IRVING, Texas (AP) Celanese Corp. (CE) on Wednesday reported fourth-quarter net income of $160 million, after reporting a loss in the same period a year earlier.
The Irving, Texas-based company said it had profit of $1.12 per share. Earnings, adjusted for non-recurring costs, came to $1.52 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The chemical company posted revenue of $1.31 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.3 billion.
For the year, the company reported profit of $900 million, or $6.18 per share. Revenue was reported as $5.39 billion.
Celanese shares have risen 7 percent since the beginning of the year. The stock has increased 37 percent in the last 12 months.