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Celanese: Q1 Earnings Snapshot

IRVING, Texas (AP) — IRVING, Texas (AP) — Celanese Corporation (CE) on Tuesday reported first-quarter profit of $44 million.

On a per-share basis, the Irving, Texas-based company said it had profit of 40 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 85 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.

The chemical company posted revenue of $2.34 billion in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $2.26 billion.

For the current quarter ending in June, Celanese expects its per-share earnings to range from $2 to $2.40.

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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

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