Celanese Corp. Q3 Profit Increases, beats estimates

(RTTNews) - Celanese Corp. (CE) revealed a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $951 million, or $8.69 per share. This compares with $191 million, or $1.75 per share, in last year's third quarter.

Excluding items, Celanese Corp. reported adjusted earnings of $2.50 per share for the period.

Analysts on average had expected the company to earn $2.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.3% to $2.72 billion from $2.30 billion last year.

Celanese Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $951 Mln. vs. $191 Mln. last year. -EPS (Q3): $8.69 vs. $1.75 last year. -Analyst Estimate: $2.23 -Revenue (Q3): $2.72 Bln vs. $2.30 Bln last year.

-Guidance: Next quarter EPS guidance: $2.10 to $2.50