Celanese Q1 2024 Adj EPS $2.08 Beats $1.91 Estimate, Sales $2.611B Miss $2.674B Estimate
Portfolio Pulse from Benzinga Newsdesk
Celanese (CE) reported Q1 2024 earnings of $2.08 per share, surpassing the $1.91 estimate. However, its sales of $2.611B fell short of the $2.674B estimate, marking an 8.48% decrease from the previous year.
May 08, 2024 | 8:16 pm
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Celanese reported higher-than-expected Q1 2024 earnings per share but missed sales estimates, with a notable year-over-year decrease.
While the earnings per share beat might positively impact investor sentiment, the miss on sales estimates and the significant year-over-year sales decrease could temper any potential stock price gains. The mixed results present a neutral outlook in the short term as investors weigh the better-than-expected earnings against the sales miss and year-over-year decline.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100