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Celanese Set 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 acetyl intermediate products. The price hike will be effective on or after Jun 1, 2018 or as contracts permit.
The company will raise the prices of Vinyl Acetate Ethylene by $150/MT in Mexico & South America and by €150/MT in Europe, Middle East & Africa. Prices of the same will increase by 5 cents per pound in United States & Canada.
Moreover, Acetic Acid prices will be hiked by €50/MT in Europe, Middle East & Africa and by $65/MT in Mexico & South America. Prices of the same will rise by 3 cents per pound in United States & Canada. In Europe, Middle East & Africa, prices of Ethyl Acetate will increase by €125/MT. Prices of the same will rise by $50/MT in Mexico &
South America and by 2 cents per pound in United States & Canada.
The company is taking appropriate pricing actions amid a volatile pricing environment for raw materials. Celanese’s strategic measures, including operational cost savings through productivity actions and pricing initiatives, are likely to provide an impetus to its earnings in 2018.
Celanese has outperformed the industry in a year’s time. While shares of the company have moved up around 31.4%, the industry saw a roughly 11.9% rise.
Celanese raised earnings guidance for 2018 based on strength across its Acetyl Chain and EM units. The company now envisions adjusted earnings per share to grow in the range of 20-25% year over year in 2018, up from its earlier view of 12-16%.
Celanese also remains focused on growth through acquisitions. The company, in February, wrapped up the 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.
FMC Corp has an expected long-term earnings growth rate of 13.6%. Its shares have gained around 19.2% over a year.
Huntsman has an expected long-term earnings growth rate of 8.3%. Its shares have moved up around 30.3% over a year.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have gained around 19.1% over a year.
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Celanese Set to Raise Prices of Acetyl Intermediate Products
Celanese Corporation (CE - Free Report) will raise the list and off-list selling prices of acetyl intermediate products. The price hike will be effective on or after Jun 1, 2018 or as contracts permit.
The company will raise the prices of Vinyl Acetate Ethylene by $150/MT in Mexico & South America and by €150/MT in Europe, Middle East & Africa. Prices of the same will increase by 5 cents per pound in United States & Canada.
Moreover, Acetic Acid prices will be hiked by €50/MT in Europe, Middle East & Africa and by $65/MT in Mexico & South America. Prices of the same will rise by 3 cents per pound in United States & Canada. In Europe, Middle East & Africa, prices of Ethyl Acetate will increase by €125/MT. Prices of the same will rise by $50/MT in Mexico &
South America and by 2 cents per pound in United States & Canada.
The company is taking appropriate pricing actions amid a volatile pricing environment for raw materials. Celanese’s strategic measures, including operational cost savings through productivity actions and pricing initiatives, are likely to provide an impetus to its earnings in 2018.
Celanese has outperformed the industry in a year’s time. While shares of the company have moved up around 31.4%, the industry saw a roughly 11.9% rise.
Celanese raised earnings guidance for 2018 based on strength across its Acetyl Chain and EM units. The company now envisions adjusted earnings per share to grow in the range of 20-25% year over year in 2018, up from its earlier view of 12-16%.
Celanese also remains focused on growth through acquisitions. The company, in February, wrapped up the 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 Corporation Price and Consensus
Celanese Corporation Price and Consensus | Celanese Corporation Quote
Zacks Rank & Other Stocks to Consider
Celanese is a Zacks Rank #1 (Strong Buy) stock.
Some other top-ranked companies in the basic materials space are FMC Corporation (FMC - Free Report) , Huntsman Corporation (HUN - Free Report) and The Chemours Company (CC - Free Report) . All three stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
FMC Corp has an expected long-term earnings growth rate of 13.6%. Its shares have gained around 19.2% over a year.
Huntsman has an expected long-term earnings growth rate of 8.3%. Its shares have moved up around 30.3% over a year.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have gained around 19.1% over a year.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>