Trinseo looks to recover from sales losses of 2020
Materials firm Trinseo reported lower sales overall and in its plastics-related businesses in 2020.
Total sales at Berwyn, Pa.-based Trinseo were down almost 20 percent for the year to just over $3 billion, as profit plunged more than 90 percent to $8 million.
Sales for the firm s synthetic rubber unit, which is being considered for a sale, were down 28 percent to $319 million, with Base Plastics unit sales including ABS and polycarbonate resins, as well as compounds and blends for automotive and other applications down almost 21 percent to $918 million.
Unit sales in Polystyrene and Engineered Materials saw less steep declines for the year. Polystyrene sales, not counting Trinseo s Americas Styrenics joint venture with Chevron Phillips Chemical Co., were down almost 14 percent to $698 million. Engineered Materials sales, including compounds and blends sold into consumer electronics and medical uses, as well as thermoplastic
2 months ago
Fourth Quarter 2020 Summary
Net income of $67 million and diluted EPS of $1.71; Adjusted EBITDA of $149 million and Adjusted EPS of $1.84, inclusive of a pre-tax favorable net timing impact of $29 million
Cash from operations of $128 million; Free Cash Flow of $106 million
Full Year 2020 Summary
Net income of $8 million and diluted EPS of $0.20; Adjusted EBITDA of $299 million and Adjusted EPS of $2.05, inclusive of a pre-tax unfavorable net timing impact of $27 million
Cash from operations of $255 million, Free Cash Flow of $173 million, and year-ending cash and cash equivalents of $589 million
BERWYN, Pa.–(BUSINESS WIRE)–Trinseo (NYSE: TSE):
Three Months Ended For a reconciliation of EBITDA, Adjusted EBITDA, and Adjusted Net Income, all of which are non-GAAP measures, to Net Income, as well as a reconciliation of Free Cash Flow and Adjusted EPS, see Notes 2 and 3 to the financial statements included
Fourth Quarter 2020 SummaryNet income of $67 million and diluted EPS of $1.71; Adjusted EBITDA of $149 million and Adjusted EPS of $1.84, inclusive of a pre-tax favorable net timing impact of $29 millionCash from operations of $128 million; Free Cash Flow of $106 millionFull Year 2020 SummaryNet income of $8 mill.