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Celanese (CE) Set to Raise Prices of Acetate Flake Grades
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Celanese Corporation (CE - Free Report) is increasing the prices of acetate flake grades. The price hike will be put into effect from Sep 1, 2018, or as contracts permit.
The company will increase the prices of acetate flake by 50 cents per kg for all orders shipped based on the assessment of current industry conditions. The hike applies to flake grades for all end-use applications, including but not limited to plastics, textile filament, film, coatings, non-wovens, and medical.
Celanese is taking appropriate pricing actions amid a volatile pricing environment for raw materials. The company’s strategic measures, including operational cost savings through productivity actions and pricing initiatives, are likely to boost earnings in 2018.
Celanese has outperformed the industry in a year’s time. While shares of the company have moved up around 18.6%, the industry saw a rough 6.3% rise.
Last month, Celanese raised its adjusted earnings per share guidance for 2018 to roughly $10.50-$10.75 based on strength across Engineered Materials (EM) and Acetyl Chain units. The company expects the Acetyl Chain momentum to continue in the third quarter. It also expects Acetate Tow earnings to remain relatively flat year over year in 2018.
Sales from the EM unit increased year over year in the second quarter. Growth in Asia and the Americas, better product mix, recent acquisitions and project commercializations contributed to the division’s earnings. The company commercialized 733 projects in EM during the quarter and is on track to win nearly 3,000 projects this year.
However, Celanese saw lower volume and pricing in the second quarter in its Acetate Tow segment due to decreased industry capacity utilization, partly masked by mix and productivity gains. The Acetyl Chain segment gained from improving acetyl industry fundamentals as well as higher volumes and pricing in the quarter.
Some other top-ranked companies in the basic materials space are Huntsman Corporation (HUN - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and LyondellBasell Industries N.V. (LYB - Free Report) .
Air Products has an expected long-term earnings growth rate of 12.8% and a Zacks Rank #2 (Buy). Its shares have gained 7.7% in a year’s time.
LyondellBasell has an expected long-term earnings growth rate of 9.5% and carries a Zacks Rank #2. The stock has rallied 28.4% in a year.
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Celanese (CE) Set to Raise Prices of Acetate Flake Grades
Celanese Corporation (CE - Free Report) is increasing the prices of acetate flake grades. The price hike will be put into effect from Sep 1, 2018, or as contracts permit.
The company will increase the prices of acetate flake by 50 cents per kg for all orders shipped based on the assessment of current industry conditions. The hike applies to flake grades for all end-use applications, including but not limited to plastics, textile filament, film, coatings, non-wovens, and medical.
Celanese is taking appropriate pricing actions amid a volatile pricing environment for raw materials. The company’s strategic measures, including operational cost savings through productivity actions and pricing initiatives, are likely to boost earnings in 2018.
Celanese has outperformed the industry in a year’s time. While shares of the company have moved up around 18.6%, the industry saw a rough 6.3% rise.
Last month, Celanese raised its adjusted earnings per share guidance for 2018 to roughly $10.50-$10.75 based on strength across Engineered Materials (EM) and Acetyl Chain units. The company expects the Acetyl Chain momentum to continue in the third quarter. It also expects Acetate Tow earnings to remain relatively flat year over year in 2018.
Sales from the EM unit increased year over year in the second quarter. Growth in Asia and the Americas, better product mix, recent acquisitions and project commercializations contributed to the division’s earnings. The company commercialized 733 projects in EM during the quarter and is on track to win nearly 3,000 projects this year.
However, Celanese saw lower volume and pricing in the second quarter in its Acetate Tow segment due to decreased industry capacity utilization, partly masked by mix and productivity gains. The Acetyl Chain segment gained from improving acetyl industry fundamentals as well as higher volumes and pricing in the quarter.
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 Huntsman Corporation (HUN - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and LyondellBasell Industries N.V. (LYB - Free Report) .
Huntsman has an expected long-term earnings growth rate of 8.5% and a Zacks Rank #1. The company’s shares have rallied 23.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Air Products has an expected long-term earnings growth rate of 12.8% and a Zacks Rank #2 (Buy). Its shares have gained 7.7% in a year’s time.
LyondellBasell has an expected long-term earnings growth rate of 9.5% and carries a Zacks Rank #2. The stock has rallied 28.4% in a year.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>