Trinseo PLC (NYSE:TSE) Q2 2024 Earnings Conference Call August 7, 2024 10:00 AM ET

Company Participants

Andy Myers - Director, IR
Frank Bozich - President and CEO
David Stasse - EVP and CFO

Conference Call Participants

Frank Mitsch - Fermium Research, LLC
Matthew Blair - TPH
Hassan Ahmed - Alembic Global Advisors
Michael Leithead - Barclays

Operator

Good morning ladies and gentlemen, and welcome to the Trinseo Second Quarter 2024 Financial Results Conference Call. We welcome the Trinseo management team, Frank Bozich, President and CEO; David Stasse, Executive Vice President and CFO; and Andy Myers, Vice President of Investor Relations.

Today's conference call will include brief remarks by the management team followed by a question-and-answer session. The company distributed its press release along with its presentation slides at close of market Tuesday, August 6th. These documents are posted on the company's Investor Relations website and furnished on a Form 8-K filed with the Securities and Exchange Commission. [Operator Instructions]

And I will now hand the call over to Andy Myers.

Andy Myers

Thank you, Abbie and good morning everyone. At this time, all participants are in a listen-only mode. After our brief remarks, instructions will follow to participate in the question-and-answer session.

Our disclosure rules and cautionary note on forward-looking statements are noted on Slide 2. During this presentation, we may make certain forward-looking statements, including issuing guidance and describing our future expectations.

We must caution you that actual results could differ materially from what is discussed, described, or implied in these statements. Factors that could cause actual results to differ include, but are not limited to, risk factors set forth in Item 1A of our annual report on Form 10-K or in our other filings made with the Securities and Exchange Commission. The company undertakes no obligation to update or revise such forward-looking statements.

Today's presentation includes certain non-GAAP financial measurements. A reconciliation of these measurements to corresponding GAAP measures is provided in our earnings release and in the appendix of our investor presentation.

A replay of the conference call and transcript will be archived on the company's Investor Relations' website shortly following the call. The replay will be available until August 7th, 2025.

Now, I'd like to turn the call over to Frank Bozich.

Frank Bozich

Thanks Andy and welcome to our second quarter 2024 earnings call. I'd like to start by discussing our Q2 results, which were in line with our expectations. The market conditions that we saw at the end of the first quarter continued through the second quarter, which resulted in our highest adjusted EBITDA since the second quarter of 2022, despite $10 million of unfavorable net timing. This was the second straight quarter of sequentially higher profitability.