Celanese beats by $0.01, beats on revs; co is confident it can grow 2017 adjusted EPS toward the higher end of the 9-11% range, YoY (107.10 -0.25)
- Reports Q3 (Sep) earnings of $1.93 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $1.92; revenues rose 18.4% year/year to $1.57 bln vs the $1.49 bln Capital IQ Consensus.
Outlook:
- "Success in the third quarter and for most of 2017 has come from our ability to rapidly translate changes in the business environment into new value creation opportunities through our business models. In Advanced Engineered Materials, the disciplined approach to innovation through the pipeline model has raised profits and provided a road map for accelerating value uplift from the SO.F.TER. and Nilit acquisitions. The Acetyl Chain is expected to maintain its commercial traction in the quarter and additional initiatives are in place to take advantage of the gradual strengthening of the market. There is business and productivity momentum that should offset fourth quarter weakness. This combination gives confidence we can grow 2017 adjusted earnings per share toward the higher end of the 9-11% range, year over year," said Mark Rohr, chairman and chief executive officer.
- "We are unable to reconcile forecasted adjusted earnings per share growth to US GAAP diluted earnings per share without unreasonable efforts because a forecast of Certain Items, such as mark-to-market pension gains/losses, is not practical.