CE Q2 2023 Earnings Report — Celanese Corporation Revenue & Financial Results | Market Cap Arena

Celanese CorporationCE

Q2 2023 Earnings

Reported August 8, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$2.8B	—	$2.5B	—	12.4%
Op. Income	$335M	—	$483M	—	-30.6%
Gross Margin	24.5%	—	28.4%	—	-3.8pp
Net Margin	7.9%	—	17.5%	—	-9.6pp
EPS (Diluted)	$2.01	—	$3.98	—	-49.5%
Free Cash Flow	$617M	—	$371M	—	66.3%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$2.1B
GROSS PROFIT	$686M
R&D Expenses	$40M
Selling & Marketing	$0
General & Administrative	$276M
SG&A Expenses	$276M
Other Expenses	$35M
Operating Expenses	$351M
Cost & Expenses	$2.5B
OPERATING INCOME	$335M
Interest Income	$7M
Interest Expense	$182M
Other Income/Expenses	-$119M
INCOME BEFORE TAX	$216M
Income Tax Expense	-$4M
Net Income from Continuing Ops	$220M
Net Income from Discontinued Ops	$1M
Other Adjustments	$0
NET INCOME	$220M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$220M
D&A	$181M
EBIT	$398M
EBITDA	$579M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$2.1B
GROSS PROFIT	$686M
R&D Expenses	$40M
Selling & Marketing	$0
General & Administrative	$276M
SG&A Expenses	$276M
Other Expenses	$35M
Operating Expenses	$351M
Cost & Expenses	$2.5B
OPERATING INCOME	$335M
Interest Income	$7M
Interest Expense	$182M
Other Income/Expenses	-$119M
INCOME BEFORE TAX	$216M
Income Tax Expense	-$4M
Net Income from Continuing Ops	$220M
Net Income from Discontinued Ops	$1M
Other Adjustments	$0
NET INCOME	$220M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$220M
D&A	$181M
EBIT	$398M
EBITDA	$579M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$221M
Depreciation & Amortization	$181M
Stock-Based Compensation	$18M
Deferred Income Tax	-$4M
Other Non-Cash Items	-$54M
Change in Working Capital	$400M
OPERATING CASH FLOW	$762M
Capital Expenditure	-$145M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$18M
NET CASH FROM INVESTING	-$163M
Net Debt Issuance	-$365M
Common Stock Repurchased	$0
Common Dividends Paid	-$76M
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$447M
FREE CASH FLOW	$617M
Net Change in Cash	$129M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$2.0B
Inventory	$2.5B
Other Current Assets	$479M
TOTAL CURRENT ASSETS	$6.3B
PP&E (Net)	$5.9B
Goodwill	$7.1B
Intangible Assets	$4.0B
Long-Term Investments	$1.0B
Tax Assets	$832M
Other Non-Current Assets	$523M
TOTAL NON-CURRENT ASSETS	$19.4B
TOTAL ASSETS	$25.6B
Account Payables	$1.2B
Short-Term Debt	$1.5B
Deferred Revenue	$0
Other Current Liabilities	$530M
TOTAL CURRENT LIABILITIES	$3.9B
Long-Term Debt	$12.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.2B
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$15.6B
TOTAL LIABILITIES	$19.6B
Common Stock	$0
Additional Paid-In Capital	$383M
Retained Earnings	$11.4B
Treasury Stock	-$5.5B
Accum. Other Comp. Income	-$702M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.6B
Minority Interest	$464M
TOTAL EQUITY	$6.1B
TOTAL LIABILITIES & EQUITY	$25.6B
Total Debt	$14.9B
Net Debt	$13.6B