Celanese Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Celanese Corp. (CE) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $502 million, or $4.61 per share. This compares with $322 million, or $2.82 per share, in last year's first quarter.

Excluding items, Celanese Corp. reported adjusted earnings of $603 million or $5.54 per share for the period.

Analysts on average had expected the company to earn $4.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 41.1% to $2.54 billion from $1.80 billion last year.

Celanese Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $502 Mln. vs. $322 Mln. last year. -EPS (Q1): $4.61 vs. $2.82 last year. -Analyst Estimate: $4.52 -Revenue (Q1): $2.54 Bln vs. $1.80 Bln last year.

-Guidance: Next quarter EPS guidance: $4.50