Celanese Corp. Q3 Profit Decreases, misses estimates

(RTTNews) - Celanese Corp. (CE) reported a profit for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $191 million, or $1.75 per share. This compares with $506 million, or $4.56 per share, in last year's third quarter.

Excluding items, Celanese Corp. reported adjusted earnings of $430 million or $3.94 per share for the period.

Analysts on average had expected the company to earn $3.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.3% to $2.30 billion from $2.27 billion last year.

Celanese Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $191 Mln. vs. $506 Mln. last year. -EPS (Q3): $1.75 vs. $4.56 last year. -Analyst Estimates: $3.98 -Revenue (Q3): $2.30 Bln vs. $2.27 Bln last year.

-Guidance: Next quarter EPS guidance: $1.50 to $2.00