Welcome to our dedicated page for Trinseo Plc news (Ticker: TSE), a resource for investors and traders seeking the latest updates and insights on Trinseo Plc stock.
News about Trinseo PLC (NYSE: TSE) focuses on its role as a specialty material solutions provider and manufacturer of plastics and latex binders, as well as on developments that affect its financial performance and capital structure. Company press releases and SEC-related announcements cover topics such as quarterly financial results, restructuring plans, product initiatives and interactions with the New York Stock Exchange’s continued listing standards.
Investors following TSE news will see regular earnings releases in which Trinseo reports net sales, net loss, Adjusted EBITDA, Free Cash Flow and segment performance for Engineered Materials, Latex Binders and Polymer Solutions, along with equity income from Americas Styrenics. These updates often include commentary on demand trends in building and construction, consumer goods, medical and mobility applications, as well as the impact of competitive pricing pressure and restructuring savings.
Another important category of news involves restructuring and operational changes, particularly in Europe. Trinseo has announced plans to permanently close MMA and ACH production operations in Italy while continuing PMMA operations and a depolymerization pilot facility, and to close polystyrene production in Schkopau, Germany while consolidating production in Tessenderlo, Belgium. These actions are described as intended to improve profitability and reduce capital expenditures over time.
Trinseo news also highlights sustainability and circular materials initiatives, such as the availability of STYRON polystyrene, MAGNUM ABS and TYRIL SAN resins produced with chemically recycled styrene monomer obtained through depolymerization of polystyrene household packaging waste. In addition, capital allocation decisions, including the suspension of the quarterly dividend, and disclosures about NYSE notices regarding minimum market capitalization and share price standards appear in the company’s news flow.
By monitoring this news stream, readers can follow how Trinseo communicates its financial results, restructuring progress, product developments and listing status, as well as how it describes demand conditions across its key end markets.
Trinseo (NYSE: TSE) has commenced an information and consultation process with its Works Council regarding the potential closure of its styrene monomer production facility in Boehlen, Germany, which has a capacity of 300 kilotons. The site recorded a loss of approximately $30 million over the past year due to high energy costs and low customer demand. CEO Frank Bozich noted the challenges facing the facility and indicated that closure could enhance profitability and support the company's sustainability goals for 2030.
Trinseo (NYSE: TSE) announced a quarterly cash dividend of $0.32 per share, payable on October 20, 2022, to shareholders recorded as of October 6, 2022. The company reported net sales of approximately $4.8 billion in 2021 and specializes in material solutions across various industries, including consumer goods and medical. This dividend reflects Trinseo's commitment to providing returns to its shareholders while maintaining a focus on innovative and sustainable practices.
Trinseo (NYSE: TSE) has authorized a new share repurchase program of up to $200 million, set to expire in 18 months. This follows the full utilization of a previous $200 million buyback initiated in December 2021. The program aims to enhance shareholder value while supporting the company's transformation in specialty materials. CEO Frank Bozich highlighted the company's strong cash generation and strategic growth opportunities as key reasons for the program's initiation.
Trinseo (NYSE: TSE) has appointed Han Hendriks as Chief Technology Officer (CTO), effective October 1, 2022. As a member of the executive leadership team, he will focus on developing innovative technologies and sustainable solutions. Hendriks previously served as CTO at Yanfeng, where he led technology vision and strategy. His background includes a 16-year tenure at Johnson Controls and experience at Fluke and Océ. Trinseo aims to leverage his expertise during its transformation into a specialty material solutions provider.
Trinseo (NYSE: TSE) reported its Q2 2022 results, showing a net income from continuing operations of $37 million and a diluted EPS of $1.00. Net sales increased by 12% to $1.426 billion, mainly driven by higher prices due to increased raw material costs. Adjusted EBITDA was $164 million, down $75 million year-over-year due to lower margins and sales volume. Cash used in operations was $83 million, resulting in a negative Free Cash Flow of $115 million. The company paused its sale of the styrenics business amid economic uncertainties but remains committed to its transformation strategy.
Trinseo (NYSE: TSE) has paused the sale of its styrenics business due to unfavorable economic conditions and financing markets, which have hindered the realization of expected asset value. Initially exploring the divestiture in November 2021, the company received significant interest but could not proceed amid economic uncertainty, particularly related to the Ukraine conflict. CEO Frank Bozich reiterated the commitment to their transformation strategy while utilizing current cash generation for organic growth, sustainability initiatives, and returning cash to shareholders.
Trinseo has launched ALTUGLAS™ R-Life Acrylics, a new series of sustainable materials, in the European market. This brand includes recycled and bio-based PMMA for various applications, with products such as extruded sheets, cast sheets, and acrylic resins. The products reduce global warming potential significantly, achieving up to a 53% reduction for extruded sheets. This series underscores Trinseo's commitment to sustainability and innovative recycling technologies.
Trinseo (NYSE: TSE) will host a conference call on August 9, 2022, at 10 a.m. Eastern Time to discuss its Q2 2022 financial results. Commentary will be provided by CEO Frank Bozich and CFO David Stasse, followed by a Q&A session. The company plans to release its financial results on August 8, 2022, after market close. Trinseo reported approximately $4.8 billion in net sales for 2021. Participants can register for the event via the provided links for both Q&A and listening options.
Trinseo (NYSE: TSE) has partnered with CEDAP to supply recycled polystyrene (rPS) for yogurt cups of the French brand Les 300 Laitiers Bio since April 2022. Utilizing Trinseo's STYRON™ CO2RE™ CR55 resin, which contains 55% recycled content, CEDAP produces PS sheets that are thermoformed for final products. All involved companies are ISCC+ mass balance certified, ensuring sustainable practices. A lifecycle analysis revealed that using rPS can reduce CO2 emissions by 75%. This collaboration underscores Trinseo's commitment to sustainability and innovation in materials.
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