Shares of Celanese Corp. (CE) tumbled nearly 13% in after-hours trading on Tuesday, following the company's disappointing earnings forecast for the fourth quarter.
The Texas-based chemical company is expected to report its Q4 2024 earnings results on Wednesday morning, and analysts are anticipating earnings of $1.20 per share, according to FactSet. However, Celanese's stock plummeted 12.95% in the post-market session, suggesting that the company's guidance may have fallen short of market expectations.
While the exact reasons behind the stock's sharp decline are not yet known, investors will be closely watching for any updates or commentary from Celanese management regarding the company's performance and outlook. Potential factors that could have contributed to the sell-off include weakening demand, rising costs, or any challenges in specific business segments.
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