Celanese Corporation reported record fourth quarter 2014 adjusted earnings per share of $1.28 versus $1.04 in the prior year quarter.
Fourth quarter 2014 financial highlights
Record fourth quarter adjusted earnings per share of $1.28, up 23 percent from prior year, driven by increased flexibility in the Acetyl Chain to respond to industry dynamics and the impact of productivity initiatives Record fourth quarter adjusted EBIT margin of 18.1 percent, 300 basis points higher year-over-year Deployed $49 million of cash, repurchasing approximately 820 thousand shares.
Full year 2014 financial highlights
Record adjusted earnings per share of $5.67, up 26 percent from prior year, primarily due to the increased ability to respond to changing industry dynamics in the Acetyl Chain and the strength of the model in the Materials business Record adjusted EBIT margin of 18.6 percent, a 240 basis points increase over prior year Record operating cash flow of $962 million and adjusted free cash flow of $553 million driven by strong earnings Deployed $250 million of cash, repurchasing approximately 4.3 million shares Increased cash dividends paid to shareholders by 73 percent compared to prior year, to $144 million Improved credit profile through debt payments in excess of $200 million and an incremental $100 million US pension plan contribution.
"Our teams delivered exceptional performance in 2014. We demonstrated increased flexibility in the Acetyl Chain and continued to provide customers with innovative solutions that add value in our Materials business," said Mark Rohr, chairman and chief executive officer. "We begin 2015 with a strong underlying business that should help mitigate some of the volatility in the macroeconomic environment. Our focus as a company will be on the things we can control. However, with the level of global uncertainty that exists today, we anticipate adjusted earnings in 2015 will be in the range of $5.00 to $5.50 per share."