Chemical and advanced materials maker, Celanese Corporation CE, has announced a hike in the price of all its emulsions sold in Europe, the Middle East and Africa ("EMEA"). The rise in price will be effective Jun 1, 2015, or as contracts permit.
Prices of all vinyl acetate based emulsions, including vinyl acetate ethylene, vinyl acetate homopolymer and vinyl acetate copolymer emulsions, will be increased by €50 per metric ton. Also, prices of all full acrylic-based emulsions will be hiked by €50 per metric ton. Additionally, the prices of all styrene acrylic-based emulsions will be increased by €100 per metric ton.
This rise in prices involves all applications, including adhesives, paint and coatings, building and construction, nonwovens, glass fiber, carpet, paper and textiles.
Celanese recorded adjusted earnings of $1.72 per share in first-quarter 2015, up 29.3% from $1.33 per share reported in the year-ago quarter. Earnings from continued operations (as reported) came in at $1.53 per share in the first quarter of 2015, surging roughly 22.4% from $1.25 per share posted in the prior-year quarter. The results were backed by the company’s productivity actions. However, sales witnessed a year-over-year decline of roughly 15% to $1,450 million.
Celanese’s strong presence in emerging markets will enable it to deliver incremental earnings in 2015. Earnings are expected to be driven by company-specific initiatives, including product innovation and enhancement of efficiencies through productivity. The company expects its business strength to offset the volatility in the macro environment in 2015.
Celanese currently sports a Zacks Rank #1 (Strong Buy).
Other well-ranked stocks in the diversified chemical space include Stepan Company SCL, LyondellBasell Industries N.V. LYB and Trecora Resources TREC, all sporting a Zacks Rank #1.
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