Sign in

Celanese (CE)

Celanese Corporation is a global chemical and specialty materials company that operates primarily through two business segments: Engineered Materials and the Acetyl Chain. The company develops and supplies high-performance specialty polymers for various applications, including automotive, medical, industrial, and consumer electronics . Additionally, Celanese produces intermediate chemistry and polymers that serve as starting materials for industries such as paints, adhesives, pharmaceuticals, and construction . The company's broad product portfolio caters to diverse end-use applications with a geographically balanced global customer base .

  1. Engineered Materials - Develops and supplies high-performance specialty polymers used in automotive, medical, industrial, and consumer electronics applications, managed through a project management pipeline focused on customer-specific solutions .
  2. Acetyl Chain - Includes intermediate chemistry, emulsion polymers, ethylene vinyl acetate polymers, redispersible powders, and acetate tow businesses, serving as starting materials for industries like paints, adhesives, pharmaceuticals, and construction, leveraging an integrated chain model to maximize value .

You might also like

NamePositionExternal RolesShort Bio

Ashley B. Duffie

Executive

Senior Vice President, General Counsel, and Corporate Secretary

None

Joined CE in 2007; held various legal and procurement roles; became General Counsel in November 2023.

Chuck B. Kyrish

Executive

Senior Vice President and Chief Financial Officer

None

Joined CE in 2006; held roles in finance, treasury, and investor relations; became CFO on November 8, 2023.

Mark C. Murray

Executive

Senior Vice President, Acetyls

None

Joined CE in 2002; held leadership roles in Acetyl Chain and Engineered Materials; became SVP, Acetyls in February 2023.

Scott A. Richardson

Executive

Chief Executive Officer and President

None

Joined CE in 2005; held various leadership roles, including CFO and COO; became CEO on January 1, 2025.

View Report →

Todd Elliott

Executive

Senior Vice President, Engineered Materials

None

Joined CE in 1987; held leadership roles in Acetyls and Engineered Materials; rejoined CE in February 2025 after consulting.

Bruce Chinn

Board

Director

Director at Waste Management, Trustee at AIChE Foundation

Former CEO of Chevron Phillips Chemical; joined CE Board in September 2024.

Christopher Kuehn

Board

Director

None

CFO of Trane Technologies; joined CE Board in January 2025.

David F. Hoffmeister

Board

Director

Director at Glaukos Corporation, ICU Medical Inc., StepStone Group Inc., and Kaiser Permanente

Former CFO of Life Technologies; joined CE Board in 2006.

Deborah J. Kissire

Board

Director

Director at Cable One, Omnicom Group, and Axalta Coating Systems

Former Vice Chair at Ernst & Young; joined CE Board in 2020.

Edward G. Galante

Board

Chair of the Board

Director at Clean Harbors, Marathon Petroleum, and Linde plc

Former SVP at Exxon Mobil; joined CE Board in 2013; became Chair on January 1, 2025.

Ganesh Moorthy

Board

Director

CEO of Microchip Technology; Director at Semiconductor Industry Association, Global Semiconductor Alliance, and Ayar Labs

CEO of Microchip Technology; joined CE Board in December 2023.

Jay V. Ihlenfeld

Board

Director

None

Former SVP at 3M; joined CE Board in 2012.

Kathryn M. Hill

Board

Director

Director at Moody’s Corporation and NetApp, Inc.

Former SVP at Cisco Systems; joined CE Board in 2015.

Kim K.W. Rucker

Board

Director

Director at HP Inc., Marathon Petroleum, and GE Vernova

Former EVP and General Counsel at Andeavor and Kraft Foods; joined CE Board in 2018.

Michael Koenig

Board

Director

CEO of Nobian Industrial Chemicals B.V.; Chair of Symrise AG

Former CEO of Elkem ASA and Bluestar Group; joined CE Board in 2022.

Scott Sutton

Board

Director

None

Former COO of CE and CEO of Olin Corporation; rejoined CE Board in March 2025.

Timothy Go

Board

Director

CEO of HF Sinclair; Member of UT Engineering Advisory Board and Ronald McDonald House of Dallas

CEO of HF Sinclair; joined CE Board in February 2024.

  1. Given your disappointing Q3 results and the outlook for Q4 and into 2025 being below expectations , what specific actions are you taking beyond cost reductions and production slowdowns to improve earnings and cash generation, and how will these actions address the persistent macroeconomic headwinds?

  2. You are committed to deleveraging the balance sheet to 3x net debt to EBITDA as fast as possible and have announced your intention to reduce the dividend starting in Q1 2025 ; can you provide a detailed plan on how you will achieve this deleveraging target, especially if the macroeconomic environment remains challenging?

