Trinseo announces financial results for Q3
by ChemOrbis Editorial Team - content@chemorbis.com
Trinseo announced its financial results for the third quarter of 2016, according to a press release published on the company’s website. Trinseo reported $67 million net income in the July-September period from $52 million in last year on the back of favorable raw material timing.
The company’s revenue fell by 9% from $1,028 million a year earlier to $935 million in the third quarter due to lower prices. Adjusted earnings before Interest, tax, depreciation and amortization (EBITDA), meanwhile, rose to $143 million in Q3 from $116 million a year earlier.
Basic Plastics and Feedstocks revenue dropped 13% year over year to $405 million. However, adjusted EBITDA for this segment reached $86 million in the July-September period, up $16 million from the previous year.
Trinseo’s President Chris Pappas stated that performance shows an improvement on a yearly basis in Performance Materials and Basic Plastics & Feedstocks while he added that they expect the performance in these segments will be steady for the last quarter of the year due to reduced planned maintenance and ongoing low inventory levels of styrenics.
The company’s revenue fell by 9% from $1,028 million a year earlier to $935 million in the third quarter due to lower prices. Adjusted earnings before Interest, tax, depreciation and amortization (EBITDA), meanwhile, rose to $143 million in Q3 from $116 million a year earlier.
Basic Plastics and Feedstocks revenue dropped 13% year over year to $405 million. However, adjusted EBITDA for this segment reached $86 million in the July-September period, up $16 million from the previous year.
Trinseo’s President Chris Pappas stated that performance shows an improvement on a yearly basis in Performance Materials and Basic Plastics & Feedstocks while he added that they expect the performance in these segments will be steady for the last quarter of the year due to reduced planned maintenance and ongoing low inventory levels of styrenics.
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