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Celanese profit misses consensus by 24.2% in Q1

Celanese Corp. said its normalized net income for the first quarter amounted to $1.30 per share, compared with the S&P Capital IQ consensus estimate of $1.72 per share.

EPS fell year over year from $1.36.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $184.0 million, a decrease of 8.5% from $201.1 million in the prior-year period.

The normalized profit margin fell to 12.5% from 14.3% in the year-earlier period.

Total revenue grew year over year to $1.47 billion from $1.40 billion, and total operating expenses climbed 9.7% year over year to $1.22 billion from $1.11 billion.

Reported net income decreased 28.5% from the prior-year period to $183.3 million, or $1.30 per share, from $256.3 million, or $1.73 per share.