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Celanese Q1 profit climbs 14.0% YOY

Celanese Corp. said its normalized net income for the first quarter amounted to $1.28 per share, compared with the S&P Capital IQ consensus estimate of $1.31 per share.

EPS rose 16.1% year over year from $1.10.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $197.0 million, an increase of 14.0% from $172.9 million in the year-earlier period.

The normalized profit margin rose to 13.6% from 10.1% in the year-earlier period.

Total revenue fell 15.0% on an annual basis to $1.45 billion from $1.71 billion, and total operating expenses declined 18.4% year over year to $1.19 billion from $1.46 billion.

Reported net income increased 20.1% from the prior-year period to $235.5 million, or $1.53 per share, from $196.0 million, or $1.25 per share.