Trinseo(US:TSE)2023-05-05 16:07Q1 2023 Financial Performance - Net loss from continuing operations was $49 million[4] - Adjusted EBITDA was $36 million[4] - Results included pre-tax impacts of $19 million for natural gas hedge losses and $10 million for fixed cost under absorption[4, 11] - Free Cash Flow was $24 million, including a working capital release of $52 million from inventory reduction[4] Cash Generation and Liquidity - Q1 ending cash balance was $217 million with $251 million of additional available liquidity[4] - Announced sale of Matamoros facility for cash consideration of $19 million; Q2 close expected[4] - Cash improvement actions of more than $100 million in 2023[4] 2023 Outlook - Net loss from continuing operations of $94 million to $61 million and Adjusted EBITDA of $275 million to $325 million[4] - Cash from operations of approximately $165 million and Free Cash Flow of approximately $75 million[4] - Expect significant sequential improvement in Q2 from lower raw material and Corporate costs, higher fixed cost absorption and a lower natural gas hedge loss[4] Sales and Volume - Global net sales were $996 million, with a year-over-year sales volume decrease of 20%[6, 8] - Europe net sales were $545 million, with a year-over-year sales volume decrease of 20%[6] - U S net sales were $251 million, with a year-over-year sales volume decrease of 14%[6] - Asia-Pacific net sales were $168 million, with a year-over-year sales volume decrease of 22%[6]