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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) 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.
Trinseo (NYSE: TSE) has paused the sale of its styrenics business due to unfavorable economic conditions and financing markets, which have hindered the realization of expected asset value. Initially exploring the divestiture in November 2021, the company received significant interest but could not proceed amid economic uncertainty, particularly related to the Ukraine conflict. CEO Frank Bozich reiterated the commitment to their transformation strategy while utilizing current cash generation for organic growth, sustainability initiatives, and returning cash to shareholders.
Trinseo has launched ALTUGLAS™ R-Life Acrylics, a new series of sustainable materials, in the European market. This brand includes recycled and bio-based PMMA for various applications, with products such as extruded sheets, cast sheets, and acrylic resins. The products reduce global warming potential significantly, achieving up to a 53% reduction for extruded sheets. This series underscores Trinseo's commitment to sustainability and innovative recycling technologies.
Trinseo (NYSE: TSE) will host a conference call on August 9, 2022, at 10 a.m. Eastern Time to discuss its Q2 2022 financial results. Commentary will be provided by CEO Frank Bozich and CFO David Stasse, followed by a Q&A session. The company plans to release its financial results on August 8, 2022, after market close. Trinseo reported approximately $4.8 billion in net sales for 2021. Participants can register for the event via the provided links for both Q&A and listening options.
Trinseo (NYSE: TSE) has partnered with CEDAP to supply recycled polystyrene (rPS) for yogurt cups of the French brand Les 300 Laitiers Bio since April 2022. Utilizing Trinseo's STYRON™ CO2RE™ CR55 resin, which contains 55% recycled content, CEDAP produces PS sheets that are thermoformed for final products. All involved companies are ISCC+ mass balance certified, ensuring sustainable practices. A lifecycle analysis revealed that using rPS can reduce CO2 emissions by 75%. This collaboration underscores Trinseo's commitment to sustainability and innovation in materials.
Trinseo (NYSE: TSE) and GMP Group announce a collaboration to enhance the circularity of polystyrene (PS) through a new recycling plant in the Netherlands, expected to start in 2024. This partnership aims to purify PS waste and produce high-quality recycled PS pellets, supporting sustainability goals. The plant will have a minimum capacity of 25kt. Both companies will also explore further supply and processing opportunities to develop sustainable solutions. Trinseo reported net sales of approximately $4.8 billion in 2021, reinforcing its commitment to innovative material solutions.
Trinseo (NYSE: TSE) has initiated a partnership with Atos to leverage Atos' digital solution for monitoring the carbon footprint of Trinseo's product portfolio. This initiative aims to enhance carbon transparency and support Trinseo's goal of achieving net-zero emissions. The partnership will utilize a product carbon footprint (PCF) calculation tool developed by BASF, aligning with ISO standards. The pilot project will automate carbon footprint assessments, starting with key products, thereby streamlining the current manual process.
Trinseo (NYSE: TSE) has declared a quarterly dividend of $0.32 per share, payable on July 21, 2022, to shareholders recorded as of July 7, 2022. With approximately $4.8 billion in net sales in 2021, Trinseo is a key player in global materials solutions, focusing on sustainable products across various sectors such as automotive and consumer electronics. The company operates 26 manufacturing sites and one recycling facility, employing around 3,400 individuals worldwide.
Trinseo (NYSE: TSE) reported a 41% increase in net sales for Q1 2022, reaching $1.39 billion, driven by higher raw material prices and new acquisitions. However, net income from continuing operations fell to $17 million, down from $66 million year-over-year, largely due to a $36 million pre-tax charge related to the European Commission's investigation. Adjusted EBITDA was $178 million, a slight decrease from the previous year. The company projects full-year net income between $174 million and $211 million and Adjusted EBITDA between $625 million and $675 million, amid ongoing production outages affecting results.
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