Celanese (0HUR) AI Stock Analysis

Company Guidance

Celanese said it is confident in $700 million to $800 million of free cash flow next year, with no need to increase CapEx, restructuring cash outlays expected to decline by $30 million to $40 million next year, and capital expected to fall between the $300 million and $350 million range; Lanaken savings will provide about a third in 2026 and the other 2-thirds rolling into next year. Electronics and medical still see tailwind going into next year and are expected to continue into 2027, while EM affiliates are expected to be pretty flat on a year-over-year basis, on an adjusted basis; adjusted for Micromax, EBITDA is approximately 20% or so on a year over year basis versus 2025, or up about 15% including Micromax. Fourth-quarter guidance includes between about a 6% to 7% volume decline in Engineered Materials and usually about a $25 million plus minus decline in the Acetyl Chain from Q3 into Q4, with margins embedded in the guide; if margins and pricing hold, there could be some upside as we exit the quarter. For 2027, Celanese expects $30 million to $40 million of additional cost savings, functional cost to normalize somewhat by $20 million or so, interest expense savings of $40 million on a net basis, and $150 million of gross productivity to offset inflation, while remaining divestiture proceeds are expected to be $340 million of additional divestiture proceeds by the end of 2027.