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Trinseo Warned by NYSE for Non-Compliance
Trinseo announced that on December 12, the company received a notice from the NYSE informing the company that it is not currently in compliance with Section 802.01B of the NYSE Listed Company Manual because its 30 trade-day average market capitalization was less than the NYSE's minimum market capitalization requirement of $50M and Section 802.01C of the NYSE Listed Company Manual because the average closing price of its ordinary shares had fallen below $1.00 per share over a period of 30 consecutive trading days.
Alembic Downgrades Trinseo to Neutral with $1 Price Target
Alembic Global analyst Hassan Ahmed downgraded Trinseo to Neutral from Overweight with a $1 price target.
Trinseo projects adjusted EBITDA of $167M-$177M for FY25
Commenting on the full year outlook, Bozich said, "We anticipate Adjusted EBITDA of approximately $30 million to $40 million and sequentially better free cash flow for the fourth quarter. This forecast assumes a continuation of the higher level in demand in our formulated products through November, but an exaggerated seasonal effect in December. We will remain intensely focused on what is in our control, including improving our free cash flow in the short and long term through working capital management, restructuring activities and other actions."
Trinseo Announces Q3 Adjusted EPS of $2.41, Exceeding Consensus Estimate of $1.90
Reports Q3 revenue $743M vs $868M last year.
Trinseo Introduces New Resins Made from Chemically Recycled Monomer
Trinseo announced it has started receiving chemically recycled styrene monomer from its partner, Indaver, and will now offer its STYRON Polystyrene, MAGNUM ABS, and TYRIL SAN resins manufactured with the recycled material. The monomer is produced at Indaver's newly operational plant in Antwerp, Belgium, which uses polystyrene household packaging waste. Trinseo's portfolio of STYRON Polystyrene resins, MAGNUM ABS resins, and TYRIL SAN resins can be manufactured with chemically recycled SM1 produced according to the mass balance principle, meaning they are drop-in equivalents of their fossil-based counterparts, including for food contact applications.
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