— By Heather Arnest Liesch & Plasteurope.com staff — 

US plastics group Trinseo (Wayne, Pennsylvania; www.trinseo.com) reported a deeper net loss in the first quarter, posting a deficit of USD 116 mn (EUR 99 mn) compared with a loss of USD 79 mn in the same period last year. CEO Frank Bozich cited “dynamic market and macroeconomic conditions” during the first three months of 2026.

The latest figures include negative one-off effects of USD 31 mn, primarily related to costs for ongoing credit negotiations and restructuring measures. However, operating performance also deteriorated: adjusted EBITDA dropped 18% to USD 53 mn, while revenue fell 7.6% to USD 725 mn.

The decline in turnover was driven by a 9% drop in prices across the business “due to competitive pressure and lower raw material costs”, alongside a 4% fall in sales volumes. Positive currency effects could only partially offset weaker sales.

Among the plastics-related business units, Polymer Solutions was particularly hard hit. Revenue in the division slipped 11% to USD 265 mn, while adjusted EBITDA plummeted 47% to USD 23.7 mn.

Higher ABS sales in North America were unable to compensate for losses in its European polystyrene business, which streamlined its customer base amid falling sales prices and consequently sold lower volumes.

Related: Trinseo takes final decision to shutter PS production at Schkopau, Germany

The Engineered Materials segment, which includes compounds, blends, and thermoplastic elastomers, performed significantly better. Although revenue declined 5.2% to USD 263 mn following the closure of MMA production in Italy, adjusted EBITDA rose by 31% to USD 33.7 mn due to restructuring measures and market share gains in PMMA sheets.

The remaining USD 197 mn revenue came from the company’s Latex Binders business unit. Turnover here declined 6% year-on-year, with adjusted EBITDA down 33% to USD 16 mn.

The first-quarter results are adding to Trinseo’s liquidity crisis as the company faces high debt levels and rising financing costs. It has twice technically missed interest payment deadlines, although lenders have granted temporary waivers. The group said it secured near-term liquidity through an additional USD 50 mn credit line.

Amid rising feedstock and financing costs, the company appears to be seeking to restore margins through higher prices for styrenics in Europe. Over March and April, Trinseo announced cumulative increases of EUR 1,020/t for polystyrene, EUR 910/t for ABS, and EUR 920/t for SAN.

European styrene contract prices have risen EUR 542/t over the two-month period, while butadiene increased EUR 445/t and ACN climbed EUR 587/t.

For PMMA, meanwhile, the group announced price hikes totalling EUR 620/t over March and April.