Adjusted EBITDA increased by $4 million with a 70 basis point margin improvement driven by price/cost gains in Fiber, Polymers, and Integrated segments.
Containerboard divestment contributed $872 million in sales and $168 million EBITDA year-to-date, with $122 million sales and $25 million EBITDA expected in August and September.
Durable Metals experienced volume declines of 5.8% due to industrial softness but maintained flat gross profit with margin improvement.
Free cash flow surged nearly 400% to $171 million in Q3, demonstrating business resilience amid macroeconomic challenges.
Integrated Solutions sales and gross profit were flat year-over-year, with a 160 basis point margin decline due to product mix.
Polymers segment saw sales growth from volume, price, and mix, with gross profit up over $10 million and margins up 150 basis points.
Sustainable Fiber volumes declined 7.6%, but gross profit increased by $8 million with a 360 basis point margin improvement.
Bookings in Q4 were a record $342 million with a book-to-bill ratio of 1.25, resulting in a record backlog of $1.4 billion, up 6% year-over-year.
Free cash flow for Q4 was $34 million, exceeding expectations, and full year free cash flow was a record $119 million.
GAAP net income in Q4 was $16 million versus a net loss of $11 million in the prior year quarter; full year GAAP net loss improved to $38 million from $138 million.
Q4 adjusted EBITDA was $51 million with a margin of 18.8%, up over 700 basis points sequentially; full year adjusted EBITDA was $119 million with a 13.1% margin.
Q4 revenue was $273 million, up 9.9% year-over-year, with full year revenue of $912 million, up 9.2%.
Adjusted EBITDA for Q3 2025 was $64.1 million, a 66.1% increase year-over-year excluding the bus business impact.
Consolidated net sales for Q3 2025 were $644.9 million, up from $579.4 million in Q3 2024, excluding divested ENC transit bus sales, representing a 20.5% increase.
Recreational Vehicle segment sales rose 9.7% to $161.7 million, but adjusted EBITDA declined 13.8% due to dealer assistance, tariffs, and inflation.
Celanese reported a second quarter 2025 EPS run rate target of $2 per share, with Q3 guidance midpoint at $1.25.
Free cash flow guidance remains strong at $700 million to $800 million for 2025, driven primarily by operations despite $650 million to $700 million in interest expense.
Inventory reduction efforts in Engineered Materials caused a sequential $25 million negative earnings impact in Q3, offset by a prior Q2 benefit.
The company experienced volume weakness in China automotive orders, European demand in Engineered Materials, and the Western Hemisphere Acetyl Chain.
Volumes in the Western Hemisphere acetyl demand are at the lowest levels in 20 years, with Engineered Materials volumes down 5-6% year-over-year.
Dafinchi