Celanese reports Q2 adjusted EPS $2.38, consensus $2.71

Reports Q2 revenue $2.7B, consensus $2.75B. “In the second quarter, we delivered a double-digit sequential expansion of adjusted EBIT in spite of some of the most severe external challenges we’ve faced in many years,” said Lori Ryerkerk, chair and chief executive officer. “The prolonged weak demand environment we have continued to experience over the past several quarters was compounded by multiple supplier failures that led us to declare force majeure for acetic acid and VAM sold in the Western Hemisphere. In this environment, we stayed focused on delivering on our action plan, which resulted in the highest ever contribution from the Engineered Materials business in our history. This highlights the importance of our execution focus, and I thank our teams for their resilience and agility to achieve these results.”