Celanese: Q2 Earnings Snapshot

IRVING, Texas (AP) — IRVING, Texas (AP) — Celanese Corporation (CE) on Thursday reported second-quarter net income of $155 million.

The Irving, Texas-based company said it had net income of $1.41 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $2.38 per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.80 per share.

The chemical company posted revenue of $2.65 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $2.73 billion.

For the current quarter ending in September, Celanese expects its per-share earnings to range from $2.75 to $3.

The company expects full-year earnings in the range of $10.25 to $10.75 per share.

Celanese shares have decreased 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $137.55, an increase of roughly 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CE at https://www.zacks.com/ap/CE