  3. With Chinese VAM margins at a decade low due to lackluster demand and new capacity , how realistic is it to expect the Singapore acetic acid plant to come back online without a significant recovery in China, and what is your strategy to manage the overcapacity in the acetyls market?

  4. The Engineered Materials segment is facing headwinds, and you've noted that the volume per project in your pipeline is smaller and not sufficient to offset base declines ; what specific steps are you taking to supercharge the pipeline, and how will this help counteract the challenges in volume and pricing?

  5. Regarding the Clear Lake facility, which is expected to deliver $100 million in annual benefits but has only contributed $10 million in Q1 and $20 million in Q3 , what are the reasons for the slower-than-expected ramp-up, and how confident are you that the remaining benefits will be realized as anticipated?

Research analysts who have asked questions during Celanese earnings calls.

Aleksey Yefremov

KeyBanc Capital Markets

6 questions for CE

Also covers: ALB, ALTM, AXTA +14 more

Arun Viswanathan

RBC Capital Markets

6 questions for CE

Also covers: ALB, AMBP, AMCR +22 more

Ghansham Panjabi

Robert W. Baird & Co.

6 questions for CE

Also covers: AMCR, ATR, AVNT +20 more

Hassan Ahmed

Alembic Global Advisors

6 questions for CE

Also covers: CC, DOW, HUN +7 more

Jeffrey Zekauskas

JPMorgan Chase & Co.

6 questions for CE

Also covers: ALB, APD, ASH +29 more

John Ezekiel Roberts

Mizuho Securities

6 questions for CE

Also covers: ALB, APD, ASH +21 more

Michael Sison

Wells Fargo

6 questions for CE

Also covers: ALB, APD, ASH +15 more

Patrick Cunningham

Citigroup

6 questions for CE

Also covers: ALB, APD, AXTA +17 more

Salvator Tiano

Bank of America

6 questions for CE

Also covers: ADM, BG, EMN +5 more

Vincent Andrews

Morgan Stanley

6 questions for CE

Also covers: ALB, AVNT, AXTA +19 more

David Begleiter

Deutsche Bank

5 questions for CE

Also covers: ALB, APD, ASH +24 more

Frank Mitsch

Fermium Research

5 questions for CE

Also covers: AVNT, CTVA, DD +12 more

Joshua Spector

UBS

5 questions for CE

Also covers: ALB, AMBP, APD +36 more

Matthew Blair

Tudor, Pickering, Holt & Co.

5 questions for CE

Also covers: AMTX, CLNE, CVI +19 more

Kevin McCarthy

Vertical Research Partners

3 questions for CE

Also covers: ALB, ALTM, APD +17 more

Laurence Alexander

Jefferies

2 questions for CE

Also covers: AIQUY, ALB, APD +25 more

Aziza Gazieva

Fermium Research

1 question for CE

Also covers: AVNT, TROX, WLK

James Cannon

UBS Securities

1 question for CE

Also covers: EMN, ESI, GLW +3 more

John McNulty

BMO Capital Markets

1 question for CE

Also covers: APD, ASH, AVY +14 more

Michael Leithead

Barclays

1 question for CE

Also covers: AMBP, APD, AVY +15 more
Program DetailsProgram 1
Approval DateN/A
End Date/DurationN/A
Total additional amount$6.9 billion
Remaining authorization amount$1.1 billion
DetailsThe program is authorized by the Board of Directors and gives management discretion in determining the timing and conditions under which shares may be repurchased. The purpose is to reduce the number of shares outstanding for compensation programs and other corporate purposes. The program does not have an expiration date.
YearAmount Due (in $ millions)Debt TypeInterest Rate (%)% of Total Debt
20251,3361.250% Senior Notes + 6.050% Senior Notes1.250, 6.05010.4% = (1,336 / 12,931) * 100
20261,5201.400% Senior Notes + 4.777% Senior Notes1.400, 4.77711.8% = (1,520 / 12,931) * 100
20273,4392.125% Senior Notes + 6.165% Senior Notes + Term Loan2.125, 6.165, 6.71826.6% = (3,439 / 12,931) * 100
20281,5590.625% Senior Notes + 6.350% Senior Notes0.625, 6.35012.1% = (1,559 / 12,931) * 100
20291,3105.337% Senior Notes + 6.330% Senior Notes5.337, 6.33010.1% = (1,310 / 12,931) * 100
20301,4366.550% Senior Notes + Pollution Control Bonds6.550, 4.1-5.011.1% = (1,436 / 12,931) * 100
20321,0006.379% Senior Notes6.3797.7% = (1,000 / 12,931) * 100
20331,0006.700% Senior Notes6.7007.7% = (1,000 / 12,931) * 100
2054159Obligations under Finance LeasesN/A1.2% = (159 / 12,931) * 100

Competitors mentioned in the company's latest 10K filing.

