The following is a summary of the Trinseo PLC (TSE) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Trinseo's cash on their balance sheet rose by $47 million year-over-year from positive free cash flow, even amidst harsh economic conditions.

• Trinseo anticipates a considerably higher Q1 profitability compared to Q4, with a projected adjusted EBITDA around $40 million to $50 million.

• Through restructuring actions and lower natural gas hedge losses, Trinseo expects considerably higher profitability in 2024, adding approximately $100 million of sequential benefit.

• Trinseo has made significant reductions in fixed costs since 2022, down $70 million, counteracting inflation and resulting in improved profitability and cash flow.

Business Progress:

• Trinseo made significant strides in sustainability initiatives, including advancements in recycling that contribute to the circular economy.

• The company launched operations at its polycarbonate dissolution pilot plant and will open its PMMA depolymerization plant this quarter.

• It sees a 16% YoY growth in sales of recycled products, with more growth expected as recycling operations grow.

• The company boasts a 72% Triple Zero Award at relevant sites, reflecting excellent environmental, health, and safety performance.

• Trinseo anticipates higher volumes and profitability in 2024, and is looking into additional opportunities to cut costs and optimize the supply chain.

• Trinseo plans a disciplined cash focus for 2024, with lower-than-historical CapEx of about $70 million and continues to make progress in reducing working capital days.

• Trinseo is shifting its business model from being a styrene producer to a styrene buyer, suggesting a significant strategic change.

More details: Trinseo IR

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