ASHLAND (ASH) Company Report

Analyst Earnings Quarterly Reports

Earnings summaries and quarterly performance for ASHLAND.

Analyst Coverage

Research analysts who have asked questions during ASHLAND earnings calls.

John Ezekiel Roberts

Mizuho Securities

6 questions for ASH

Also covers: ALB, APD, AXTA +21 more

David Begleiter

Deutsche Bank

5 questions for ASH

Also covers: ALB, APD, AVNT +24 more

Michael Sison

Wells Fargo

5 questions for ASH

Also covers: ALB, APD, AVNT +15 more

Bhavesh Lodaya

BMO Capital Markets

3 questions for ASH

Also covers: DD, DOW, ENTG +3 more

Josh Spector

UBS Group

3 questions for ASH

Also covers: ALB, AMBP, APD +27 more

Michael Harrison

Seaport Research Partners

3 questions for ASH

Also covers: APD, AVNT, AXTA +17 more

Chris Parkinson

Wolfe Research, LLC

2 questions for ASH

Also covers: AXTA, CCK, CTVA +7 more

Christopher Parkinson

Wolfe Research

2 questions for ASH

Also covers: ALB, APD, AXTA +17 more

Daniel Rizzo

Jefferies

2 questions for ASH

Also covers: APD, ATR, AZZ +16 more

Eric Boyce

Evercore

2 questions for ASH

Jeffrey Zekauskas

JPMorgan Chase & Co.

2 questions for ASH

Also covers: ALB, AMCR, APD +31 more

John McNulty

BMO Capital Markets

2 questions for ASH

Also covers: APD, AVY, AXTA +14 more

Joshua Spector

UBS

2 questions for ASH

Also covers: ALB, AMBP, APD +37 more

Mike Harrison

Seaport Research Partners

2 questions for ASH

Also covers: AVD, AVNT, AXTA +14 more

Steven Haynes

Morgan Stanley

2 questions for ASH

Also covers: ADM, APD, AVNT +3 more

John Spector

UBS

1 question for ASH

Kevin Estok

Jefferies

1 question for ASH

Also covers: AVNT, CBT, ECVT +7 more

Laurence Alexander

Jefferies

1 question for ASH

Also covers: AIQUY, ALB, APD +27 more

Latest news

Recent press releases and 8-K filings for ASH.

Ashland Announces Q1 FY26 Financial Results

ASH

Earnings

Guidance Update

Demand Weakening

Ashland reported Q1 FY26 adjusted sales of $386 million, a 5% decrease year-over-year, with adjusted EBITDA also down 5% to $58 million and adjusted EPS at $0.26, a 7% decline compared to the prior-year quarter.
Segment performance was mixed, with Life Sciences sales growing 4% year-over-year, while Personal Care sales decreased 8% (or 1% organically excluding the Avoca divestiture), Specialty Additives sales fell 11%, and Intermediates sales were down 6%.
The company generated $26 million in ongoing Free Cash Flow in Q1 FY26, a significant improvement from a negative $26 million in Q1 FY25.
Ashland reaffirmed its FY26 outlook, projecting sales between $1,835 million and $1,905 million and adjusted EBITDA between $400 million and $420 million, with double-digit-plus adjusted EPS growth.

1 day ago

Presentation

Ashland Reports Q1 2026 Financial Results and Updates Fiscal 2026 Outlook

ASH

Earnings

Guidance Update

Demand Weakening

Ashland reported Q1 2026 sales of $386 million, a 5% decrease year-over-year, and adjusted EBITDA of $58 million, also down 5% year-over-year, with adjusted EPS at $0.26. The quarter's adjusted EBITDA included a $10 million impact from the Calvert City outage, which led to over 250 basis points of margin compression.
The company narrowed its fiscal 2026 adjusted EBITDA guidance to $400 million-$420 million, reflecting an anticipated $11 million impact in Q2 from the extended Calvert City startup delay and recent weather-related disruptions.
While Life Sciences delivered healthy growth and Personal Care remained stable, Specialty Additives experienced muted demand in coatings and construction, particularly in China and export markets.
Ashland is on track with its cost savings target of $30 million for fiscal 2026 and expects to deliver $35 million in revenue from its Globalize and Innovate platforms, which are showing strong momentum.
The company identifies GLP-1 formulations and oral biologics as a significant opportunity for its VP&D portfolio and tablet coatings, with multiple active projects and new innovations like sodium caprate.

