Trinseo PLC Announces Third Quarter 2024 Financial Results and Investor Call

by · The Cerbat Gem

Trinseo PLC, an Irish-based public limited company, has released its financial results for the third quarter ending September 30, 2024. The company reported a net loss of $87 million with an EPS of negative $2.47. These results included pre-tax restructuring and other charges totaling $26 million related to recently announced restructuring initiatives. Adjusted EBITDA stood at $66 million, showing a $25 million increase compared to the previous year.

In light of these financial results, Trinseo PLC is set to hold an investor call and webcast on November 7, 2024, at 10 AM Eastern Time. The company also made available an investor presentation on its website, discussing the financial results and strategies moving forward.

Trinseo PLC’s key initiatives include restructuring actions to consolidate business roles, with expected cost savings of $25 million in 2025 and further savings by the end of 2026.

The company has outlined its Q4 2024 outlook, projecting a net loss ranging from $81 million to $71 million and an Adjusted EBITDA of $40 million to $50 million. Trinseo PLC anticipates lower profitability in Q4 due to year-end seasonality but expects cash flow to turn positive with seasonal working capital improvements.

Sales performance across different regions showed variations, with increased volumes in some sectors offset by lower volumes in others. Trinseo PLC noted a rise in sales volumes of recycled-content-containing products, signaling a positive trend for sustainability efforts.

Debt and liquidity figures as of September 30, 2024, indicated cash on hand of $167 million, including $2 million in restricted cash, with additional liquidity of $177 million available under committed financing facilities.

Trinseo PLC’s financial report underscored a focus on cost-saving measures, restructuring initiatives, and strategic shifts towards more sustainable product lines. The company remains vigilant in monitoring the market landscape and adapting its operations to navigate evolving economic conditions and industry challenges.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Trinseo’s 8K filing here.

Trinseo Company Profile

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Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.

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