ASH · Ashland Inc.

Ashland Inc. announced preliminary second quarter fiscal 2026 results on April 28, 2026, reflecting modest sales growth to $482 million, up 1% from $479 million in the prior-year quarter, driven by strength in Personal Care and resilient Life Sciences performance, offset by softer Intermediates and pricing declines across segments. Favorable foreign currency added 3% to sales. Adjusted EBITDA declined 9% to $98 million from $108 million, pressured by temporary operational headwinds including Calvert City startup delay, Hopewell productivity challenges, weather disruptions, and Middle East energy market softness, partially mitigated by FX gains and lower SARD expenses. Segment highlights include Life Sciences sales flat at $172 million with steady pharma volumes but $5 million EBITDA hit from disruptions; Personal Care up 3% to $150 million with broad growth in biofunctionals and care ingredients; Specialty Additives flat at $134 million amid coatings gains but construction and energy weakness, with Hopewell issues contributing to EBITDA drop to $16 million; Intermediates down 5% to $35 million but improved profitability. CEO Guillermo Novo emphasized resilient demand, strong cash generation from working capital discipline yielding $50 million operating cash flow and $29 million ongoing free cash flow, and progress on globalize/innovate platforms despite challenges. Full-year outlook updated lower to sales $1,835-$1,870 million and Adjusted EBITDA $385-$400 million, reflecting slower Hopewell ramp and variable demand, with focus on pricing actions, supply chain resilience, and operational stabilization to drive future performance.