Welcome to our dedicated page for Trinseo PLC news (Ticker: TSE), a resource for investors and traders seeking the latest updates and insights on Trinseo PLC stock.
Trinseo PLC (TSE) is a globally recognized leader in the production of plastics, latex, and rubber. With a legacy spanning seven decades, Trinseo combines technological innovation with a customer-focused approach. The company operates through several key segments: latex binders, feedstocks, polystyrene, Americas styrenics, engineered materials, and plastics solutions.
Trinseo's core business is centered around its Polystyrene segment which generates the majority of the company's revenue. This segment offers a variety of general-purpose polystyrenes and high-impact polystyrenes. These materials are crucial for applications in consumer electronics, food packaging, appliances, building materials, and more, providing performance and aesthetic value at a competitive cost.
The company’s operations are global, with significant revenue streams from Europe, and substantial presence in the United States and the Asia-Pacific region. Such a diversified geographical footprint allows Trinseo to cater to a broad spectrum of markets and reduce dependency on any single region.
Trinseo continues to innovate with recent projects aimed at enhancing sustainability and developing advanced materials. The company is engaged in partnerships and initiatives that push the boundaries of technology, ensuring that they remain at the cutting edge of material science.
In addition to their robust product portfolio, Trinseo's ongoing commitment to sustainability and technological advancement makes them a pivotal player in the global materials industry.
Trinseo (NYSE: TSE) has announced its expectations for Q4 2022, projecting a net loss from continuing operations between $367 million and $362 million and an Adjusted EBITDA of $4 million to $9 million. A significant factor contributing to this loss is a $297 million non-cash goodwill impairment charge. The company reported cash from operations of $32 million to $37 million, resulting in a negative Free Cash Flow of $22 million to $17 million. For the full year, the net loss is estimated at $432 million to $427 million, with Adjusted EBITDA ranging from $309 million to $314 million. Despite the challenges, Trinseo anticipates improvements in early 2023 due to seasonal demand increases and lower energy costs.
Trinseo (NYSE: TSE) has announced significant asset restructuring initiatives aimed at improving annual profitability by approximately $60 million. Key actions include:
- Closure of styrene operations in Boehlen, Germany due to uncompetitive market conditions.
- Closure of a polycarbonate production line in Stade, Germany, while retaining other production for downstream compounding.
- Consolidation of PMMA sheet manufacturing from Matamoros, Mexico to Florence, Kentucky.
- Reduction of SB latex capacity at Hamina, Finland, starting mid-2023.
The company anticipates non-recurring costs of $79 million to $89 million, with most charges incurred through 2024.
Trinseo (NYSE: TSE) has announced a quarterly dividend of $0.32 per share, payable on January 19, 2023, to shareholders of record as of January 5, 2023. With approximately $4.8 billion in net sales reported for 2021, the company continues to focus on innovative and sustainable material solutions across various industries, including consumer goods and medical sectors. This dividend reflects Trinseo's commitment to delivering value to its shareholders while pursuing growth in material solutions.
Trinseo (TSE) reported a challenging third quarter in 2022, with a net loss from continuing operations of $118 million and a diluted EPS of negative $3.35. Net sales declined 7% year-over-year, driven by an 18% drop in sales volume amid economic uncertainty and customer destocking. Adjusted EBITDA was negative $37 million, significantly lower than prior year results. However, the company generated $59 million in free cash flow, supported by a working capital release of $166 million from declining raw material prices.
Trinseo (NYSE: TSE) announced preliminary Q3 2022 results with net income estimates between negative $123 million and negative $118 million, and Adjusted EBITDA estimates between negative $42 million and negative $37 million. Low customer demand in Europe and Asia, high natural gas prices, and significant customer destocking contributed to poor performance. However, projected cash from operations is estimated at $95-$100 million. The company is considering asset optimization strategies expected to improve profitability by approximately $60 million annually.
Trinseo (NYSE: TSE) has commenced an information and consultation process with its Works Council regarding the potential closure of its styrene monomer production facility in Boehlen, Germany, which has a capacity of 300 kilotons. The site recorded a loss of approximately $30 million over the past year due to high energy costs and low customer demand. CEO Frank Bozich noted the challenges facing the facility and indicated that closure could enhance profitability and support the company's sustainability goals for 2030.
Trinseo (NYSE: TSE) announced a quarterly cash dividend of $0.32 per share, payable on October 20, 2022, to shareholders recorded as of October 6, 2022. The company reported net sales of approximately $4.8 billion in 2021 and specializes in material solutions across various industries, including consumer goods and medical. This dividend reflects Trinseo's commitment to providing returns to its shareholders while maintaining a focus on innovative and sustainable practices.
Trinseo (NYSE: TSE) has authorized a new share repurchase program of up to $200 million, set to expire in 18 months. This follows the full utilization of a previous $200 million buyback initiated in December 2021. The program aims to enhance shareholder value while supporting the company's transformation in specialty materials. CEO Frank Bozich highlighted the company's strong cash generation and strategic growth opportunities as key reasons for the program's initiation.
Trinseo (NYSE: TSE) has appointed Han Hendriks as Chief Technology Officer (CTO), effective October 1, 2022. As a member of the executive leadership team, he will focus on developing innovative technologies and sustainable solutions. Hendriks previously served as CTO at Yanfeng, where he led technology vision and strategy. His background includes a 16-year tenure at Johnson Controls and experience at Fluke and Océ. Trinseo aims to leverage his expertise during its transformation into a specialty material solutions provider.
Trinseo (NYSE: TSE) reported its Q2 2022 results, showing a net income from continuing operations of $37 million and a diluted EPS of $1.00. Net sales increased by 12% to $1.426 billion, mainly driven by higher prices due to increased raw material costs. Adjusted EBITDA was $164 million, down $75 million year-over-year due to lower margins and sales volume. Cash used in operations was $83 million, resulting in a negative Free Cash Flow of $115 million. The company paused its sale of the styrenics business amid economic uncertainties but remains committed to its transformation strategy.
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