Home / Knowledge / News / Textiles / Celanese Q3 EPS up 24 cents from prior quarter
Celanese Q3 EPS up 24 cents from prior quarter
29
Oct '13
Celanese Corporation, a global technology and specialty materials company, reported third quarter 2013 adjusted earnings per share of $1.20 versus $1.12 in the prior quarter.

Third quarter 2013 financial highlights:

- Adjusted earnings per share of $1.20, up $0.08 from the prior quarter

- Adjusted EBIT margin of 17.1 percent, up 110 basis points from the prior quarter

- Deployed $96 million of cash, repurchasing approximately 2 million shares at an average price of $48.74

- Cash on hand consistent with prior quarter at $1.1 billion

- GAAP earnings per share of $1.07, up $0.24 from the prior quarter

Third Quarter Business Segment Overview

Advanced Engineered Materials

Advanced Engineered Materials' third quarter segment income margin decreased sequentially to 23.4 percent, on segment income of $81 million. The 100 basis point decrease in segment income margin was primarily due to the impact of turnaround activity at the company's Middle East affiliate, which resulted in approximately $15 million of lower affiliate earnings, on a sequential basis.

Operating profit, which excludes affiliate earnings, increased to $48 million from $39 million in the prior quarter demonstrating the continued success of the company's engineered materials business in penetrating the automotive space with its highly engineered polymers.

Volumes were down 2 percent in the quarter, despite lower sequential auto builds in Europe and the United States of 13 percent and 9 percent, respectively. An improved mix of higher-value medical applications, lower raw material costs and focused spending initiatives contributed to the increase in operating profit this quarter.

Click here to view full results

Celanese


Must ReadView All

AAFA hails passage of Miscellaneous Tariff Bill in US House

Apparel/Garments | On 24th Jan 2018

AAFA hails passage of Miscellaneous Tariff Bill in US House

The American Apparel & Footwear Association (AAFA) has applauded the...

India’s yarn, fabrics, made-ups imports rise 20% in Dec

Textiles | On 24th Jan 2018

India’s yarn, fabrics, made-ups imports rise 20% in Dec

India’s imports of yarn, fabrics and made-up articles during December ...

India’s Liberty Shoes plans adding 50 stores by 2019

Apparel/Garments | On 24th Jan 2018

India’s Liberty Shoes plans adding 50 stores by 2019

Indian footwear major Liberty Shoes is preparing to open about 50...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Urmil Arya

Sushila International, a well established textile organisation established ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search