CompanyDescription

Anhui Jinhe Industrial Co., Ltd.

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

Ascend Performance Materials LLC

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

BASF SE

This company is listed as a principal competitor in both the Engineered Materials and Acetyl Chain segments, which include products such as nylon compounds, high temperature nylons, acetic acid, and vinyl acetate monomer.

Daicel Corporation

This company is listed as a principal competitor in both the Engineered Materials and Acetyl Chain segments, which include products such as nylon compounds, high temperature nylons, acetic acid, and vinyl acetate monomer.

DOMO Chemicals

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

Kingfa Science and Technology

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

Korea Petrochemical Ind. Co, Ltd (KPIC)

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

Envalior GmbH

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

SABIC Innovative Plastics

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

This company is listed as a principal competitor in the Engineered Materials segment, which includes products such as nylon compounds, high temperature nylons, and polyoxymethylene, among others.

Arkema

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Cerdia

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Chang Chun Petrochemical Co., Ltd.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Dairen Chemical Corporation

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Huayi Chemical Co., Ltd.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

INEOS

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Jiangsu Sopo (Group) Co., Ltd.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Kuraray Co., Ltd.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Nippon Gohsei

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Showa Denko K.K.

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Sipchem

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

Wacker Chemie AG

This company is listed as a principal competitor in the Acetyl Chain segment, which includes products such as acetic acid, vinyl acetate monomer, and ethylene vinyl acetate resins.

NameStart DateEnd DateReason for Change
KPMG LLP2004 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Mobility & Materials (M&M) Business of DuPont

2022

Celanese completed its acquisition of DuPont’s M&M Business for $11.0 billion in cash, financed with a mix of USD and euro-denominated notes; the deal, closed on November 1, 2022, added engineered thermoplastics, elastomers, key IP, and global production assets, and is expected to deliver $450 million in synergies.

Santoprene™ Thermoplastic Vulcanizates (TPV) Business

2021

Celanese acquired ExxonMobil’s TPV business for $1.15 billion in an all-cash, debt-free transaction, securing world-class production facilities, critical trademarks, and a valuable IP portfolio; this strategic move is projected to generate >$35 million in annual synergies and strengthen its Engineered Materials segment.

Recent press releases and 8-K filings for CE.

