1 August 2016
DETAILS
Second Quarter 2016 Summary
- Record Net Income of $96 million
and diluted EPS of $2.00 - Adjusted EPS of $2.30, inclusive of a $0.22
favorable impact from inventory revaluation - Record Adjusted EBITDA
of $182 million
($169 million excluding inventory revaluation) - Cash provided by operating activities of $95 million;
cash used in investing activities of $27 million - Free Cash Flow of $68 million
Trinseo President and Chief Executive Officer
“I am very pleased with our performance
in the second quarter, as we exceeded
our Adjusted EBITDA and Adjusted EPS guidance.
We continue to see a higher level of profitability
driven by good results in the Performance Materials division
as well as sustainable, structural improvements
in the Basic Plastics & Feedstocks division.
We repurchased an additional 800,000 shares
during the quarter, bringing our year-to-date
purchases to almost 2.4 million,
or about 5% of shares outstanding.
In addition, we received Board approval
for an annual cash distribution of $1.20 per share,
and the first quarterly distribution
was paid on July 20.”
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