Trinseo Q1 net loss $49M; FY Adj EBITDA guidance cut to $275M-$325M from $375M-$425M

Trinseo PLC

2023-Q1 EPS reported -$1.40 revenue$996,300,000

Q1 net loss $49M (-$1.40/sh) vs prior-year net income $17M; Adjusted EBITDA $36M vs $178M YoY.
FY2023 Adjusted EBITDA guidance lowered to $275M-$325M (midpoint ~$300M) from $375M-$425M; net loss forecast $61M-$94M.
Cash improvement initiatives target >$100M benefit in 2023; Q1 Free Cash Flow $24M; FY FCF outlook raised to ~$75M from breakeven.
Cash dividend to be substantially reduced starting Q3 2023; Styrenics sales process restarted; Matamoros PMMA sale for $19M expected to close Q2.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Trinseo PLC reported first quarter ended March 31, 2023 results: revenue $996, net income $(49), EPS $(1.40).

Period: first quarter ended March 31, 2023
Revenue: $996
Net income: $(49)
EPS: $(1.40)
Result: reported results

Exact text from the filing

Three Months Ended March 31, $millions, except per share data 2023 2022 Net Sales $ 996 $ 1,387 Net Income (Loss) from continuing operations (49) 17 Diluted EPS from continuing operations ($) (1.40) 0.45

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Source: SEC EDGAR

accession 0001558370-23-008123

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