Trinseo Reports First Quarter 2020 Financial Results; Provides COVID-19 Update
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Trinseo (TSE) Tops Q1 EPS by 19c, Revenues Miss
May 6, 2020 4:41 PM EDTTrinseo (NYSE: TSE) reported Q1 EPS of $0.26, $0.19 better than the analyst estimate of $0.07. Revenue for the quarter came in at $854 million versus the consensus estimate of $915.72 million.
First Quarter 2020 and Other Highlights
Liquidity-focused actions taken in response to COVID-19 to improve the already strong position, including the reduction of capital spending, operating expenses, and working capital, which resulted in quarter-ending cash and cash equivalents of $440 million and Liquidity* of $937 millionNet loss of $36 million and diluted EPS of ($0.94), inclusive of a one-time pre-tax $38 million charge related to the impairment of certain long-lived... More