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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.