Trinseo’s net loss narrows in Q1 2024
Trinseo’s first quarter adjusted EBITDA was $45 million, up from $20 million up from the previous quarter and $36 million in the year-ago period. Despite this, net loss was larger year-over-year due to higher interest and income tax expenses.
The company’s net sales were $904 million in the first quarter, down from $996 million in Q1 2023. The decline was attributed to lower price and pressure from weak polystyrene and ABS market conditions.
Furthermore, the company reported net sales of $208 million for polystyrene, down by 14% when compared to the previous year. Weak market conditions in Europe led to lower polystyrene prices and sales volume, the company said.
Trinseo forecasts Q2 results to improve with the expected loss to narrow to around $53 million to $38 million from the current $76 million loss, while Q2 EBITDA may go up to $60 million to $75 million from Q1 $45 million EBITDA.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs