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Sep 30, 2023
Ashland Q4 2023 Earnings Report
Ashland's financial performance was impacted by customer destocking and inventory-control actions.
Key Takeaways
Ashland Inc. reported Q4 fiscal year 2023 results with sales of $518 million, down 18% year-over-year. The company experienced a net loss of $4 million, or $0.07 per diluted share. Adjusted income from continuing operations excluding intangibles amortization expense was $21 million, or $0.41 per diluted share. Adjusted EBITDA was $74 million, down 50% year-over-year.
Sales decreased to $518 million, an 18% drop compared to the prior-year quarter.
Net loss was $4 million, a decrease from the $57 million income in the prior-year quarter.
Adjusted income from continuing operations excluding intangibles amortization expense was $21 million, down from $80 million in the prior-year quarter.
Adjusted EBITDA decreased by 50% to $74 million from $147 million in the prior-year quarter.
Revenue by Segment
Forward Guidance
For the fiscal-first quarter, the company expects sales in the range of $470 million to $490 million and adjusted EBITDA in the range of $55 million to $65 million
Positive Outlook
- Demand in October has demonstrated some sequential improvement
- Customer order lead times have returned to more normalized levels.
- November orders are consistent with expectations.
Challenges Ahead
- Customer destocking continues across many end markets.
- First-quarter financial results will include carryover impacts from internal inventory-control actions that will negatively impact results compared to prior year.
- Visibility into December demand is limited.
- Uncertainty remains as to whether some customers decide to take year-end inventory control actions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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