Celanese Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Celanese Corp. has submitted its Q1 2024 10-Q filing, detailing financial performance and operational information.</b>

AI Summary

Celanese Corp (CE) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Celanese Corp. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year 2024. The company's principal business is Plastic Material, Synthetic Resin, and Rubber (excluding glass). The filing includes financial data and disclosures for the period. The company is incorporated in Delaware and has its principal business address in Irving, Texas.

Why It Matters

For investors and stakeholders tracking Celanese Corp, this filing contains several important signals. This 10-Q provides investors with the latest financial results and operational updates for Celanese Corp. in Q1 2024, crucial for assessing the company's current health and future prospects. Understanding the details within this filing is essential for stakeholders to make informed investment decisions regarding Celanese Corp.'s stock (CE).

Risk Assessment

Risk Level: low — Celanese Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical disclosures, indicating a low level of immediate risk.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue drivers and cost structures for Q1 2024.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-10 — Filing Date (Filed As Of Date)
• 2024-01-01 — Quarter Start Date (Reporting period)
• 2023-01-01 — Prior Year Quarter Start Date (Comparative period)

Key Players & Entities

• Celanese Corp. (company) — Filer and subject of the report
• 2024-03-31 (date) — Conformed period of report
• 2024-05-10 (date) — Filed as of date
• 2820 (other) — Standard Industrial Classification code
• DE (other) — State of incorporation
• 972-443-4000 (other) — Business phone number

FAQ

Industry Context

Celanese Corp. operates in the chemical industry, specifically focusing on plastic materials, synthetic resins, and rubber. This sector is influenced by global economic conditions, raw material costs, and demand from various end-use markets.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and EPS trends compared to prior periods.
2. Examine the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Review any new risk factors or legal proceedings disclosed in the filing.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing the initial quarterly financial data for the year.

Key Financial Figures

• $0.0001 — ich Registered Common Stock, par value $0.0001 per share CE The New York Stock Exchang

Filing Documents

• ce-20240331.htm (10-Q) — 1423KB
• ex1033312410q.htm (EX-10.3) — 137KB
• ex1043312410q.htm (EX-10.4) — 138KB
• ex1053312410q.htm (EX-10.5) — 88KB
• ex1063312410q.htm (EX-10.6) — 89KB
• ex31103302410-q.htm (EX-31.1) — 11KB
• ex31203302410-q.htm (EX-31.2) — 11KB
• ex32103302410-q.htm (EX-32.1) — 6KB
• ex32203302410-q.htm (EX-32.2) — 6KB
• ce-20240331_g1.jpg (GRAPHIC) — 32KB
• celogo.jpg (GRAPHIC) — 32KB
• celogoa.jpg (GRAPHIC) — 32KB
• celogob.jpg (GRAPHIC) — 32KB
• 0001306830-24-000098.txt (&nbsp;) — 10004KB
• ce-20240331.xsd (EX-101.SCH) — 60KB
• ce-20240331_cal.xml (EX-101.CAL) — 104KB
• ce-20240331_def.xml (EX-101.DEF) — 335KB
• ce-20240331_lab.xml (EX-101.LAB) — 764KB
• ce-20240331_pre.xml (EX-101.PRE) — 576KB
• ce-20240331_htm.xml (XML) — 1466KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 a) Unaudited Interim Consolidated Statements of Operations for the three months ended March 3 1 , 202 4 and 20 23 3 b) Unaudited Interim Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 3 1 , 202 4 and 20 23 4 c) Unaudited Consolidated Balance Sheets as of M ar ch 3 1 , 202 4 and December 31, 20 23 5 d) Unaudited Interim Consolidated Statements of Equity for the three months ended M arch 3 1 , 202 4 and 20 23 6 e) Unaudited Interim Consolidated Statements of Cash Flows for the three month s ended March 3 1 , 202 4 and 20 23 7 f) Notes to the Unaudited Interim Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 44 Item 4.

Controls and Procedures

Controls and Procedures 45

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 46 Item 1A.

Risk Factors

Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 47

Signatures

Signatures 49 2 Table of Contents

Financial Statements

Item 1. Financial Statements CELANESE CORPORATION AND SUBSIDIARIES UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31, 2024 2023 (In $ millions, except share and per share data) Net sales 2,611 2,853 Cost of sales ( 2,057 ) ( 2,222 ) Gross profit 554 631 Selling, general and administrative expenses ( 265 ) ( 285 ) Amortization of intangible assets ( 41 ) ( 41 ) Research and development expenses ( 34 ) ( 42 ) Other (charges) gains, net ( 14 ) ( 23 ) Foreign exchange gain (loss), net 11 6 Gain (loss) on disposition of businesses and assets, net ( 1 ) 5 Operating profit (loss) 210 251 Equity in net earnings (loss) of affiliates 55 15 Non-operating pension and other postretirement employee benefit (expense) income 2 1 Interest expense ( 169 ) ( 182 ) Interest income 13 8 Dividend income - equity investments 34 34 Other income (expense), net 12 ( 6 ) Earnings (loss) from continuing operations before tax 157 121 Income tax (provision) benefit ( 33 ) ( 25 ) Earnings (loss) from continuing operations 124 96 Earnings (loss) from operation of discontinued operations — ( 3 ) Income tax (provision) benefit from discontinued operations — — Earnings (loss) from discontinued operations — ( 3 ) Net earnings (loss) 124 93 Net (earnings) loss attributable to noncontrolling interests ( 3 ) ( 2 ) Net earnings (loss) attributable to Celanese Corporation 121 91 Amounts attributable to Celanese Corporation Earnings (loss) from continuing operations 121 94 Earnings (loss) from discontinued operations — ( 3 ) Net earnings (loss) 121 91 Earnings (loss) per common share - basic Continuing operations 1.11 0.87 Discontinued operations — ( 0.03 ) Net earnings (loss) - basic 1.11 0.84 Earnings (loss) per common share - diluted Continuing operations 1.10 0.86 Discontinued operations — ( 0.03 ) Net earnings (loss) - diluted 1.10 0.83 Weighted average shares - basic 109,069,060 108,634,068 Weighted average shares - dilu

View Full Filing

View this 10-Q filing on SEC EDGAR