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Celanese profit misses consensus by 31.7% in Q3

Celanese Corp. said its normalized net income for the third quarter amounted to $1.31 per share, compared with the S&P Capital IQ consensus estimate of $1.92 per share.

EPS rose 5.4% year over year from $1.24.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $179.3 million, compared with $179.6 million in the prior-year period.

The normalized profit margin fell to 11.4% from 13.6% in the year-earlier period.

Total revenue rose 18.4% year over year to $1.57 billion from $1.32 billion, and total operating expenses increased 22.9% from the prior-year period to $1.32 billion from $1.07 billion.

Reported net income decreased 13.1% from the prior-year period to $230.1 million, or $1.68 per share, from $264.6 million, or $1.83 per share.