Celanese Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Celanese Corp. (CE) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $124 million, or $1.10 per share. This compares with $93 million, or $0.83 per share, in last year's first quarter.

Excluding items, Celanese Corp. reported adjusted earnings of $2.08 per share for the period.

Analysts on average had expected the company to earn $1.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.4% to $2.61 billion from $2.85 billion last year.

Celanese Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $124 Mln. vs. $93 Mln. last year. -EPS (Q1): $1.10 vs. $0.83 last year. -Revenue (Q1): $2.61 Bln vs. $2.85 Bln last year.