Celanese falls on Q4 loss, dour Q1 outlook

Celanese

19/02/2025 14:11

** Shares of chemical maker Celanese  CE.N  slide 17.7% to
$57.66 premarket
    ** Co reports quarterly loss of $1.9 billion, or $17.45 per
share, due to persistent destocking trends in key markets
    ** Reported profit of $701 million, or $6.43 per share,
during the same period last year
    ** CE adds it would stop production and shut down its Mylar
Specialty Films manufacturing operations in Luxembourg
    ** Brokerage Mizuho Securities cuts PT to $73 from $86; says
CE's performance in the acetyl segment was weaker than its
competitor LyondellBasell  LYB.N 
    ** CE forecasts a hit of $100 million from a combination of
headwinds in Q1; expects Q1 profit of 25 cents per share to 50
cents per share vs estimates of $1.55 per share
    ** Stock fell over 55% in 2024

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))