HOUSTON (ICIS)--US-based styrenics producer Trinseo posted on Wednesday a Q4 net loss of $900,000 from a net income of $117.6m in the same quarter of the previous year as sales fell and costs rose.
|Quarterly performance ($m)||Q4 2018||Q4 2017||% Change|
|Cost of sales||1,005.7||935.5||7.5|
|Other expenses (income)||0.7||-21.5|
|Net income (loss)||-0.9||117.6|
For the year, 2018 net income fell as costs rose faster than sales.
|Full-year performance||2018||2017||% Change|
|Cost of sales||4,094.0||3,807.8||7.5|
|Net income (loss)||292.5||328.3||-10.9|
- Q4 net sales fell on lower volumes in Feedstocks, Performance Plastics and Synthetic Rubber segments, as well as currency.
- Q4 2017 pre-tax gain related to pension plan changes and business service transition from Dow Chemical. Q4 2018 loss related to labour reduction in Synthetic Rubber.
- Other headwinds included customer destocking and delayed orders on China dynamics and falling prices, weakness in auto and tyre markets, and impacts from unplanned Terneuzen styrene outage in The Netherlands.
|Net sales by segment ($m)||Q4 2018||Q4 2017||% Change|
- Late 2018 market conditions impacting Q1 business but showing signs of improvement in many products.
- Raising full-year 2019 guidance.
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