Celanese CE reported its Q1 earnings results on Tuesday, May 9, 2023 at 04:30 PM.
Here's what investors need to know about the announcement.
Earnings
Celanese beat estimated earnings by 22.56%, reporting an EPS of $2.01 versus an estimate of $1.64.
Revenue was up $315.00 million from the same period last year.
Past Earnings Performance
Last quarter the company missed on EPS by $0.22 which was followed by a 2.56% increase in the share price the next day.
Here's a look at Celanese's past performance:
Quarter | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
---|---|---|---|---|
EPS Estimate | 1.66 | 3.99 | 4.56 | 4.51 |
EPS Actual | 1.44 | 3.94 | 4.99 | 5.54 |
Revenue Estimate | 2.40B | 2.25B | 2.38B | 2.26B |
Revenue Actual | 2.35B | 2.30B | 2.49B | 2.54B |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Celanese management provided guidance for Q2 2023, expecting earnings between $2.5 and $2.5 per share.
To track all earnings releases for Celanese visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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