Celanese reported third‑quarter 2025 results on November 6, 2025, with net sales of $2.419 billion, a 8.6% year‑over‑year decline, and a consolidated operating loss of $1.275 billion. Adjusted earnings per share rose to $1.34, beating the consensus estimate of $1.27 by $0.07 (5.5%) while operating EBITDA reached $517 million and operating cash flow was $447 million, generating $375 million in free cash flow from a $64 million capital‑expenditure program. The earnings beat was largely driven by disciplined cost management and a favorable product mix that offset the impact of a $1.5 billion goodwill impairment in the Engineered Materials segment.
The Engineered Materials business posted net sales of $1.38 billion and a GAAP operating loss of $1.33 billion, largely due to the goodwill impairment and weaker demand in the specialty‑materials market. In contrast, the Acetyl Chain segment generated $1.06 billion in sales and an operating profit of $135 million, supported by pricing power in building‑and‑construction and industrial end‑markets. The divergent performance of the two segments explains the overall operating loss despite a positive adjusted EBIT of $326 million.
CEO Scott Richardson emphasized that the company is navigating a challenging industrial environment, citing “persistent demand weakness” and “western‑hemisphere seasonality” as key headwinds. He reiterated guidance for fourth‑quarter adjusted EPS of $0.85 to $1.00, lower than the analyst consensus of $1.01 to $1.05, reflecting the expected volume decline. Richardson also highlighted the company’s focus on cash generation, cost‑reduction initiatives, and a target of $700 to $800 million in free cash flow for 2025.
Celanese’s definitive agreement to sell its Micromax business to Element Solutions for approximately $500 million is a cornerstone of its deleveraging strategy. The proceeds will be used to pay down debt, reducing the debt‑to‑equity ratio and improving financial flexibility. The divestiture also allows Celanese to concentrate on its core acetyl and engineered‑materials businesses, aligning with its long‑term growth plan.
Looking ahead, Celanese expects fourth‑quarter revenue to decline 4–5% due to seasonal demand, but it anticipates margin improvement as cost‑control measures take effect. The company remains committed to generating strong cash flow and accelerating its balance‑sheet optimization, positioning itself for sustainable growth in high‑margin specialty‑materials markets.
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