Celanese Corp. Files 10-Q for Q2 2024

TL;DR

**Celanese Corp. 10-Q filed: Q2 2024 financials out, check for performance details.**

AI Summary

Celanese Corp. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Key financial data points such as revenue, net income, and cash flows are presented, along with discussions on operational activities and financial risks. The report provides a comprehensive overview of the company's financial health for the quarter.

Why It Matters

This 10-Q filing provides investors and stakeholders with crucial financial data and insights into Celanese Corp.'s performance and strategic direction for the second quarter of 2024.

Risk Assessment

Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial information and forward-looking statements that can impact stock prices.

Key Players & Entities

• Celanese Corp. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240802 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• ce-20240630.htm (10-Q) — 1840KB
• ex10106302410-q.htm (EX-10.1) — 38KB
• ex221-10k63024.htm (EX-22.1) — 10KB
• ex31106302410-q.htm (EX-31.1) — 11KB
• ex31206302410-q.htm (EX-31.2) — 11KB
• ex32106302410-q.htm (EX-32.1) — 6KB
• ex32206302410-q.htm (EX-32.2) — 6KB
• ce-20240630_g1.jpg (GRAPHIC) — 32KB
• celaneselogo.jpg (GRAPHIC) — 34KB
• 0001306830-24-000155.txt ( ) — 10652KB
• ce-20240630.xsd (EX-101.SCH) — 59KB
• ce-20240630_cal.xml (EX-101.CAL) — 105KB
• ce-20240630_def.xml (EX-101.DEF) — 325KB
• ce-20240630_lab.xml (EX-101.LAB) — 772KB
• ce-20240630_pre.xml (EX-101.PRE) — 573KB
• ce-20240630_htm.xml (XML) — 1861KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 a) Unaudited Interim Consolidated Statements of Operations for the three and s ix months ended June 3 0 , 2024 and 2023 3 b) Unaudited Interim Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30 , 2024 and 2023 4 c) Unaudited Consolidated Balance Sheets as of June 30 , 2024 and December 31, 2023 5 d) Unaudited Interim Consolidated Statements of Equity for the three and six months ended J u ne 3 0 , 2024 and 2023 6 e) Unaudited Interim Consolidated Statements of Cash Flows for the six months ended June 30 , 2024 and 2023 8 f) Notes to the Unaudited Interim Consolidated Financial Statements 9 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 35 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 51 Item 4.

Controls and Procedures

Controls and Procedures 51

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 52 Item 1A.

Risk Factors

Risk Factors 52 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 53 Item 6. Exhibits 54

Signatures

Signatures 55 2 Table of Contents

Financial Statements

Item 1. Financial Statements CELANESE CORPORATION AND SUBSIDIARIES UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In $ millions, except share and per share data) Net sales 2,651 2,795 5,262 5,648 Cost of sales ( 2,010 ) ( 2,109 ) ( 4,067 ) ( 4,331 ) Gross profit 641 686 1,195 1,317 Selling, general and administrative expenses ( 255 ) ( 274 ) ( 520 ) ( 559 ) Amortization of intangible assets ( 38 ) ( 42 ) ( 79 ) ( 83 ) Research and development expenses ( 33 ) ( 40 ) ( 67 ) ( 82 ) Other (charges) gains, net ( 48 ) ( 10 ) ( 62 ) ( 33 ) Foreign exchange gain (loss), net ( 9 ) 15 2 21 Gain (loss) on disposition of businesses and assets, net ( 8 ) — ( 9 ) 5 Operating profit (loss) 250 335 460 586 Equity in net earnings (loss) of affiliates 51 23 106 38 Non-operating pension and other postretirement employee benefit (expense) income 2 ( 2 ) 4 ( 1 ) Interest expense ( 174 ) ( 182 ) ( 343 ) ( 364 ) Interest income 10 7 23 15 Dividend income - equity investments 31 31 65 65 Other income (expense), net 13 4 25 ( 2 ) Earnings (loss) from continuing operations before tax 183 216 340 337 Income tax (provision) benefit ( 29 ) 4 ( 62 ) ( 21 ) Earnings (loss) from continuing operations 154 220 278 316 Earnings (loss) from operation of discontinued operations ( 1 ) — ( 1 ) ( 3 ) Income tax (provision) benefit from discontinued operations — 1 — 1 Earnings (loss) from discontinued operations ( 1 ) 1 ( 1 ) ( 2 ) Net earnings (loss) 153 221 277 314 Net (earnings) loss attributable to noncontrolling interests 2 ( 1 ) ( 1 ) ( 3 ) Net earnings (loss) attributable to Celanese Corporation 155 220 276 311 Amounts attributable to Celanese Corporation Earnings (loss) from continuing operations 156 219 277 313 Earnings (loss) from discontinued operations ( 1 ) 1 ( 1 ) ( 2 ) Net earnings (loss) 155 220 276 311 Earnings (loss) per common share - basic Continuing operations 1.4

View Full Filing

View this 10-Q filing on SEC EDGAR