Q2 2024 Celanese Corp Earnings Call Transcript
Key Points
- Celanese Corp (CE) expects moderate growth in volumes based on the strength of their product pipeline.
- The company anticipates continued growth in margin due to synergy pull-through and lower cost raw materials in inventory.
- Celanese Corp (CE) has seen strong growth in medical implants and expects this trend to continue.
- The integration of commercial teams has started to show benefits, with a significant volume lift from Q1 to Q2.
- The company has been proactive in managing its debt, paying down $500 million in the second quarter and planning another $500 million in the third quarter.
- Celanese Corp (CE) is still under force majeure due to supply chain disruptions, which has impacted their operations.
- The company has faced price pressure on raw nylon polymer, affecting expected margin uplift.
- Construction, paints, and coatings sectors remain weak, with no anticipated seasonal uptick in the third quarter.
- The company has lowered its CapEx guidance to $400 million to $450 million, indicating potential delays or reductions in planned investments.
- Celanese Corp (CE) has experienced significant challenges with supplier issues, leading to a $35 million cost impact in the second quarter and an expected additional $5 million to $10 million in the next quarter.
Greetings and welcome to Celanese's Second Quarter 2024 Earnings Call and Webcast. [Operator Instructions].
It is now my pleasure to introduce your host, Bill Cunningham, Vice President of Investor Relations. Thank you. You may begin.
Thanks, Diego. Welcome to the Celanese Corporation's second quarter 2024 earnings conference call. My name is Bill Cunningham, Vice President of Investor Relations. With me on the call are Lori Ryerkerk, Chairman of the Board and Chief Executive Officer; Scott Richardson, Chief Operating Officer; and Chuck Kyrish, Chief Financial Officer. Celanese distributed its second quarter earnings released via Business Wire and posted prepared comments on our Investor Relations website yesterday afternoon.
As a reminder, we'll discuss non-GAAP financial measures today. You can find definitions of these measures as well as reconciliations to the comparable GAAP measures on our website. Today's presentation will also include forward-looking statements. Please review
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