Celanese ( (CE) ) has released its Q4 earnings. Here is a breakdown of the information Celanese presented to its investors.
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Celanese Corporation is a global leader in the chemical and specialty materials industry, known for its innovative chemical solutions across various sectors, including automotive, paints, and construction. Despite facing challenges in 2024, Celanese reported a full-year net sales of $10.3 billion, indicating a 6% decline from the previous year due to decreased prices and volumes. The company recorded a U.S. GAAP diluted loss per share of $13.86 and adjusted earnings per share of $8.37, with significant non-cash asset impairment charges impacting the GAAP results.
The fourth quarter of 2024 saw Celanese experiencing a 10% decline in net sales sequentially, attributed to decreased volumes and prices. The company faced persistent demand issues, particularly in the Western Hemisphere, affecting its Engineered Materials and Acetyl Chain segments. Despite these headwinds, Celanese focused on cost reduction and strategic realignment to mitigate the impact of the challenging market conditions.
Key financial highlights include a consolidated operating loss of $697 million, adjusted EBIT of $1.6 billion, and operating EBITDA of $2.4 billion for the year. Celanese also announced strategic initiatives such as exceeding a targeted $75 million in cost reductions and closing high-cost operations in Luxembourg. The company is leveraging its project pipeline model to focus on high-growth sectors like electric vehicles and energy storage.
Looking ahead, Celanese management anticipates continued demand challenges in the first quarter of 2025, with expectations of modest improvements in the following quarter. The company is committed to driving productivity and earnings growth despite the current market conditions, with a focus on cost reduction and strategic growth initiatives. Management remains hopeful about future recovery and value creation for its shareholders.
