Trinseo's fourth quarter 2024 results showed a 2% decrease in net sales compared to the prior year, primarily due to lower sales volumes across all business segments. Despite this, the company significantly improved its net loss by $147 million, largely due to a lower provision for income taxes. Adjusted EBITDA also saw an increase, although it was impacted by unfavorable net timing.
Cash provided by operations was $85 million and capital expenditures were $21 million, resulting in Free Cash Flow of $64 million, a $67 million improvement sequentially and year-over-year.
Net loss of $118 million included pre-tax restructuring and other charges of $28 million, primarily related to the decommissioning of the Stade, Germany polycarbonate plant, with an EPS of negative $3.33.
Adjusted EBITDA was $26 million, including a $9 million unfavorable impact from net timing and an additional $15 million unfavorable net timing impact at Americas Styrenics.
Fourth quarter ending cash was $212 million (of which $2 million was restricted) and total liquidity was $354 million; pro-forma for the January 2025 refinancing transaction, total liquidity was $492 million.
For the first quarter of 2025, Trinseo expects a net loss between $(55) million and $(40) million, and Adjusted EBITDA between $65 million and $80 million, including approximately $26 million from the polycarbonate technology license agreement.
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