Trinseo (TSE) Misses Q2 EPS by 42c, Beat on Revenues; Offers FY EPS Guide Below Consensus

Trinseo (NYSE: TSE) reported Q2 EPS of $1.39, $0.42 worse than the analyst estimate of $1.81. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.08 billion.

Outlook

Third quarter 2017 net income of $50 million to $58 million, and earnings per diluted share of $1.10 to $1.28
Third quarter 2017 Adjusted EBITDA of $110 million to $120 million and Adjusted EPS of $1.10 to $1.28
Full year 2017 net income of $294 million to $302 million and earnings per diluted share of $6.51 to $6.69
Full year 2017 Adjusted EBITDA of $550 million to $560 million and Adjusted EPS of $6.40 to $6.58
Full year guidance updated and in line with guidance from first quarter earnings call except for $55 million of additional unfavorable net timing impacts. This guidance excludes the impact of anticipated debt refinancing activities.

Commenting on the outlook for the third quarter and full year 2017 Pappas said, “We expect strong business fundamentals through 2017 and our growth initiatives continue as planned. Our full year guidance for Trinseo remains as outlined in our first quarter earnings call with the exception of additional unfavorable net timing impacts of $55 million due to rapidly declining raw material prices in the second and third quarters.”

GUIDANCE:

Trinseo sees FY2017 EPS of $6.40-$6.58, versus the consensus of $7.63.

For earnings history and earnings-related data on Trinseo (TSE) click here.

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