Celanese sees Q3 adjusted EPS $2.00-$2.50, consensus $3.05

“The current demand and competitive backdrop remains volatile and unpredictable,” said Lori Ryerkerk. “We are executing on incremental actions to position our commercial teams in a fluid sales environment, align our production and inventory levels with current demand, aggressively reduce costs, and maximize cash generation. We expect contributions from these actions will support strong 2023 cash generation and continued earnings growth across the second half.” Reflective of controllable actions and improvement in destocking conditions across the remainder of the year, the Company anticipates third quarter adjusted earnings per share of $2.00 to $2.50, inclusive of approximately $0.30 per share of M&M transaction amortization. Likewise, Celanese anticipates full year adjusted earnings per share of $9.00 to $10.00, inclusive of approximately $1.20 per share of M&M transaction amortization.