- Q4 cash flow was $7M with $23M from operations and $16M in capital expenditures.
- Net loss for Q4 was $251M, including $127M in restructuring charges.
- Full-year net loss was $546M, with $140M in restructuring charges and $26M in debt refinancing costs.
- Adjusted EBITDA for the year was $163M, $41M below the previous year.
Q4 Financial Performance
Trinseo reported a net loss of $251 million for the fourth quarter of 2025, which was $133 million weaker than the previous year. The quarter included $127 million in pre-tax restructuring and other charges. Adjusted EBITDA was $26 million, consistent with the prior year, despite lower volumes and margins, offset by restructuring savings.
Full-Year Financial Overview
For the full year, Trinseo experienced a net loss of $546 million, $197 million worse than the previous year. This included $140 million in restructuring charges and $26 million in debt refinancing costs. Adjusted EBITDA was $163 million, down $41 million from the previous year, due to lower sales volumes and margins, despite restructuring benefits and $27 million from polycarbonate technology licensing.
Cash Flow and Investments
In Q4, cash provided by operations was $23 million, with capital expenditures of $16 million, resulting in a free cash flow of $7 million. The full year saw cash used in operations of $102 million and capital expenditures of $51 million, leading to a negative free cash flow of $153 million.
Sales and Market Conditions
Net sales for Q4 were $663 million, a 19% decrease from the previous year, driven by lower sales volumes and competitive pricing pressures, particularly in Polymer Solutions and Latex Binders in Europe and Asia. For the full year, net sales decreased by 15%, with a 10% drop due to lower volumes and a 6% decrease from lower prices, partially offset by a 1% favorable foreign currency impact.
