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Trinseo (TSE) Wraps Up Netherlands-Based Heathland Buyout
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Trinseo PLC (TSE - Free Report) completed the acquisition of Heathland B.V., a leading collector and recycler of post-consumer (“PCR”) and post-industrial (“PIR”) plastic wastes in Europe.
Heathland, based in Utrecht, the Netherlands, is focused on converting PCR and PIR polymethyl methacrylate, polycarbonate, acrylonitrile butadiene styrene, polystyrene and other thermoplastic waste. It collects, pre-treats and processes plastic waste materials using mechanical and chemical recycling processes. It also captures the materials’ maximum value by transforming them into high-quality recycled raw materials for a wide range of high-end applications.
Heathland is an established player in Europe with several key projects, including MMATwo and Revolution, funded by the Horizon 2020 program of the European Commission.
The acquisition is an important milestone in Trinseo’s transition to a specialty materials and sustainable solutions provider. The addition of Heathland would provide it access to comprehensive recycling technologies and plastic wastes as feedstock. The shared sustainability vision of both companies has now become one. The company noted that It will continue to invest in the movement toward a circular economy.
Shares of Trinseo have inched up 1.6% in the past year against a 40.3% fall of the industry.
Image Source: Zacks Investment Research
In its third-quarter call, Trinseo stated that it sees net income from continuing operations in the range of $336-$376 million for 2021. Adjusted EBITDA is forecast in the band of $750-$800 million.
The company expects cash from operations of $420-$445 million and a free cash flow of $300-$325 million for 2021.
Trinseo also announced the planned divestiture of thestyrenics businesses. It intends to launch a formal sales process in first-quarter 2022.
Zacks Rank & Key Picks
Trinseo currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks worth considering in the basic materials space include The Chemours Company (CC - Free Report) , Commercial Metals Company (CMC - Free Report) and United States Steel Corporation (X - Free Report) .
Chemours currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for CC's current-year earnings has been revised 9.2% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 34.2%. CC has gained around 29% in a year.
Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 10.5% for the current fiscal year. CMC's consensus estimate for the current fiscal year has been revised 6.6% upward in the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 72% in a year.
United States Steel currently carries a Zacks Rank #2. The Zacks Consensus Estimate for X's current-year earnings has been revised 5.9% upward in the past 60 days.
United States Steel beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 24.5%. X shares have rallied around 32% in a year.
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Trinseo (TSE) Wraps Up Netherlands-Based Heathland Buyout
Trinseo PLC (TSE - Free Report) completed the acquisition of Heathland B.V., a leading collector and recycler of post-consumer (“PCR”) and post-industrial (“PIR”) plastic wastes in Europe.
Heathland, based in Utrecht, the Netherlands, is focused on converting PCR and PIR polymethyl methacrylate, polycarbonate, acrylonitrile butadiene styrene, polystyrene and other thermoplastic waste. It collects, pre-treats and processes plastic waste materials using mechanical and chemical recycling processes. It also captures the materials’ maximum value by transforming them into high-quality recycled raw materials for a wide range of high-end applications.
Heathland is an established player in Europe with several key projects, including MMATwo and Revolution, funded by the Horizon 2020 program of the European Commission.
The acquisition is an important milestone in Trinseo’s transition to a specialty materials and sustainable solutions provider. The addition of Heathland would provide it access to comprehensive recycling technologies and plastic wastes as feedstock. The shared sustainability vision of both companies has now become one. The company noted that It will continue to invest in the movement toward a circular economy.
Shares of Trinseo have inched up 1.6% in the past year against a 40.3% fall of the industry.
In its third-quarter call, Trinseo stated that it sees net income from continuing operations in the range of $336-$376 million for 2021. Adjusted EBITDA is forecast in the band of $750-$800 million.
The company expects cash from operations of $420-$445 million and a free cash flow of $300-$325 million for 2021.
Trinseo also announced the planned divestiture of thestyrenics businesses. It intends to launch a formal sales process in first-quarter 2022.
Zacks Rank & Key Picks
Trinseo currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks worth considering in the basic materials space include The Chemours Company (CC - Free Report) , Commercial Metals Company (CMC - Free Report) and United States Steel Corporation (X - Free Report) .
Chemours currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for CC's current-year earnings has been revised 9.2% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 34.2%. CC has gained around 29% in a year.
Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 10.5% for the current fiscal year. CMC's consensus estimate for the current fiscal year has been revised 6.6% upward in the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 72% in a year.
United States Steel currently carries a Zacks Rank #2. The Zacks Consensus Estimate for X's current-year earnings has been revised 5.9% upward in the past 60 days.
United States Steel beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 24.5%. X shares have rallied around 32% in a year.