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Celanese Lifts FY18 Earnings View on Business Strength
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Celanese Corporation (CE - Free Report) has raised its earnings guidance for 2018, citing a stronger start to the year across its Acetyl Chain and Advanced Engineered Materials businesses. The chemical maker now envisions its adjusted earnings per share to grow in the 12-16% range year over year in 2018, up from its earlier view of 10-14% growth.
Celanese is witnessing better-than-expected performance in each of its businesses. The company noted that its Acetyl Chain unit continues to build momentum globally while improved pricing and strong demand trends in its Advanced Engineered Materials business are contributing to its earnings strength. Celanese plans to provide more details during its first-quarter 2018 earnings call.
Celanese’s shares have moved up 14.8% over a year, modestly outperforming the industry’s 13.9% gain.
Celanese kept its earnings streak alive with a beat in fourth-quarter 2017. The company’s strategic measures including operational cost savings through productivity actions and pricing initiatives are likely to lend support to its earnings in 2018.
Celanese, in its fourth-quarter call, said that it expects the Advanced Engineered Materials pipeline model to evolve into an increased level of project volume and its Acetyl Chain unit to continue the momentum from its improved model.
Celanese, last month, wrapped up its acquisition of Omni Plastics L.L.C. and its subsidiaries, including the distributor Resinal de Mexico. Omni Plastics specializes in custom compounding of various engineered thermoplastic materials, which is a material of choice in various markets including electrical and electronics, automotive, industrial and consumer goods.
The buyout reinforces Celanese’s global asset base by adding compounding capacity in the Americas, which will allow the company to continue supporting a diverse and growing customer base.
Olympic Steel has an expected long-term earnings growth rate of 7.5%. Its shares rallied 28% over the past six months.
Steel Dynamics has an expected long-term earnings growth rate of 15%. Its shares have gained roughly 38% over the past six months.
LyondellBasell has an expected long-term earnings growth rate of 9%. Its shares have rallied around 20% over the past six months.
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Celanese Lifts FY18 Earnings View on Business Strength
Celanese Corporation (CE - Free Report) has raised its earnings guidance for 2018, citing a stronger start to the year across its Acetyl Chain and Advanced Engineered Materials businesses. The chemical maker now envisions its adjusted earnings per share to grow in the 12-16% range year over year in 2018, up from its earlier view of 10-14% growth.
Celanese is witnessing better-than-expected performance in each of its businesses. The company noted that its Acetyl Chain unit continues to build momentum globally while improved pricing and strong demand trends in its Advanced Engineered Materials business are contributing to its earnings strength. Celanese plans to provide more details during its first-quarter 2018 earnings call.
Celanese’s shares have moved up 14.8% over a year, modestly outperforming the industry’s 13.9% gain.
Celanese kept its earnings streak alive with a beat in fourth-quarter 2017. The company’s strategic measures including operational cost savings through productivity actions and pricing initiatives are likely to lend support to its earnings in 2018.
Celanese, in its fourth-quarter call, said that it expects the Advanced Engineered Materials pipeline model to evolve into an increased level of project volume and its Acetyl Chain unit to continue the momentum from its improved model.
Celanese, last month, wrapped up its acquisition of Omni Plastics L.L.C. and its subsidiaries, including the distributor Resinal de Mexico. Omni Plastics specializes in custom compounding of various engineered thermoplastic materials, which is a material of choice in various markets including electrical and electronics, automotive, industrial and consumer goods.
The buyout reinforces Celanese’s global asset base by adding compounding capacity in the Americas, which will allow the company to continue supporting a diverse and growing customer base.
Celanese is a Zacks Rank #3 (Hold) stock.
Celanese Corporation Price and Consensus
Celanese Corporation Price and Consensus | Celanese Corporation Quote
Stocks to Consider
Better-ranked companies in the basic materials space include Olympic Steel, Inc. (ZEUS - Free Report) , Steel Dynamics, Inc. (STLD - Free Report) and LyondellBasell Industries N.V. (LYB - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Olympic Steel has an expected long-term earnings growth rate of 7.5%. Its shares rallied 28% over the past six months.
Steel Dynamics has an expected long-term earnings growth rate of 15%. Its shares have gained roughly 38% over the past six months.
LyondellBasell has an expected long-term earnings growth rate of 9%. Its shares have rallied around 20% over the past six months.
Don’t Even Think About Buying Bitcoin Until You Read This
The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.
Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
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