1 day ago

Transcript

Ashland Reports Q1 2026 Results, Narrows Fiscal 2026 Adjusted EBITDA Guidance

ASH

Earnings

Guidance Update

Demand Weakening

Ashland reported Q1 2026 sales of $386 million, a 5% decrease year-over-year (or 3% excluding the Avoca divestiture), and adjusted EBITDA of $58 million, also down 5% year-over-year (or 3% excluding the divestiture).
Adjusted EPS, excluding intangible amortization, was $0.26, a 7% decrease from the prior year.
The company generated $125 million of cash from operating activities and $26 million of ongoing free cash flow in Q1 2026.
Operational challenges, including the Calvert City outage and recent weather-related disruptions, are expected to result in approximately $11 million of temporary impacts in Q2 2026, extending the impact from Q1.
Ashland is on track to deliver its fiscal 2026 targets for $35 million in revenue from Globalize and Innovate platforms and $30 million in total cost savings, and has narrowed its fiscal 2026 adjusted EBITDA guidance range to $400 million-$420 million.

1 day ago

Transcript

Ashland Inc. Reports Q1 2026 Results and Updates Fiscal 2026 Outlook

ASH

Earnings

Guidance Update

Demand Weakening

Ashland Inc. reported Q1 2026 sales of $386 million, a 5% decrease year-over-year, and adjusted EBITDA of $58 million, also down 5%.
The company narrowed its fiscal 2026 adjusted EBITDA outlook to $400 million-$420 million, while other guidance elements remain unchanged.
Operational challenges, including a $10 million adjusted EBITDA impact from the Calvert City outage in Q1, are now expected to extend into Q2 2026.
Life Sciences sales increased 4% to $139 million, with adjusted EBITDA growing 11% to $31 million, driven by strong pharma demand and innovation.
Ashland is on track to achieve its fiscal 2026 $35 million revenue commitment from Globalize and Innovate initiatives, having generated $3 million and $6 million in incremental sales respectively in Q1 2026.

1 day ago

Transcript

Ashland Inc. Reports Q1 Fiscal 2026 Results and Narrows Full-Year Outlook

ASH

Earnings

Guidance Update

Ashland Inc. reported Q1 fiscal 2026 sales of $386 million, a five percent decrease from the prior-year quarter, and a net loss of $12 million, or $(0.26) per diluted share.
Adjusted EBITDA for Q1 fiscal 2026 was $58 million, representing a 15 percent margin, which is down five percent from the prior-year quarter.
The company narrowed its full-year fiscal 2026 Adjusted EBITDA guidance to a range of $400 million to $420 million from its prior guidance of $400 million to $430 million. This adjustment reflects approximately $11 million of temporary impacts from the Calvert City startup delay and recent weather-related disruptions, isolated to the second quarter.
All other elements of the full-year guidance remain unchanged, including sales guidance of $1,835 million to $1,905 million.

2 days ago

8-K

Ashland Reports Q1 FY2026 Results and Narrows Full-Year Outlook

ASH

Earnings

Guidance Update

Demand Weakening

For the first quarter of fiscal year 2026, which ended December 31, 2025, Ashland reported sales of $386 million, a five percent decrease from the prior-year quarter.
The company recorded a net loss of $12 million, or $(0.26) per diluted share, and Adjusted EBITDA of $58 million for the quarter.
Ashland narrowed its full-year fiscal 2026 Adjusted EBITDA guidance to $400–$420 million, reflecting approximately $11 million of temporary impacts from the Calvert City startup delay and recent weather-related disruptions isolated to the second quarter.
Cash flows provided by operating activities were $125 million, and Ongoing Free Cash Flow totaled $26 million for the quarter.

