iOS app Android app More

Celanese stock hits 2-year high after 3Q beat

stumbleupon: Celanese stock hits 2-year high after 3Q beat   digg: US Works With Sudan Government Suspected Of Aiding Genocide   reddit: Celanese stock hits 2-year high after 3Q beat   del.icio.us: Celanese stock hits 2-year high after 3Q beat

The Associated Press | October 21, 2013 03:57 PM EST | AP

Compare other versions »

Shares of Celanese Corp. rose to a two-year high Monday after the chemicals company's third-quarter profit beat Wall Street expectations.

The Irving, Texas-based company on Friday reported adjusted earnings of $1.20 per share for the three months that ended on Sept. 30.

Analysts expected earnings of $1.15 per share, according to FactSet.

Revenue rose nearly 2 percent to $1.6 billion. That was roughly in line with what analysts expected.

The company also said that it expects earnings in 2014 to continue to grow.

Shares rose $2.90, or 5.4 percent, to $56.88 in afternoon trading Monday. Earlier Monday, the stock reached $57.34, its highest point since July 2011. Its shares are up 53 percent over the past 12 months.