- Italian steel pipe maker Trinseo (NYSE:TSE) expects net loss for the fourth quarter from continuing operations of $367M to $362M and full-Year 2022 expected results net loss from continuing operations of $432M to $427M.
- Fourth quarter cash from operations of $32M to $37M and capital expenditures of approximately $54M.
- The company said Q4 net loss includes a pre-tax, non-cash goodwill impairment charge of $297M related to the PMMA business and Aristech Surfaces reporting units.
- "Sales volume has been impacted by weak underlying demand and continued customer destocking. In addition, both volume and margins were pressured as elevated natural gas prices in Europe and low demand in China created an arbitrage window for lower-cost commodity products from Asia to be more heavily imported into Europe and North America," the company said.