Celanese Corp. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Celanese Corp. (CE) reported earnings for third quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $116 million, or $1.06 per share. This compares with $951 million, or $8.69 per share, in last year's third quarter.

Excluding items, Celanese Corp. reported adjusted earnings of $267 million or $2.44 per share for the period.

Analysts on average had expected the company to earn $2.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.8% to $2.648 billion from $2.723 billion last year.

Celanese Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $116 Mln. vs. $951 Mln. last year. -EPS (Q3): $1.06 vs. $8.69 last year. -Revenue (Q3): $2.648 Bln vs. $2.723 Bln last year.