Celanese Posts Q2 Profit Surge, Boosts 2010 Forecast

Celanese Corp said on Thursday that second-quarter profit rose 50 percent as the improving economy continued to increase demand for its products, and the chemical maker raised its full-year outlook.
Net income rose to $160 million, or $1.01 per share, from $107 million, or 69 cents per share, a year earlier.
Excluding one-time items, the company posted profit of $1.12 per share.

Revenue at the Dallas-based company rose 22 percent to $1.52 billion. Analysts expected $1.46 billion.

Celanese boosted its 2010 adjusted earnings outlook to $1.40 per share above 2009 earnings, or $3.11. It had previously forecast annual profit would be $1.25 above last year's. Analysts expect $3.06.

During the quarter, the company had said its increasingly diverse product line would help increase 2010 earnings.