Trinseo Plc Stock Price, News & Analysis

Trinseo (NYSE: TSE), a specialty material solutions provider, has announced a quarterly dividend of $0.01 per share. The cash distribution will be payable on April 24, 2025, to shareholders of record as of the close of business on April 10, 2025.

Trinseo (NYSE: TSE) reported Q4 2024 financial results with net sales of $821 million, down 2% from prior year. The company posted a Q4 net loss of $118 million, with EPS of negative $3.33. Adjusted EBITDA was $26 million, including $9 million unfavorable impact from net timing.

Key Q4 highlights include $85 million cash from operations and Free Cash Flow of $64 million. The company ended Q4 with $212 million in cash and total liquidity of $354 million. Trinseo agreed to sell its Stade, Germany polycarbonate assets for $52 million.

For full-year 2024, Trinseo reported net sales of $3.5 billion (down 4% YoY), net loss of $349 million, and Adjusted EBITDA of $204 million (up $50 million YoY). The company provided Q1 2025 outlook with expected net loss of $40-60 million and Adjusted EBITDA of $60-80 million, including $26 million from a polycarbonate technology license agreement.

Trinseo (NYSE: TSE) has scheduled its fourth quarter and full year 2024 financial results conference call for Thursday, February 13 at 10 a.m. Eastern Time. The company will release its financial results and presentation slides on Wednesday, February 12, 2024, after market close via Business Wire and the company's Investor Relations website.

The conference call will feature Frank Bozich (President and CEO), David Stasse (EVP and CFO), and Bee van Kessel (SVP, Corporate Finance & Investor Relations). The call will include introductory comments followed by a Q&A session. Participants can register for either the full conference call with Q&A capabilities or the listen-only webcast option.

A replay of the conference call and transcript will be available on the company's Investor Relations website until February 13, 2026.

Trinseo PLC (NYSE: TSE) announced the completion of its private exchange offer for its 5.125% Senior Notes due 2029. Approximately $446.5 million in aggregate principal amount of Existing Notes (99.88% of total outstanding) were validly tendered. The New Issuers will issue about $379.5 million in aggregate principal amount of new 7.625% Second Lien Secured Notes due 2029, at an exchange rate of $850 in New Notes per $1,000 of Existing Notes.

The settlement is expected on January 17, 2025, when accrued and unpaid interest will be paid in cash. The company received sufficient consents to modify the existing indenture, eliminating most restrictive covenants, certain default events, and releasing existing subsidiary guarantees.

Trinseo PLC (NYSE: TSE) has announced that its subsidiaries have launched a private exchange offer for their outstanding 5.125% Senior Notes due 2029. Holders can exchange each $1,000 of existing notes for $850 of new 7.625% Second Lien Senior Secured Notes due 2029. The exchange offer includes a consent solicitation to modify the existing notes' terms, requiring over 50% holder approval.

The company has already secured support from holders representing approximately 74% of the existing notes through a transaction support agreement. The exchange offer will expire on January 15, 2025, with a withdrawal deadline of January 2, 2024. The new notes will be secured by second-priority security interests in various company assets and guaranteed by Trinseo and several subsidiaries.

Trinseo PLC (NYSE: TSE) has entered into a Transaction Support Agreement (TSA) with certain creditors to refinance near-term debt maturities and enhance liquidity. The agreement includes: redeeming $115 million 2025 Senior Notes through new 2028 Refinance Term Loans, establishing a new $300 million revolving credit facility maturing in 2028, and exchanging at least $330 million of 2029 Senior Notes for new 2029 Second Lien Senior Secured Notes at a discount, providing $49 million in savings.

The Supporting Creditors represent approximately 74% of 2029 Senior Notes, 89% of revolving commitments, and 58% of term loans. The transactions are expected to close in January 2025, extending the company's nearest debt maturity to 2028.

Trinseo (NYSE: TSE), a specialty material solutions provider, has announced a quarterly dividend of $0.01 per share. The cash distribution will be payable on January 23, 2025, to shareholders of record as of the close of business on January 9, 2025.

Trinseo (NYSE: TSE) has announced agreements to provide a polycarbonate technology license and polycarbonate production equipment from its Stade, Germany facility to Deepak Chem Tech , a subsidiary of Deepak Nitrite , for use in India. The total value of the agreements is $52.5 million, with expected payments of approximately $9 million by end of 2024 and $21 million in first half of 2025, subject to milestones. Following this asset disposition, Trinseo will exit the Stade site. This move aligns with Trinseo's recent decision to exit virgin polycarbonate production while exploring strategic partnerships in high-growth markets.

Trinseo (NYSE: TSE) reported a third quarter 2024 net loss of $87 million ($2.47 per share), with net sales of $868 million, down 1% from prior year. The company posted Adjusted EBITDA of $66 million, representing a $25 million increase from the previous year. The quarter saw improved results across all business segments except Americas Styrenics. The company announced restructuring initiatives expected to yield cost savings of $25 million in 2025 and $30 million by end of 2026. Cash position stood at $167 million with $177 million additional available liquidity. Fourth quarter 2024 outlook projects net loss between $81-71 million and Adjusted EBITDA of $40-50 million.