Thu, May 8, 4:22 PM (7 days ago)
**Trinseo PLC (TSE) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $784.8 million, down 13% YoY due to lower sales volumes and strategic exits from low-margin businesses. - **Gross Profit:** $63.8 million, up $3.2 million YoY, driven by higher margins from improved product mix and moderating input costs. - **Operating Loss:** $29.0 million, compared to $3.3 million in Q1 2024, due to increased SG&A expenses and lower earnings from Americas Styrenics. - **Net Loss:** $79.0 million, compared to $75.5 million in Q1 2024. - **Adjusted EBITDA:** $92.9 million, up from $71.4 million in Q1 2024, including $26.0 million from polycarbonate technology licensing income. **Cash Flow:** - **Operating Cash Flow:** $(110.2) million, impacted by a $102.6 million increase in working capital. - **Investing Cash Flow:** $(8.7) million, primarily due to capital expenditures. - **Financing Cash Flow:** $32.8 million, including proceeds from the Accounts Receivable Securitization Facility and debt refinancing. **Debt and Liquidity:** - **Total Debt:** $2,460.0 million, with significant refinancing activities completed in Q1 2025. - **Liquidity:** $416.8 million, comprising $121.5 million in cash and $295.3 million in available borrowing capacity. **Segment Performance:** - **Engineered Materials:** Net sales down 2%, Adjusted EBITDA up 147% due to higher margins. - **Latex Binders:** Net sales down 13%, Adjusted EBITDA down 5% due to lower sales volumes. - **Polymer Solutions:** Net sales down 22%, Adjusted EBITDA up 53% due to licensing income and lower fixed costs. - **Americas Styrenics:** Adjusted EBITDA down due to lower polystyrene volumes and higher raw material costs. **Outlook:** - **Q2 2025:** Expected seasonally stronger volumes in building and construction, lower costs in Engineered Materials, and higher Americas Styrenics earnings. - **Liquidity:** Maintained through recent refinancing actions and available borrowing capacity. **Uncertainties and Future Operations:** - **Economic Conditions:** Uncertain geopolitical conditions may impact Q2 results. - **Strategic Initiatives:** Continued focus on liquidity improvement, cost management, and potential divestitures. **Ticker:** TSE