Trinseo (TSE) shares soared 15.8% in the last trading session to close at $6.60. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 32.9% gain over the past four weeks. Shares of Trinseo gained since it announced significant restructuring initiatives that will position the company for long-term growth. The company is consolidating its Engineered Materials, Plastics Solutions and Polystyrene businesses beginning Oct. 1, 2024. This mo ...

Trinseo PLC (TSE) has announced significant restructuring initiatives that will position the company for longterm growth. These initiatives will improve Trinseo's profitability and increase cash generation. Trinseo's Structural Changes The company is consolidating its Engineered Materials, Plastics Solutions and Polystyrene businesses beginning Oct. 1, 2024. This move will minimize the workforce by consolidating management positions and support roles. Francesca Reverberi, senior vice president of engineered ...

Baloncici/iStock via Getty Images Executive Summary Trinseo (NYSE:TSE) is a global plastic products' manufacturer spun out of Dow Chemical Company 15 years ago. The company's focus has gone from commodity feedstock to value added engineered materials and latex binders to various end users, like housing, automotive, medical, and consumer electronics companies. The current business environment has caused the company to lose sales and experience compressed margins. However, the company has recently seen an imp ...

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA of $67 million for Q2 2024, which was in line with previous guidance and included $10 million of unfavorable net timing from falling styrene prices [11] - Free cash flow remained negative at $56 million, with cash used in operations amounting to $42 million [12] - The company ended the quarter with $108 million in cash and $352 million in total liquidity [12] Business Line Data and Key Metrics Changes - The engineered materials segment experienced its highest sales volumes and adjusted EBITDA since Q2 2022, driven by moderating input costs and steady demand [6] - Despite a 5% decline in overall volumes, mix improvement led to higher year-over-year adjusted EBITDA, particularly in targeted growth areas such as case and battery applications, latex binders, and automotive compounds [11] Market Data and Key Metrics Changes - The MMA market is currently tight across all regions, with improved volumes in architectural coatings contributing to this tightening effect [28] - European volumes in PMMA have shown a strong recovery compared to last year, indicating geographical variations in market performance [21] Company Strategy and Development Direction - The company is committed to sustainability, having made significant progress towards its 2030 sustainability goals, including advancements in recycling technologies [7][10] - The planned sale of the Americas Styrenics joint venture is progressing, with a joint sales process expected to begin this quarter [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining higher profitability levels despite a challenging macroeconomic environment and weak end market demand [14] - The company anticipates Q3 adjusted EBITDA to be similar to Q2, with expectations for free cash flow to turn positive in the second half of the year [13] Other Important Information - The company has entered into a new accounts receivable securitization facility, extending the maturity date from 2025 to January 2028, emphasizing liquidity preservation as a top priority [12] - The PMMA depolymerization facility in Italy is expected to utilize a novel recycling process, although specific EBITDA contributions and timelines are not yet available [30] Q&A Session Summary Question: Free cash flow expectations for the balance of the year - Management expects Q3 free cash flow to be neutral and Q4 to be positive, but full-year free cash flow will remain negative due to high styrene prices earlier in the year [16] Question: Restructuring spending and cost savings - Management confirmed that the $100 million cost savings from restructuring and natural gas hedges are still expected for 2024 [19] Question: End market performance in engineered materials - Management noted steady demand in automotive and strong performance in building and construction applications, particularly in Europe [21] Question: Normal earnings power of the company - Management indicated that predicting normal earnings power is challenging due to geopolitical and market uncertainties, but improvements are expected from ongoing actions [26] Question: Timeline for PMMA facility contributions - Management stated that the PMMA facility is a demonstration project, and specific EBITDA contributions or timelines are not currently available [30] Question: Cash interest and liquidity preservation - Management explained the decision to capitalize interest payments to preserve liquidity in the current downturn, with a focus on maintaining financial flexibility [35] Question: Sale of Americas Styrenics joint venture - Management expressed confidence that the joint sales process will minimize previous concerns from potential buyers about entering a joint venture [36]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36473 Trinseo PLC (Exact name of registrant as specified in its charter) Ireland N/A (State or other jurisdict ...

Trinseo (TSE) came out with a quarterly loss of $1.46 per share versus the Zacks Consensus Estimate of a loss of $1.09. This compares to loss of $1.92 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -33.94%. A quarter ago, it was expected that this plastics and latex maker would post a loss of $2.07 per share when it actually produced a loss of $1.94, delivering a surprise of 6.28%. Over the last four quarters, the company ha ...

Contact: Andy Myers Tel : +1 610-240-3221 Email: aemyers@trinseo.com Trinseo Reports Second Quarter 2024 Financial Results and Provides Third Quarter Outlook Second Quarter 2024 and Other Highlights ● Net loss of $68 million and EPS of negative $1.92 ● Adjusted EBITDA* of $67 million, including a $10 million unfavorable impact from net timing; Adjusted Net Loss* of $52 million, reflecting year-over-year and sequential profitability improvement ● Cash used in operations of $42 million and capital expenditure ...

Trinseo PLC (TSE) — a specialty material solutions provider — announced the opening of its polymethyl methacrylate (PMMA) depolymerization facility in Rho, Italy. This pilot facility marks a significant advancement in the company's commitment to sustainability, leveraging next-generation recycling technology to promote a circular infrastructure for acrylic solutions, in line with Trinseo's 2030 Sustainable Product Portfolio Goals. Trinseo expressed enthusiasm about the new facility, stating that it represen ...

Europe Asia 5 Q1'24 Q1'23 6 U.S. 4 • Styrene purchased via a mix of spot and contract prices • Q1 price increase contributed to working capital build, the majority of which we believe will reverse over the balance of the year Net Sales & Net Income ($MM) Q1'24 Q1'23 Net Sales Net Income Adjusted EBITDA* ($MM) Engineered Materials $4 ($12) Q1'24 Q1'23 Vol Price FX Total 3% (12%) 1% (8%) • Higher year-over-year volumes in paper & board applications, primarily in Asia Pacific • Adjusted EBITDA was $2 million a ...

Trinseo PLC (NYSE:TSE) Q1 2024 Earnings Conference Call May 9, 2024 10:00 AM ET Company Participants Andy Myers - Director, Investor Relations Frank Bozich - President and Chief Executive Officer David Stasse - Executive Vice President and Chief Financial Officer Conference Call Participants David Begleiter - Deutsche Bank Matthew Blair - TPH Hassan Ahmed - Alembic Global Advisors Kevin Estok - Jefferies Ed Brucker - Barclays Roger Spitz - Bank of America Operator Good morning, ladies and gentleman and welc ...