Celanese Corporation (CE) reports a disappointing performance in Q2 2024 Earnings, with GAAP EPS of $1.42 missing the estimates, and sales also falling short of estimates. The company subsequently lowered its 2024 earnings forecast, leading to a drop of over 5% in share prices. However, multiple investment firms, including Tidal Investments, Janus Henderson Group, and Swedbank AB, have increased their stakes in the Celanese stock, signaling a potential future pick-up. Despite the setback, Celanese also reported incremental revenue growth in its Q1 earnings. The company is facing supply disruptions, declaring force majeure and it's trying to mitigate with strategic partnerships and innovations in sustainable fibers. Importantly,
CEO intends to present the Q2 2024 financial results, perhaps indicating strategic plans ahead amidst a challenging market climate where the company's stock often underperforms market averages. Yet, the dividend payout continues to attract the investors driving long-term value.
Celanese Corporation CE News Analytics from Wed, 27 Dec 2023 08:00:00 GMT to Sun, 04 Aug 2024 11:59:30 GMT -
Rating -6
- Innovation -2
- Information 4
- Rumor -5
