22 February 2017
DETAILS
Year Ended 2016 Summary
- Net Income of $318 million
and diluted EPS of $6.70 - Adjusted EPS of $7.28
- Adjusted EBITDA of $611 million
- Cash provided by operating activities of $404 million;
free cash flow of $280 million
Fourth Quarter 2016 Summary
- Net Income of $79 million and diluted EPS of $1.72
- Adjusted EPS of $1.68
- Adjusted EBITDA of $142 million
- Cash provided by operating activities of $79 million;
free cash flow of $38 million
Trinseo (NYSE: TSE) today reported
its fourth quarter and full year 2016 financial results with
net sales of $917 million and $3,717 million, respectively;
net income of $79 million and $318 million, respectively; and
earnings per diluted share of $1.72 and $6.70, respectively.
Additionally, results for the fourth quarter and full year
included Adjusted EPS of $1.68 and $7.28, respectively,
and Adjusted EBITDA of $142 million and $611 million,
respectively.
Chris Pappas,
Trinseo President and Chief Executive Officer
“We continue to see strong fundamental performance
across the company.
Our full year Net Income and Adjusted EBITDA
were better than our previous guidance
due to higher than expected styrene margins
and favorable raw material timing,
net of some unfavorable price lag impacts.
Overall for the year, we had record Net Income
and Adjusted EBITDA results, including
record performance in both
our Performance Materials and
Basic Plastics & Feedstocks divisions.”
“We also had record cash generation for the year,
and we continue to return capital to shareholders.
Over the year we repurchased
approximately 4.5 million shares,
representing about 9% of our outstanding shares,
and we initiated a quarterly dividend
which we started paying in July.
In total, we returned approximately $242 million
to shareholders via these mechanisms.
In addition, we announced
several important growth initiatives during the year,
including
* an SSBR expansion and pilot plant as well as
* our first ABS production site in Asia.”
WWW.CHEMWINFO.COM BY KHUN PHICHAI
