Abstract: The present invention provides a thermoplastic composition prepared by providing a mixture of ethylenically unsaturated monomers containing one or more styrenic monomers, one or more waxes, one or more white oils, and a particulate solid; polymerizing the monomers in the mixture in the presence of one or more free radical catalysts to form expandable particles; incorporating a blowing agent into the expandable particles; and at least partially expanding the expandable particles to provide expanded particles. Foamed articles can be prepared by feeding pre-expanded particles of the thermoplastic composition to a mold, heating the mold and expanded particles to a temperature sufficient to further expand the particles and cause the pre-expanded particles to soften and stick together, and cooling the mold to provide a foamed article.