Celanese Corp. (CE: Quote), a global technology and specialty materials company, reported its fourth quarter 2012 results. Net earnings available to shareholders remained flat at 95 million from last year. Profit per share was $0.59 compared to $0.60 last year. Net sales decreased to $1.501 billion from $1.614 billion last year. fourth-quarter 2012 adjusted earnings per share was $0.67.
Analysts polled by Thomson Reuters expected the company to report profit of $0.63 per share on revenue of $1.52 billion for the quarter. Analysts’ estimates typically exclude special items.
The company expects the challenging global economic environment to continue into 2013. Celanese expects full-year 2013 with adjusted earnings growth objectives of 12 to 14 percent to be modestly higher than the prior year. For 2013, Celanese expects earnings growth will be driven by Celanese-specific initiatives and be consistent with long-term growth objectives of 12 percent to 14 percent.
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by RTT Staff Writer
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