Trinseo (TSE) Misses Q1 EPS by 32c; Offers Guidance

Trinseo (NYSE: TSE) reported Q1 EPS of ($1.01), $0.32 worse than the analyst estimate of ($0.69). Revenue for the quarter came in at $996 million versus the consensus estimate of $1.08 billion.

2023 Outlook

Second quarter 2023 net loss from continuing operations of approximately $15 million and Adjusted EBITDA of approximately $80 million
Full-year 2023 net loss from continuing operations of $94 million to $61 million and Adjusted EBITDA of $275 million to $325 million (prior outlook of net income from continuing operations of $3 million to $33 million and Adjusted EBITDA of $375 million to $425 million†); lower Adjusted EBITDA outlook of $100 million at the midpoint due to $45 million of estimated natural gas hedge losses, $10 million of first quarter fixed cost under absorption, and the remainder from lower sales volume including extended destocking and an overall slower market recovery
Full-year 2023 cash from operations of approximately $165 million resulting in Free Cash Flow of approximately $75 million (prior outlook of cash from operations of approximately $100 million and breakeven Free Cash Flow†); higher Free Cash Flow outlook despite lower profitability due to cash improvement actions.

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

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