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Celanese (CE) to Raise Prices of Acetyl Intermediate Products
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Celanese Corporation (CE - Free Report) will raise the list and off-list selling prices of a few acetyl intermediates products. The price hike will be effective immediately or as contracts permit.
The company will increase the price of Acetic Acid and Acetic Anhydride by ¥300/MT and ¥400/MT, respectively in China. Price of Acetic Acid will rise by 2 cents per lb in the United States & Canada and by $50/MT in Mexico & South America. In Asia, outside China, prices of Acetic Acid, Butyl Acetate and Ethyl Acetate will be hiked by $50/MT. In Europe and Middle East, the prices of Acetic Acid and Vinyl Acetate Monomer will rise by €50/MT.
The company is taking appropriate pricing actions amid a volatile raw material pricing environment. Celanese’s strategic measures include operational cost savings through productivity actions and pricing initiatives which are likely to provide an impetus to its earnings in 2018.
In the last six months, shares of the company have moved up 11.7%, outperforming the industry’s 4.5% growth.
Celanese has kept its earnings streak alive with a beat in fourth-quarter 2017. The company logged adjusted earnings per share of $1.98 in the quarter, up 30.3% from $1.52 a year ago. The figure surpassed the Zacks Consensus Estimate of $1.86.
In the fourth quarter, revenues of $1,593 million were up roughly 21.5% year over year. The top line outpaced the Zacks Consensus Estimate of $1,530 million.
The company expects the Advanced Engineered Materials pipeline model to evolve into an increased level of project volume and the Acetyl Chain unit to carry the momentum forward. Meanwhile, tow earnings is anticipated to remain relatively flat. For 2018, Celanese expects adjusted earnings to grow in the 10-14% range with more growth to be witnessed in the first half of the year.
Methanex has an expected long-term earnings growth rate of 15%. Its shares have gained 8.7% over a year.
LyondellBasell has an expected long-term earnings growth rate of 9%. The company’s shares have rallied 14.9% in a year.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have surged 42.8% over a year.
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It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
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Celanese (CE) to Raise Prices of Acetyl Intermediate Products
Celanese Corporation (CE - Free Report) will raise the list and off-list selling prices of a few acetyl intermediates products. The price hike will be effective immediately or as contracts permit.
The company will increase the price of Acetic Acid and Acetic Anhydride by ¥300/MT and ¥400/MT, respectively in China. Price of Acetic Acid will rise by 2 cents per lb in the United States & Canada and by $50/MT in Mexico & South America. In Asia, outside China, prices of Acetic Acid, Butyl Acetate and Ethyl Acetate will be hiked by $50/MT. In Europe and Middle East, the prices of Acetic Acid and Vinyl Acetate Monomer will rise by €50/MT.
The company is taking appropriate pricing actions amid a volatile raw material pricing environment. Celanese’s strategic measures include operational cost savings through productivity actions and pricing initiatives which are likely to provide an impetus to its earnings in 2018.
In the last six months, shares of the company have moved up 11.7%, outperforming the industry’s 4.5% growth.
Celanese has kept its earnings streak alive with a beat in fourth-quarter 2017. The company logged adjusted earnings per share of $1.98 in the quarter, up 30.3% from $1.52 a year ago. The figure surpassed the Zacks Consensus Estimate of $1.86.
In the fourth quarter, revenues of $1,593 million were up roughly 21.5% year over year. The top line outpaced the Zacks Consensus Estimate of $1,530 million.
The company expects the Advanced Engineered Materials pipeline model to evolve into an increased level of project volume and the Acetyl Chain unit to carry the momentum forward. Meanwhile, tow earnings is anticipated to remain relatively flat. For 2018, Celanese expects adjusted earnings to grow in the 10-14% range with more growth to be witnessed in the first half of the year.
Celanese Corporation Price and Consensus
Celanese Corporation Price and Consensus | Celanese Corporation Quote
Zacks Rank & Stocks to Consider
Celanese currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Methanex Corporation (MEOH - Free Report) , LyondellBasell Industries N.V. (LYB - Free Report) and The Chemours Company (CC - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Methanex has an expected long-term earnings growth rate of 15%. Its shares have gained 8.7% over a year.
LyondellBasell has an expected long-term earnings growth rate of 9%. The company’s shares have rallied 14.9% in a year.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have surged 42.8% over a year.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>