Trinseo plc

04/30/2026 | Press release | Distributed by Public on 04/30/2026 08:21

Trinseo Reports First Quarter 2026 Financial Results (Form 8-K)

Trinseo Reports First Quarter 2026 Financial Results

First Quarter 2026 Highlights

● Net loss of $116 million and EPS of $(3.20) included $31 million of pre-tax charges, primarily related to ongoing lender negotiations and asset restructuring programs
● Adjusted EBITDA* of $53 million was $12 million below prior year, which included $26 million of polycarbonate technology licensing income, partially offset by savings from previously announced restructuring actions
● Cash used in operating activities of $233 million and capital expenditures of $11 million resulted in Free Cash Flow* of negative $244 million and ending cash of $114 million (of which $4 million was restricted) and total liquidity of $114 million
● In April, the Company amended its revolving credit facility to add $50 million of incremental commitments, enhancing near-term liquidity

Three Months Ended

March 31,

$millions, except per share data

2026

​ ​ ​

2025

Net Sales

​ ​ ​

$

725

​ ​ ​

$

785

Net Loss

(116)

(79)

Diluted EPS ($)

(3.20)

(2.22)

Adjusted Net Loss*

(75)

(49)

Adjusted EPS ($)*

(2.06)

(1.37)

EBITDA*

22

30

Adjusted EBITDA*

53

65

Cash used in operating activities

(233)

(110)

Free Cash Flow*

(244)

(119)

*For a reconciliation of EBITDA, Adjusted EBITDA, and Adjusted Net Loss, all of which are non-GAAP measures, to Net Loss, as well as a reconciliation of Free Cash Flow and Adjusted EPS, see Notes 2 and 3 to the financial statements included below.

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WAYNE, Pa - April 30, 2026 - Trinseo a specialty material solutions provider, today reported its first quarter 2026 financial results. Net sales of $725 million decreased 8% compared with the prior year, driven by 9% lower prices across all business segments due to competitive pressures and lower raw material costs and 4% decrease from volumes, partially offset by a 5% favorable currency impact. First quarter net loss of $116 million was $37 million lower than prior year. The current year quarter included $31 million of pre-tax charges primarily related to costs incurred in connection with ongoing lender negotiations and asset restructuring programs. Adjusted EBITDA of $53 million was $12 million below prior year, driven by $26 million of polycarbonate technology licensing income in the prior year, partially offset by savings from previously announced restructuring actions.

First quarter cash used in operating activities of $233 million and capital expenditures of $11 million led to Free Cash Flow* of negative $244 million. Free cash flow was affected by three primary factors - typical first quarter seasonality, a contraction in trade credit from suppliers and other counterparties, and higher raw material costs.

First Quarter Results and Commentary by Business Segment

● Engineered Materials net sales of $263 million for the quarter decreased 5% versus prior year primarily due to lower prices and lower MMA volumes following the closure of our virgin MMA production facilities in Italy. Adjusted EBITDA of $34 million increased $8 million versus prior year due to savings from closing our aforementioned MMA facilities, share gain in PMMA products in Europe, and strategic margin expansion initiatives in our surfaces products in North America.
● Latex Binders net sales of $197 million for the quarter decreased 6% versus prior year from lower prices, primarily in paper and board and textile applications globally. Adjusted EBITDA of $16 million was $8 million below prior year from weak demand and low margins in paper and board and textile applications mainly in Europe. Net sales to CASE and battery binders applications accounted for 19% of total segment net sales, with volume increasing 14% over prior year in a soft market environment.
● Polymer Solutions net sales of $265 million for the quarter decreased 11% versus prior year from lower prices and lower polystyrene volumes. Adjusted EBITDA of $24 million was $20 million below prior year, primarily due to $26 million of polycarbonate licensing income in the prior year, partially offset by mix improvement. The favorable mix stems from higher ABS volumes in North America from share gain, which were offset by lower polystyrene volumes in Europe due to strategically optimized customer mix.
● Americas Styrenics Adjusted EBITDA of $2 million for the quarter was $4 million above prior year from stronger styrene and polystyrene performance.

Commenting on the Company's first quarter performance, Frank Bozich, President and Chief Executive Officer of Trinseo, said, "Amidst dynamic market and macroeconomic conditions during the first quarter, our team demonstrated remarkable resilience. We continued to build for the future across our priority areas like battery binders, CASE, PMMA, Asia, and recycled content containing platforms to drive profitable, sustainable growth. I am grateful for the dedication and impact of our entire workforce, who have demonstrated their commitment throughout this quarter. Our mission remains clear: deliver unmatched materials and service excellence for our customers, while navigating significant geopolitical uncertainty."

About Trinseo

Trinseo, a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart and sustainably focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.

From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers' unique challenges in a wide range of industries, including building and construction, consumer goods, medical and mobility.

Trinseo's employees bring endless creativity to reimagining the possibilities with clients all over the world from the company's locations in North America, Europe and Asia Pacific. Trinseo reported net sales of approximately $3.0 billion in 2025. Discover more by visiting www.trinseo.com and connecting with Trinseo on LinkedIn, Twitter, Facebook and WeChat.

Use of non-GAAP measures

In addition to using standard measures of performance and liquidity that are recognized in accordance with accounting principles generally accepted in the United States of America ("GAAP"), we use additional measures of income excluding certain GAAP items ("non-GAAP measures"), such as Adjusted Net Income (Loss), EBITDA, Adjusted EBITDA and Adjusted EPS and measures of liquidity excluding certain GAAP items, such as Free Cash Flow. We believe these measures are useful for investors and management in evaluating business trends and performance each period. These measures are also used to manage our business and assess current period profitability, as well as to provide an appropriate basis to evaluate the effectiveness of our pricing strategies. Such measures are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance or liquidity, as applicable. The definitions of each of these measures, further discussion of usefulness, and reconciliations of non-GAAP measures to GAAP measures are provided in the Notes to Condensed Consolidated Financial Information presented herein.

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Trinseo plc published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 30, 2026 at 14:23 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]