Celanese Corp. Q2 Profit Decreases, but beats estimates

(RTTNews) - Celanese Corp. (CE) released a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $434 million, or $3.98 per share. This compares with $538M, or $4.77 per share, in last year's second quarter.

Excluding items, Celanese Corp. reported adjusted earnings of $544M or $4.99 per share for the period.

Analysts on average had expected the company to earn $4.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.2% to $2.49 billion from $2.20 billion last year.

Celanese Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $434 Mln. vs. $538M. last year. -EPS (Q2): $3.98 vs. $4.77 last year. -Analyst Estimates: $4.56 -Revenue (Q2): $2.49 Bln vs. $2.20 Bln last year.

-Guidance: Next quarter EPS guidance: $4.00 to $4.50