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Pro-Trader Daily: Earnings Review and Free Research Report: Celanese' Revenue Jumped 12%; Reported Record Earnings for Q2

Research Desk Line-up: Praxair Post Earnings Coverage

LONDON, UK / ACCESSWIRE / July 31, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Celanese Corp. (NYSE: CE), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=CE, following the Company's announcement of its second quarter fiscal 2017 earnings results on July 24, 2017. The chemical Company surpassed top- and bottom-line expectations and also raised its adjusted earnings outlook for the fiscal year. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Chemicals - Major Diversified industry. Pro-TD has currently selected Praxair, Inc. (NYSE: PX) for due-diligence and potential coverage as the Company reported on July 27, 2017, its financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Praxair when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CE; also brushing on PX. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/'symbol=CE

http://protraderdaily.com/optin/'symbol=PX

Earnings Reviewed

For the quarter ended on June 30, 2017, Celanese reported revenue of $1.51 billion compared to revenue of $1.35 billion in Q2 2016. The Company's revenue number exceeded Wall Street's forecasts of $1.45 billion.

Celanese reported earnings of $231 million, or $1.72 per diluted share, for Q2 2017 compared with earnings of $221 million, or $1.50 per diluted share, in Q2 2016. The Company's earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.79 per share, with both the reported and adjusted earnings a second quarter record. Celanese's earnings numbers outperformed analysts' estimates of $1.74 per share.

During Q2 2017, Celanese commercialized a record 547 projects, a 63% increase from the same period last year in engineered materials (AEM excluding affiliates). The Company increased the target for projects closed in 2017 to above 2000, a 44% gain over 2016. Celanese completed the acquisition of the nylon compounding division of Nilit Group (Nilit), a major independent producer of high-performance nylon polymers and compounds. This acquisition enhanced Celanese's leadership position in Advanced Engineered Materials (AEM), enabling further success of the opportunity pipeline. The Company also confirmed that the Ibn Sina JV polyacetal (POM) facility in Jubail, Saudi Arabia is in the testing phase with production expected in Q3 2017.

Segment Results

During Q2 2017, Celanese's Materials Solutions reported record net sales of $709 million, reflecting an 18% improvement on a y-o-y basis with Advanced Engineered Materials more than offsetting the decline in Consumer Specialties. The segment's Advanced Engineered Materials generated record second quarter GAAP operating profit of $97 million and record second quarter segment's income of $142 million. The Materials Solutions reported operating profit of $146 million compared to $162 million in Q2 2016.

During Q2 2017, Celanese's Acetyl Chain reported revenue of $826 million compared to $780 million in Q2 2016. The segment's GAAP operating profit surged 26% to $135 million on a y-o-y basis, while its core income rose 19% to $132 million y-o-y. During the planned turnaround in Clear Lake, Texas, the business leveraged its global production and supply chain capabilities and established product swaps to ensure reliability of supply to key customers. The segment's GAAP operating margin of 16.3% and income margin of 16.0% were second quarter records.

Cash Flow

For Q2 2017, Celanese recorded operating cash flow of $298 million and free cash flow of $240 million. The Company's capital expenditures were $54 million in the reported quarter. In Q2 2017, Celanese returned a total of $237 million cash to shareholders through $172 million in share buy-backs and $65 million in dividends. The Company targets at least $500 million in shares repurchased in 2017.

Outlook

Celanese is expecting its Advanced Engineered Materials to generate outsized earnings growth propelled by a vibrant project pipeline and early success from integrating SO.F.TER. and Nilit. The Company estimates Acetyl Chain to drive earnings growth in H2 2017 by leveraging raw material volatility and higher volumes as Clear Lake returns to pre-turnaround capacity. Celanese stated that targeting productivity savings of approximately $100 million are on target for 2-17 supported by initiatives across the company. Buoyed by success in Q2 2017, the Company has raised its adjusted earnings growth forecast to 9%-11% for FY17.

Stock Performance

At the closing bell, on Friday, July 28, 2017, Celanese's stock rose 1.31%, ending the trading session at $94.58. A total volume of 1.29 million shares have exchanged hands, which was higher than the 3-month average volume of 940.36 thousand shares. The Company's stock price soared 8.66% in the last three months, 11.14% in the past six months, and 42.91% in the previous twelve months. Moreover, the stock surged 20.12% since the start of the year. The stock is trading at a PE ratio of 15.85 and has a dividend yield of 1.95%. The stock currently has a market cap of $13.11 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

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SOURCE: Pro-Trader Daily

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