.30 per share of M&M transaction amortization.
Positive Outlook
- M&M synergy capture
- Clear Lake acetic acid and methanol expansions
- Lower interest expense due to deleveraging
- Recognition of lower costs flowing through our inventory
Challenges Ahead
- Sequential volume and pricing conditions that are not expected to materially improve to start 2024
- Timing of major value creation projects
- Significant first quarter costs related to planned outages
Revenue & Expenses
Visualization of income flow from segment revenue to net income