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Trinseo (TSE) investor relations material
Trinseo Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Q3 2025 net loss was $110 million, with adjusted EBITDA at $30 million, impacted by unfavorable raw material timing, negative equity income from Americas Styrenics, and weak demand, partially offset by restructuring savings.
Net sales declined 14% year-over-year to $743 million, mainly due to lower volumes and margin compression, especially in Europe.
Announced discontinuation of virgin MMA production in Italy and planned closure of a German polystyrene facility, targeting $30 million annualized profitability improvement and $10 million in capital expenditure reduction.
Major restructuring and refinancing actions were implemented, including suspension of the dividend and extension of debt maturities to 2028, to preserve liquidity.
Strategic focus on growth platforms and recycling initiatives, with pilot plants for recycled polycarbonate, ABS, and MMA sold out and plans to scale up.
Financial highlights
Q3 2025 adjusted EBITDA was $30 million, with net sales of $743 million and a net loss of $110 million; gross margin was 5%.
Free cash flow for Q3 was negative $38 million; quarter-end liquidity was $346 million, with cash of $112–114 million.
Operating loss for Q3 was $28 million; interest expense was $71 million.
Adjusted EBITDA margin was 4% for Q3 2025.
Total debt at September 30, 2025 was $2.57 billion.
Outlook and guidance
Q4 2025 adjusted EBITDA expected at $30–$40 million, with a projected net loss of $170–$180 million and positive free cash flow of $20 million.
Year-end liquidity is forecasted at $350–$365 million.
FY 2025 net loss forecasted at $408–418 million and adjusted EBITDA at $167–177 million.
Management remains focused on cost savings, inventory management, and restructuring to improve free cash flow.
Free cash flow in Q4 is expected to improve sequentially due to working capital release from year-end seasonality.
When will restructuring benefits materialize
Detail FCF improvement drivers for Q4
Elaborate on potential reshoring trends
Which Asian countries drive US/EU ABS/PMMA imports?
EU vehicle directive: expected demand impact?
Restructuring: expected EBITDA improvement next year?
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Next Trinseo earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
Trinseo, a materials solutions provider, manufactures and sells plastics and latex binders in the United States, Europe, the Asia-Pacific, and internationally. These products are used in the construction of latex foam products; leather, rubber and plastic coatings; automotive seating and trim; adhesives; footwear soles; tire cords and belts; building materials; medical devices; electronics applications; and more.
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