Celanese Corp. Q1 Profit Decreases, but beats estimates

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

The company's earnings totaled $93 million, or $0.83 per share. This compares with $504 million, or $4.61 per share, in last year's first quarter.

Excluding items, Celanese Corp. reported adjusted earnings of $220 million or $2.01 per share for the period.

Analysts on average had expected the company to earn $1.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.2% to $2.85 billion from $2.54 billion last year.

Celanese Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $93 Mln. vs. $504 Mln. last year. -EPS (Q1): $0.83 vs. $4.61 last year. -Analyst Estimates: $1.64 -Revenue (Q1): $2.85 Bln vs. $2.54 Bln last year.