Celanese Corporation (NYSE: CE) saw its stock price soar 6.62% in pre-market trading on Friday, building on the previous day's 7.98% gain. The continued upward momentum comes after the chemical and specialty materials company released its third-quarter earnings report, which exceeded analyst expectations despite challenging economic conditions.

The company reported adjusted earnings per share of $1.34 for the third quarter, significantly beating the analyst consensus estimate of $1.22. This impressive performance was achieved despite an 8.65% year-over-year decrease in sales to $2.419 billion. Celanese's ability to surpass earnings projections in the face of declining revenues underscores the effectiveness of its ongoing cost reduction initiatives and operational improvements.

Investors were particularly encouraged by Celanese's strong free cash flow generation, which reached $375 million for the quarter, with operating cash flow at $447 million. The company remains on track to generate $700 million to $800 million in free cash flow in 2025, driven by cost reductions, inventory management in the Engineered Materials segment, and working capital optimization. Celanese's focus on deleveraging its balance sheet, intensifying cost improvements, and driving top-line growth appears to be resonating well with investors, contributing to the stock's significant pre-market uptick.