Celanese Reaffirms Second Quarter Adjusted EPS at High End of Recalculated Guidance; Full Year 2005 Guidance to be Updated on August 9 Earnings Call; Adopt New Convention for Reporting Adjusted EPS.
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Celanese Reaffirms Second Quarter Adjusted EPS at High End of Recalculated Guidance; Full Year 2005 Guidance to be Updated on August 9 Earnings Call; Adopt New Convention for Reporting Adjusted EPS.
DALLAS -- Celanese Corporation (NYSE:CE) announced today that it expects its second quarter adjusted EPS to be at the high end of its guidance range based on strong business fundamentals. The company will update its full year 2005 guidance in light of the second quarter performance and expected market conditions on its August 9, 2005 earnings call. In an effort to simplify and make more transparent its financial information, the company also adopted a new convention for reporting adjusted earnings per share (EPS) and adjusted EBITDA.
"We are pleased with the results our associates delivered across all of our businesses," said David Weidman, chief executive officer. "Our integrated value chain allowed us to capture benefits from lower raw material cost, particularly ethylene and natural gas, and we continued to benefit from a favorable acetyl market." Celanese provid...See the full content of this document
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