Trinseo PLC - TSE STOCK NEWS

Trinseo (NYSE: TSE) reported a third quarter 2024 net loss of $87 million ($2.47 per share), with net sales of $868 million, down 1% from prior year. The company posted Adjusted EBITDA of $66 million, representing a $25 million increase from the previous year. The quarter saw improved results across all business segments except Americas Styrenics. The company announced restructuring initiatives expected to yield cost savings of $25 million in 2025 and $30 million by end of 2026. Cash position stood at $167 million with $177 million additional available liquidity. Fourth quarter 2024 outlook projects net loss between $81-71 million and Adjusted EBITDA of $40-50 million.

Trinseo (NYSE: TSE) has scheduled its third quarter 2024 financial results conference call for Thursday, November 7 at 10 a.m. Eastern Time. The company will release its financial results and presentation slides on Wednesday, November 6, 2024, after market close via Business Wire and the company's Investor Relations website. Frank Bozich, President and CEO, David Stasse, CFO, and Bee van Kessel, SVP of Corporate Development, will lead the call, which will include introductory comments and a Q&A session. The conference materials will be filed through Form 8-K, and a replay will be available until November 7, 2025.

Trinseo (NYSE: TSE) has announced restructuring initiatives aimed at improving long-term growth, profitability, and cash generation. Key points include:

1. Consolidation of Engineered Materials, Plastics Solutions, and Polystyrene businesses, effective October 1, 2024.

2. Expected annual cost savings of $30 million, with $25 million realized in 2025 and full run rate by end of 2026.

3. Exit from virgin polycarbonate production at Stade, Germany facility by January 2025.

4. Anticipated annual profitability improvement of $15-20 million from purchasing polycarbonate externally.

5. Total pre-tax restructuring charges estimated at $23-28 million.

These measures aim to create a more streamlined organizational structure and improve customer service while reducing costs.

Trinseo (NYSE: TSE), a specialty material solutions provider, has announced a quarterly dividend of $0.01 per share. The dividend will be distributed as cash to shareholders of record at the close of business on October 10, 2024. The payment is scheduled for October 24, 2024. This announcement comes from the company's Board of Directors, who have authorized this quarterly dividend.

Trinseo (NYSE: TSE) reported its Q2 2024 financial results, showing a net loss of $68 million and EPS of -$1.92. The company's Adjusted EBITDA was $67 million, including a $10 million unfavorable impact from net timing. Net sales decreased 4% year-over-year to $920 million. Despite challenges, Trinseo saw improvements in Engineered Materials and Latex Binders segments. The company maintains a focus on cash management and liquidity, with $108 million in cash and approximately $244 million in additional available liquidity. Trinseo expects Q3 2024 net loss between $42-52 million and Adjusted EBITDA of $65-75 million, anticipating similar market conditions to Q2.

Trinseo PLC (NYSE: TSE), a specialty material solutions provider, has announced a new $150 million non-recourse financing facility with credit funds and accounts managed by KKR. This facility, collateralized by trade receivables, replaces a prior facility of the same size maturing in November 2025. The new facility extends the maturity to December 2027 and has no minimum liquidity covenants, providing Trinseo with additional financial flexibility. Frank Bozich, President and CEO of Trinseo, expressed enthusiasm for KKR's support, highlighting the extended maturity and improved terms. Giacomo Picco, a Managing Director at KKR, emphasized their expertise in global receivables financing and commitment to supporting Trinseo's growth and supply of critical materials to essential markets globally.

Trinseo (NYSE: TSE), a provider of specialty material solutions, will release its second-quarter 2024 financial results on Tuesday, August 6, 2024, after market close. A conference call to discuss the results will be held the following day, Wednesday, August 7, at 10 a.m. Eastern Time. The call will feature introductory remarks followed by a Q&A session with company executives Frank Bozich, David Stasse, and Andy Myers. Investors can register for the Q&A session or webcast via provided links. The financial results will be available on Business Wire, Trinseo's Investor Relations website, and through a Form 8-K filing with the SEC. A replay of the call will be accessible until August 7, 2025.

Trinseo (NYSE: TSE), a specialty material solutions provider, released its 2024 Sustainability & Corporate Social Responsibility Report. Key 2023 data includes a 23% decrease in greenhouse gas (GHG) emissions, marking a 51% reduction since 2017. GHG emissions intensity dropped by 11%, totaling a 21% reduction since 2017. Renewable energy use increased by 5%, with 18% of consumed electricity sourced from biomass, wind, solar, and hydroelectric power.

Trinseo aims to become a leader in sustainable specialty materials, focusing on decarbonization and renewable energy. The company conducted energy assessments at various global facilities to identify sites for renewable energy supply. A Scope 3 Council was established to manage and verify Scope 3 GHG emissions.

Additional highlights include advancing recycling technologies with a polycarbonate dissolution facility in the Netherlands and a polymethyl methacrylate depolymerization facility in Italy. Trinseo also expanded its 2030 Sustainable Workforce Goals to promote inclusivity, talent development, and safety.

Trinseo (NYSE: TSE), a specialty material solutions provider, has issued a correction to its previously announced quarterly dividend. The initial press release dated June 27, 2024, incorrectly stated the record date as July 7, 2024. The corrected record date is July 8, 2024. The dividend remains at $0.01 per share. No other changes have been made to the original announcement.