Trinseo reported a net loss from continuing operations of $49 million and adjusted EBITDA of $36 million for Q1 2023. Sales decreased by 28% compared to the prior year, driven by lower volume and prices. The company is implementing cash improvement initiatives and restarting the sales process for its Styrenics business.
Net loss from continuing operations was $49 million, with diluted EPS of negative $1.40.
Adjusted EBITDA was $36 million, including unfavorable impacts from natural gas hedges and fixed cost under absorption.
Free Cash Flow was $24 million, driven by a decrease in working capital.
Implemented cash improvement initiatives expected to improve cash generation by over $100 million in 2023.
Trinseo anticipates performance will significantly improve in the second quarter from lower raw material and Corporate costs, better fixed cost absorption and a lower natural gas hedge loss. The range of the full-year outlook reflects no sales volume improvement at the low end and a ten percent improvement at the high end.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance