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Dec 31, 2022
Ashland Q1 2023 Earnings Report
Ashland's first quarter of fiscal year 2023 financial results were reported.
Key Takeaways
Ashland reported sales of $525 million, a 3% increase year-over-year. Net income was $40 million, and income from continuing operations was $42 million, or $0.76 per diluted share. Adjusted EBITDA was $108 million, up 2% from the prior year.
Sales increased by 3% to $525 million compared to the prior-year quarter.
Net income was $40 million, while income from continuing operations reached $42 million, or $0.76 per diluted share.
Adjusted income from continuing operations, excluding intangibles amortization expense, was $54 million, or $0.97 per diluted share.
Adjusted EBITDA increased by 2% to $108 million from $106 million in the prior-year quarter.
Revenue by Segment
Forward Guidance
Ashland continues to expect sales in the range of $2.5 billion to $2.7 billion for fiscal year 2023. In addition, the company continues to expect Adjusted EBITDA to be within the prior outlook range of $600 million to $650 million, with the current forecast models indicating earnings below the mid-point of that range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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