Trinseo's first quarter 2024 net sales decreased by 9% year-over-year, while sales volumes excluding styrene-related sales were the highest since Q3 2022. The company reported a net loss of $76 million, but adjusted EBITDA increased to $45 million, including a $13 million favorable impact from net timing.
Net loss of $76 million and EPS of negative $2.14.
Adjusted EBITDA of $45 million, including a $13 million favorable impact from net timing; Adjusted Net Loss of $69 million.
Cash used in operations of $66 million and capital expenditures of $16 million resulted in Free Cash Flow of negative $82 million.
First quarter ending cash of $171 million, of which $5 million was restricted, with approximately $252 million of additional available liquidity.
Trinseo anticipates a sequential improvement in profitability, driven by the completion of a turnaround at Americas Styrenics and seasonally stronger demand in building and construction applications. Continued tightness in styrene and MMA markets is expected to support higher margins, with an anticipated improvement in free cash flow.
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