Chemical company Celanese Corporation (CE - Analyst Report) will showcase Fortron polyphenylene sulfide (PPS) productivity and processing properties for automotive applications at the ITB Automotive Engine Air and Cooling Systems 2014 conference on Jun 5 in Novi, MI.
Fortron PPS is a high-temperature semicrystalline polymer that provides high thermal stability, very high chemical resistance, stiffness, strength and creep resistance- including automotive/aircraft fuels and fluids, strong acids and bases (pH 2 to 12) — even at elevated temperatures of up to 240 degrees Celsius (464 degrees Fahrenheit). It is used to replace metals and thermosets in various automotive, electrical/electronics, aerospace, fluid handling, and industrial and consumer applications.
Celanese is a global chemicals and specialty materials company that engineers and manufactures an array of products essential for daily use. As a recognized product and process technology innovator, it helps to create applications that meet customer needs worldwide.
Celanese posted strong first-quarter 2014 results on Apr 21. It reported adjusted earnings (excluding one-time items) of $1.33 per share, up 16.7% from $1.14 per share reported in the year-ago quarter. The results surpassed the Zacks Consensus Estimate of $1.21 per share.
Profit from continued operations (as reported) came in at $1.25 per share in the first quarter, surging roughly 42% from 88 cents per share posted in the prior-year quarter.
Sales in the quarter were $1,705 million, up 6.2% year over year and ahead of the Zacks Consensus Estimate of $1,682 million.
Celanese currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical space with a favorable Zacks Rank include Compass Minerals International Inc. (CMP - Snapshot Report), L'Air Liquide SA (AIQUY) and Koninklijke DSM N.V. (RDSMY). While Compass Minerals carries a Zacks Rank #1 (Strong Buy), both L'Air Liquide and Koninklijke DSM hold a Zacks Rank #2 (Buy).