IRVING, Texas (AP) _ Celanese Corporation (CE) on Thursday reported fourth-quarter profit of $524 million.
The Irving, Texas-based company said it had profit of $4.79 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $4.91 per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $5.05 per share.
The chemical company posted revenue of $2.28 billion in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $2.24 billion.
For the year, the company reported profit of $1.89 billion, or $16.86 per share. Revenue was reported as $8.54 billion.
Celanese shares have dropped nearly 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $160.07, an increase of 34% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CE at https://www.zacks.com/ap/CE
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