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 .
- 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 .
- 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 .
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| Name | Position | External Roles | Short 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. |
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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?
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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?
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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?
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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?
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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
Arun Viswanathan
RBC Capital Markets
6 questions for CE
Ghansham Panjabi
Robert W. Baird & Co.
6 questions for CE
Hassan Ahmed
Alembic Global Advisors
6 questions for CE
Jeffrey Zekauskas
JPMorgan Chase & Co.
6 questions for CE
John Ezekiel Roberts
Mizuho Securities
6 questions for CE
Michael Sison
Wells Fargo
6 questions for CE
Patrick Cunningham
Citigroup
6 questions for CE
Salvator Tiano
Bank of America
6 questions for CE
Vincent Andrews
Morgan Stanley
6 questions for CE
David Begleiter
Deutsche Bank
5 questions for CE
Frank Mitsch
Fermium Research
5 questions for CE
Joshua Spector
UBS
5 questions for CE
Matthew Blair
Tudor, Pickering, Holt & Co.
5 questions for CE
Kevin McCarthy
Vertical Research Partners
3 questions for CE
Laurence Alexander
Jefferies
2 questions for CE
Aziza Gazieva
Fermium Research
1 question for CE
James Cannon
UBS Securities
1 question for CE
John McNulty
BMO Capital Markets
1 question for CE
Michael Leithead
Barclays
1 question for CE
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
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. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
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.
- Pomerantz LLP launched an investigation into Celanese and certain officers/directors for potential securities fraud and other unlawful business practices following significant stock declines.
- After reporting Q3 2024 results of $2.44 adjusted EPS (vs. $2.84 consensus) and $2.65 B revenue (vs. $2.69 B consensus), shares plunged 26.3% on Nov 5, 2024.
- Disclosure of full-year 2024 figures—$13.86 GAAP loss per share, $8.37 adjusted EPS, and $10.3 B net sales (–6% YoY)—drove a 21.5% drop on Feb 19, 2025.
- On Aug 11, 2025, warnings of continued demand weakness in Engineered Materials triggered another 13.1% share decline.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.