Shares of Celanese (CE), a leading chemical and specialty materials company, tumbled 14.53% in pre-market trading on Tuesday following the release of its second-quarter earnings report and disappointing third-quarter guidance. The sharp decline reflects investors' concerns about the company's near-term outlook amid challenging market conditions.

While Celanese's Q2 results exceeded analysts' expectations with adjusted earnings per share of $1.44 surpassing the consensus estimate of $1.40, the company's forward-looking statements have raised alarms. Celanese projected third-quarter adjusted earnings per share in the range of $1.10 to $1.40, significantly below the analysts' forecast of $1.73, indicating potential headwinds in the coming months.

The chemical industry has been grappling with multiple challenges, including higher energy costs and weak demand, especially in European markets where strict regulations have further increased manufacturing costs. Celanese anticipates a softening demand environment across most of its key end-markets for the second half of the year, which is expected to partially offset the benefits from their cost reduction initiatives. CEO Scott Richardson commented, "We are pleased that the deliberate actions we took drove earnings results for us this quarter. However, the demand environment does not seem to be improving." This outlook suggests that despite the company's efforts to streamline operations, external market factors are likely to pressure profitability in the near term, leading to the sharp sell-off in pre-market trading.