Why did TSE's Q3 earnings decline unexpectedly?

Trinseo PLC (TSE) experienced an unexpected decline in Q3 earnings, primarily due to a combination of factors: 1. **Volume Decrease**: There was an 8% year-over-year decrease in volumes, excluding polystyrene volumes which were flat. This reduction in volume, particularly in low-margin sectors, significantly impacted the company's earnings. 2. **Restructuring Charges**: Trinseo faced substantial restructuring charges, which adversely affected the company's net income. These charges were a result of the company's strategic initiatives to reorganize its operations and address financial obligations. 3. **Interest and Tax Expenses**: The company reported a significant increase in interest and tax expenses, which contributed to the net loss. This was partly due to the restructuring process, which involved refinancing debt and amending credit agreements. In summary, Trinseo's Q3 earnings decline was primarily due to a combination of volume decrease, restructuring charges, and increased interest and tax expenses. These factors, collectively, led to a challenging financial performance for the company during the quarter.