Trinseo (TSE) Reports Q2, Announces Additional Restructuring, Updates 2023 Outlook
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Trinseo Reports Second Quarter 2023 Financial Results, Announces Additional Restructuring Initiatives and Updates 2023 Outlook
August 3, 2023 4:15 PM EDTSecond Quarter 2023
Net loss from continuing operations of $349 million and diluted EPS from continuing operations of negative $9.93 Net loss includes a pre-tax, non-cash goodwill impairment charge of $349 million related to the Engineered Materials reporting unit Adjusted EBITDA* of $57 million, including unfavorable impacts of $16 million from net timing, $12 million from natural gas hedges and $4 million from fixed cost under absorption due to inventory reduction initiatives; Adjusted Net Loss* of $68 million Cash provided by operations of $57 million and capital expenditures of $14 million resulted in Free Cash Flow* of $43 million including a $52 million... More