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Article: Celanese Beats Zacks Estimate - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- November 3, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Celanese Beats Zacks Estimate - Analyst Blog
Celanese Corporation
(
CE
), a leading global chemical company, reported net earnings of 58 cents per share in the third quarter of 2009, beating the Zacks Consensus Estimate of 42 cents. Results, however, were lower than last year’s 78 cents.
Weak pricing and lower volumes, especially for Acetyl Intermediates and Industrial Specialties products on weak global demand led to net sales of $1.3 billion in the quarter, down 28% from the same period last year. The Acetyl Intermediates segment primarily serves customers in the chemical, paint and adhesives industries.
Consumer Specialties
: Net sales slid 8% to $271 million ...