2 days ago

Press Release

Ashland Reports Q4 2025 Results and Provides Fiscal 2026 Guidance

ASH

Earnings

Guidance Update

Demand Weakening

Ashland reported Q4 2025 sales of $478 million, an 8% year-over-year decrease primarily due to portfolio optimization, and adjusted EBITDA of $119 million, down 4% year-over-year. On a comparable basis (excluding portfolio actions), sales declined 1% and adjusted EBITDA increased 5%, with margins expanding to 24.9%.
Life Sciences and Personal Care segments demonstrated resilience, while Specialty Additives and Intermediates faced continued pressure from market conditions and competitive intensity.
The company completed its $30 million restructuring program, realizing $20 million in savings in fiscal 2025, and expects an additional $12 million in fiscal 2026. The manufacturing optimization initiative is also progressing, with $5 million in savings in fiscal 2025 and $18 million projected for fiscal 2026.
For fiscal 2026, Ashland projects full-year sales between $1,835 million and $1,905 million (1%-5% organic growth) and adjusted EBITDA between $400 million and $430 million. Adjusted EPS is expected to grow double digits plus, and free cash flow conversion is targeted at 50%.

Nov 5, 2025, 3:00 PM

Transcript

Ashland Reports Q4 2025 Financial Results and Provides FY26 Outlook

ASH

Earnings

Guidance Update

Demand Weakening

For Q4 FY25, Ashland reported sales of $478 million, an 8% decrease from Q4 FY24, and Adjusted EBITDA of $119 million, a 4% decrease.
The company achieved an Adjusted EBITDA margin of 24.9% in Q4 FY25, an increase of 110 basis points compared to the prior-year quarter, driven by cost savings and mix.
Adjusted EPS for Q4 FY25 was $1.08, down 14% from Q4 FY24, and ongoing Free Cash Flow was $52 million, a 41% decrease.
For fiscal year 2026, Ashland anticipates sales between $1,835 million and $1,905 million and Adjusted EBITDA between $400 million and $430 million.
The company expects double-digit-plus Adjusted EPS growth and approximately 50% ongoing Free Cash Flow conversion of Adjusted EBITDA in FY26.

Nov 5, 2025, 3:00 PM

Presentation

Ashland Inc. Reports Q4 2025 Results and Issues FY 2026 Outlook

ASH

Earnings

Guidance Update

Demand Weakening

Ashland Inc. reported fourth-quarter fiscal year 2025 sales of $478 million, an eight percent decrease from the prior-year quarter, and net income of $32 million, or $0.71 per diluted share.
Adjusted EBITDA for Q4 2025 was $119 million, down four percent from the prior-year quarter, with cash flows provided by operating activities at $40 million and Ongoing Free Cash Flow of $52 million.
For the full fiscal year 2025, sales were $1.824 billion, a 14 percent decrease year-over-year, resulting in a net loss of $845 million, or ($18.23) per diluted share, and Adjusted EBITDA of $401 million.
Ashland issued full-year fiscal 2026 guidance, projecting sales between $1,835 million and $1,905 million, and Adjusted EBITDA between $400 million and $430 million.

Nov 4, 2025, 10:07 PM

8-K

Ashland Reports Q4 FY2025 Results and Issues FY2026 Outlook

ASH

Earnings

Guidance Update

Demand Weakening

Ashland reported fourth-quarter fiscal year 2025 sales of $478 million, an eight percent decrease from the prior year, and Adjusted EBITDA of $119 million, down four percent. Net income for the quarter was $32 million, or $0.71 per diluted share.
For the full fiscal year 2025, sales were $1.824 billion, down 14 percent, and the company reported a net loss of $845 million, primarily due to non-cash impairments. Adjusted EBITDA for FY2025 was $401 million.
The company issued guidance for fiscal year 2026, projecting sales between $1,835 million and $1,905 million and Adjusted EBITDA between $400 million and $430 million.
Ashland anticipates double-digit-plus growth in Adjusted Diluted Earnings Per Share Excluding Intangibles Amortization Expense for fiscal year 2026, despite continued challenging market conditions in some segments.