Key Points Q3’24 EBITDA and EPS miss; higher EBITDA margins logged in every segment y-o-y Q4’24 guidance range below consensus levels. Q4’24 free cash flow guidance positive We rate Trinseo shares Overweight; our...
Key Points Consensus 2024 estimates undemanding and normal earnings power not fully appreciated, in our view Near-term debt maturity fears overblown; Americas Styrenics JV sale could be a major share price upside...
Key Points Q2’24 EBITDA beat but EPS miss; higher EBITDA margins logged in every segment except Plastic Solutions y-o-y Q3’24 guidance range midpoint in line with consensus levels. H2’24 free cash flow...
Key Points Consensus 2024 estimates undemanding, in our view, recent sell-off seems overdone Near-term debt maturity overhang lifted; Styrenics business sale (while not our base case) could be a major share price...