Celanese Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net sales of $1,593 million compared to $1,311 million a year ago. Operating profit was $217 million compared to $117 million a year ago. Earnings from continuing operations before tax was $265 million compared to $156 million a year ago. Earnings from continuing operations were $205 million compared to $161 million a year ago. Net earnings attributable to company were $203 million compared to $160 million a year ago. Earnings from continuing operations were $1.50 per diluted share compared to $1.12 per diluted share a year ago. Net earnings were $204 million compared to $161 million a year ago. Net earnings were $1.49 per diluted share compared to $1.12 per diluted share a year ago. Adjusted EBIT was $352 million compared to $289 million a year ago. Operating EBITDA was $431 million compared to $360 million a year ago. Net cash provided by operating activities was $58 million compared to net cash used in operating activities of $47 million a year ago. Free cash flow was negative $38 million compared to negative $116 million a year ago. Adjusted earnings of $1.98 per share compared to $1.52 per share a year ago. Adjusted earnings from continuing operations before tax was $321 million compared to $261 million a year ago. Adjusted earnings from continuing operations were $270 million compared to $217 million a year ago. Adjusted effective tax rate was 16% compared to 17% a year ago.

For the year, the company reported net sales of $6,140 million compared to $5,389 million a year ago. Operating profit was $901 million compared to $893 million a year ago. Earnings from continuing operations before tax was $1,075 million compared to $1,030 million a year ago. Earnings from continuing operations were $862 million compared to $908 million a year ago. Net earnings were $849 million compared to $906 million a year ago. Net earnings attributable to company were $843 million compared to $900 million a year ago. Earnings from continuing operations were $856 million compared to $902 million a year ago. Earnings from continuing operations were $6.19 per diluted share compared to $6.19 per diluted share a year ago. Net earnings were $6.09 per diluted share compared to $6.18 per diluted share a year ago. Adjusted EBIT was $1,356 million compared to $1,278 million a year ago. Operating EBITDA was $1,659 million compared to $1,566 million a year ago. Net cash provided by operating activities was $803 million compared $893 million a year ago. Free cash flow was $509 million compared to negative $623 million a year ago. Adjusted earnings of $7.51 per share compared to $6.61 per share a year ago. Adjusted earnings from continuing operations before tax was $1,236 million compared to $1,160 million a year ago. Adjusted earnings from continuing operations were $1,038 million compared to $963 million a year ago. Adjusted effective tax rate was 16% compared to 17% a year ago.

For the year 2018 the company expects earnings should be relatively flat. An early read on the recent tax reform indicates a 2% lower adjusted tax rate of 14% for Celanese in 2018. Taking all these drivers into consideration, current estimations for 2018 put growth of adjusted earnings per share in the 10%-14% range, with more of the growth in the first half of the year.