Celanese raises 2026 profit forecast, but Q3 sales miss estimates

Celanese (CE) said on Nov. 2 that third-quarter adjusted earnings per share were $1.65, topping the $1.61 consensus estimate compiled by Finnhub. Net sales of $2.56 billion missed the $2.7 billion consensus estimate, and the company raised its full-year adjusted earnings and free cash flow forecasts.

Adjusted earnings per share were up from $1.34 a year earlier, according to the company's results release.

Here's how the company did:

• Adjusted EPS: $1.65 vs. $1.34 a year earlier, against the $1.61 estimate
• Net sales: $2.56 billion vs. $2.42 billion a year earlier, against the $2.7 billion estimate
• U.S. GAAP diluted EPS from continuing operations: 68 cents, vs. a loss of $12.39 a year earlier
• Adjusted EBIT: $367 million vs. $326 million a year earlier
• Operating EBITDA: $548 million vs. $517 million a year earlier
• Free cash flow: $461 million vs. $375 million a year earlier

Net sales rose 6% from a year earlier. Sequentially, they fell 7%, which the company said reflected expected moderation from the second quarter.

Celanese President and Chief Executive Officer Scott Richardson said the quarter showed "continued progress across Celanese, with strong earnings performance and net sales growth."

Segment results

Engineered Materials net sales were $1.37 billion, down 1% from a year earlier. The company said the divested Micromax business accounted for 6 percent of that decline.

The segment's adjusted EBIT was $209 million, with margins supported by strong commercial execution and favorable product mix.

Acetyl Chain net sales were $1.21 billion, up 14% from a year earlier, with adjusted EBIT of $236 million.

2026 guidance

Celanese raised its full-year adjusted EPS forecast to $6.00 to $6.25, from the approximately $6.00 it gave on Aug. 4.

It also raised its free cash flow outlook to $750 million to $800 million, from the $700 million to $800 million range it gave on Aug. 4. The company expects to exit the year with net debt-to-operating EBITDA of approximately 4.7x.

Richardson said cash generation in the third quarter was strong. "By the end of 2026 we expect to have generated over $1.5 billion in free cash flow over the past two years," he said in the release.

Operating cash flow was $538 million in the quarter.

Other developments

The company agreed to sell an additional 19% of its Nutrinova food ingredients joint venture to Mitsui & Co., Ltd. for total cash proceeds of approximately $152 million. It will keep an 11% interest and expects the deal to close in the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions.

Celanese also entered a strategic partnership with VIGOR Precision Ltd. on lightweight plastic joint solutions for humanoid robots, and completed the closure of its acetate tow facility in Lanaken, Belgium.

The board added Luis Fernandez-Moreno in September 2026. He most recently served as interim president and chief executive officer of Ingevity Corporation.

An investor event is set for Dec. 9, 2026, at the company's technical center in Florence, Kentucky.