Celanese Corporation (CE) Q3 2022 Earnings Call Transcript

Celanese Corporation (NYSE:CE) Q3 2022 Earnings Conference Call November 4, 2022 10:00 AM ET

Company Participants

Brandon Ayache - VP, IR

Lori Ryerkerk - Chairman of the Board and CEO

Scott Richardson – CFO

Conference Call Participants

Josh Spector - UBS

David Begleiter - Deutsche Bank

Ghansham Panjabi - Baird

Jeff Zekauskas - JPMorgan

Vincent Andrews - Morgan Stanley

Kevin McCarthy - Vertical Research Partners

Mike Leithead - Barclays

Mike Sison - Wells Fargo

John McNulty - BMO Capital Markets

P.J. Juvekar - Citi

Hassan Ahmed - Alembic Global

Matthew Blair - TPH

Matthew DeYoe - Bank of America

Operator

Greetings, and welcome to the Celanese Corporation Third Quarter 2022 Earnings Call and Webcast. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal remarks. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to Brandon Ayache, Vice President of Investor Relations. Thank you. You may begin.

Brandon Ayache

Thank you, Darrel. Welcome to the Celanese Corporation third quarter 2022 earnings conference call. My name is Brandon Ayache, Vice President of Investor Relations. With me today on the call are Lori Ryerkerk, Chairman of the Board and Chief Executive Officer, and Scott Richardson, Chief Financial Officer. Celanese Corporation distributed its third quarter earnings release via Business Wire and posted prepared comments about the quarter on our Investor Relations website yesterday afternoon.

As a reminder, we will 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 the cautionary language regarding forward-looking statements, which can be found at the end of the press release as well as the prepared comments. Form 8-K reports containing all these materials have also been submitted to the SEC. Because we've published our prepared comments yesterday, we'll go ahead and open the line directly for your questions.

Darrel, please go ahead and open the line for questions.

Question-and-Answer Session

Operator

Thank you. We will now be conducting a question-and-answer session. [Operator Instructions] Our first question is coming from the line of Josh Spector with UBS. Please proceed with your questions.

Josh Spector

Yes, hi, thanks for taking my question. I guess, now that you've owned the M&M asset for a few days here, wondering if you can give us some context on the performance this year from an EBITDA perspective, also maybe some historical context given DuPont embedded on corporate and if not the full segment, how has that performed. And then also when you look at next year, you gave the comments of $800 million to get to that business pre-synergies, what are the major lifts that it takes to get there from the current run rate? Thanks.