Celanese Corporation posted a stronger first quarter 2026 performance, driven by higher volumes, improved mix, and cost actions across its global chemicals portfolio, while also raising its full-year cash flow outlook.
The company reported U.S. GAAP diluted EPS of $0.41 and adjusted EPS of $0.85, with net sales rising 6% sequentially to $2.3 billion. Growth was fueled by a 5% increase in volume, modest currency benefits, and stable pricing—despite higher feedstock and energy costs weighing on margins.
Operating performance also strengthened. Celanese delivered $214 million in operating profit, $275 million in adjusted EBIT, and $455 million in operating EBITDA, reflecting disciplined execution and portfolio optimization across both business units.
At the segment level, Engineered Materials benefited from improved product mix and seasonal demand, while the Acetyl Chain saw strong sequential volume gains, particularly in China, supported by targeted pricing actions and operational agility.
“We are taking decisive and intentional actions to drive business improvement,” said Scott Richardson, president and chief executive officer.
“By staying ahead of dynamic global events, we were able to capitalize on opportunities while positioning the business for an improved earnings profile over the course of the year. At the same time, we are strengthening the long-term fundamentals of the business through operational improvements and increased resilience. This progress supports our decision to raise our full-year free cash flow outlook to $700 to $800 million and reinforces our confidence in the path forward.”
Celanese continued to aggressively reshape its global footprint. The company is advancing cost-cutting and portfolio optimization steps, including the restart of its Frankfurt VAM unit, commissioning of a new VAE reactor, and the planned closure of its nylon 6,6 polymerization unit in Singapore. These actions are aimed at improving competitiveness and cash generation.
Additional initiatives include expansion of specialty materials capabilities across Asia and Europe, as well as the opening of an expanded Michigan Technology Center to speed up customer innovation cycles.
Celanese reported $76 million in operating cash flow and $3 million in free cash flow, reflecting seasonal working capital effects. The company also reaffirmed its focus on deleveraging and balance sheet strengthening.
Looking forward, Celanese expects momentum to build through 2026. The company forecasts second-quarter adjusted EPS of $2.00 to $2.40, with a stronger second half expected as pricing actions and volume gains take hold.
Management also expects continued balance sheet improvement, targeting leverage reduction toward a net debt-to-EBITDA ratio near 4.8x, reinforcing a longer-term shift toward financial discipline and resilience.
Despite macroeconomic and input cost pressures, Celanese signaled confidence that its restructuring efforts and operational improvements are positioning the company for a stronger earnings profile through the remainder of the year.
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