WASHINGTON (dpa-AFX) - Celanese Corp. (CE) said, due to uncertainties regarding the duration and impact of the COVID-19 pandemic, the company has decided to suspend its previously announced annual adjusted earnings per share guidance for 2020. The company has identified and implemented structural cost and capital reduction actions.
Lori Ryerkerk, CEO, said: 'We anticipate that we will generate $300 to $400 million of incremental cash due specifically to the actions we are currently taking on productivity, working capital management, and capital expenditures prioritization which allow us to offset meaningful demand and earnings challenges and deliver exceptionally resilient cash flow in 2020.'
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