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BUZZ-Celanese falls on Q4 loss, dour Q1 outlook

Reuters
Feb 19, 2025
BUZZ-Celanese falls on Q4 loss, dour Q1 outlook

** Shares of chemical maker Celanese CE.N slide 17.7% to $57.66 premarket

** Co reports quarterly loss of $1.9 billion, or $17.45 per share, due to persistent destocking trends in key markets

** Reported profit of $701 million, or $6.43 per share, during the same period last year

** CE adds it would stop production and shut down its Mylar Specialty Films manufacturing operations in Luxembourg

** Brokerage Mizuho Securities cuts PT to $73 from $86; says CE's performance in the acetyl segment was weaker than its competitor LyondellBasell LYB.N

** CE forecasts a hit of $100 million from a combination of headwinds in Q1; expects Q1 profit of 25 cents per share to 50 cents per share vs estimates of $1.55 per share

** Stock fell over 55% in 2024

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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