Celanese drops 13% amid fresh inventory destocking disclosure
·$CE
Profit Warning
Legal Proceedings
Demand Weakening
  • On August 12, 2025, Celanese shares plummeted 13% after reporting Q2 2025 results marked by ongoing inventory destocking issues.
  • Hagens Berman has opened an investigation into whether Celanese misled investors about its sales practices, inventory reporting, and growth prospects in the Engineered Materials segment.
  • This follows earlier destocking disclosures, including a 54% decline in net cash from operations in Q3 2024 and warnings in Q4/FY 2024 and Q1 2025.
  • Investors with losses or non-public information are urged to join the probe or utilize the SEC Whistleblower program.
5 days ago
Celanese faces investor class action probe
·$CE
Legal Proceedings
Earnings
Demand Weakening
  • Pomerantz LLP is investigating whether Celanese and certain officers/directors engaged in securities fraud or other unlawful practices on behalf of investors.
  • Celanese’s Q3 2024 adjusted EPS of $2.44 and revenue of $2.65 billion missed estimates; the company warned of worsening demand, and its stock fell 26.32% to $91.00 on Nov 5, 2024.
  • In Q4 and full-year 2024, Celanese reported a GAAP loss per share of $13.86, adjusted EPS of $8.37, and $10.3 billion in net sales (down 6%); its stock fell 21.46% to $54.91 on Feb 19, 2025.
  • After reporting another quarter of soft volumes in its Engineered Materials segment on Aug 11, 2025, Celanese’s share price declined 13.07% to $41.22 on Aug 12, 2025.
7 days ago
Celanese drops 13% after inventory destocking disclosure
·$CE
Demand Weakening
Legal Proceedings
  • On August 12, 2025, Celanese shares fell $6.20 (-13%) after its Q2 2025 results highlighted ongoing inventory destocking issues.
  • Hagens Berman has opened an investigation into whether Celanese misled investors about its sales practices, inventory reporting, and growth outlook in the Engineered Materials segment.
  • The destocking trend has driven prior earnings-driven sell-offs: Q3 2024 net cash from operations plunged 54%, prompting a 26% share drop; subsequent quarters Q4 2024, Q1 2025, and Q2 2025 also saw sharp declines tied to inventory reductions.
  • The firm invites investors with losses and potential whistleblowers to submit information under the SEC Whistleblower program.
Sep 11, 2025, 8:47 PM
Celanese Focuses on Strategic Initiatives at Global Industrials Conference
·$CE
Guidance Update
CEO Change
  • New CEO Scott Richardson highlighted a focus on driving incremental EPS, free cash flow generation, and deleveraging the balance sheet, with Q2 EPS guidance of $1.3 to $1.5.
  • The company announced enhanced cost savings measures by raising the target to $120M and outlined active asset divestiture plans, including strong global interest in the MicroMax process.
  • Emphasis was placed on maintaining operational discipline with a stable CapEx guidance of $300M to $350M and initiatives to reduce working capital.
Jun 5, 2025, 10:36 PM
Celanese Approves Charter Amendments and Eliminates Convertible Preferred Stock
·$CE
Proxy Vote Outcomes
Convertible Preferred Issuance
  • Celanese Corp filed an 8-K on May 16, 2025, detailing board-approved charter and by-laws amendments following its 2025 Annual Meeting, including the elimination of supermajority voting requirements.
  • The company approved the elimination of its 4.25% Convertible Perpetual Preferred Stock, reflecting an update to its capital structure.
  • The filing also includes a restated Certificate of Incorporation that revises stock capitalization and conversion procedures, such as converting Series A shares to Common Stock.
May 16, 2025, 12:00 AM
Celanese Q1 2025 Earnings Call Update
·$CE
Earnings
Demand Weakening
Guidance Update
  • Nylon 66 challenges remain a significant earnings headwind, prompting focused capacity rationalization, pricing initiatives, and cost improvements to stabilize margins.
  • The company emphasized robust cash generation, targeting $700–800 million in free cash flow through inventory reduction, lower maintenance capex, and improved working capital management amid demand uncertainties.
  • Ongoing self-help actions in the Engineered Materials segment are aimed at restoring long-term earnings power and volume growth, as management remains cautious about near-term demand volatility.
May 6, 2025, 1:01 PM
Celanese Reports Q1 2025 Earnings Results & Prepared Comments
·$CE
Earnings
Debt Issuance
Dividends
  • Celanese reported Q1 2025 net sales of approximately $2.4 billion, with a U.S. GAAP diluted loss per share of $0.15 and adjusted EPS of $0.57, delivering a consolidated operating profit of $168 million and an adjusted EBIT of $234 million.
  • Strategic initiatives included completing note transactions totaling approximately $2.6 billion to improve the debt profile and raising the cost reduction target to $120 million.
  • The Acetyl Chain segment experienced dividend payment delays due to changes in Chinese law, highlighting regional market challenges.
  • Celanese released its Q1 2025 prepared earnings comments via Business Wire and posted them on its investor website, outlining quarterly results and key forward-looking statements.
  • Management noted the use of non-GAAP financial measures with reconciliations to GAAP metrics and scheduled further discussion and Q&A during a conference call the following morning.
May 5, 2025, 12:00 AM
Celanese Announces Pricing for Senior Note Tender Offers
·$CE
Debt Issuance
  • Celanese Corp announced cash tender offers for its 4.777% Senior Notes due 2026 and 6.415% Senior Notes due 2027, with series caps of €552,082,000 and $500,000,000 respectively.
  • The offers feature an early tender payment of €50 per €1,000 and $50 per $1,000 principal, resulting in total consideration amounts of €1,026.68 and $1,031.10 per unit, with revised interest rates effective from the next payment date.
  • The settlement for the tendered notes is expected on March 21, 2025, subject to the conditions detailed in the Offer to Purchase.
Mar 19, 2025, 6:13 PM
Celanese Announces Upsized Tender Offers for Senior Notes
·$CE
Debt Issuance
  • Celanese US Holdings LLC is executing tender offers to purchase validly tendered notes for €552,082,000 of 4.777% Senior Notes due 2026 and $500,000,000 of 6.415% Senior Notes due 2027, representing an increase from the initial Series Cap.
  • Early results indicate full subscription, with $1,354,646,000 of USD Notes tendered and a pro rata purchase factor of 36.40% applied for the USD Notes.
  • The pricing will be determined using a mix of fixed spreads and a reference yield, with settlement expected on March 21, 2025.
Mar 19, 2025, 2:51 AM
Celanese Upsizes Cash Tender Offers for Senior Notes
·$CE
Debt Issuance
  • Celanese announced the early results and an upsize of its cash tender offers to purchase up to €552,082,000 of 4.777% Senior Notes due 2026 and up to $500,000,000 of 6.415% Senior Notes due 2027.
  • The company confirmed that all validly tendered notes before the Early Tender Time were accepted, with payments scheduled for March 21, 2025, and reiterated that the terms remain consistent with the previously issued Offer to Purchase.
Mar 19, 2025, 12:00 AM