Trinseo announces financial results for Q3
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.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
- Uptrend in China’s import PP market continues but cautious mood returns
- Hikes in Asia July PVC offers baffle some buyers, further rally under discussion