Celanese sees demand conditions worsening in Q4

“We expect demand conditions to worsen in the fourth quarter, as automotive and industrial segments react to recent dynamics by seasonally destocking at heavier than normal levels. While we expect this destocking to be temporary and contained to the quarter, we will significantly slow our production to match this demand level and to generate cash through inventory draw. Based on these factors, we anticipate fourth quarter adjusted earnings per share of approximately $1.25,” said Lori Ryerkerk. “We hold ourselves to a high standard at Celanese (CE), and are taking additional actions to strengthen our company. Our focus is on driving business improvement through earnings growth, cost reductions, free cash flow expansion, and deleveraging to position Celanese for long-term shareholder value creation.”