While Ashland (ASH) gains on disciplined pricing actions, weaker demand in China and significant inventory destocking weigh on its Q1 performance.
Sales of $525 million, up three percent from the prior-year quarterNet income (including discontinued operations) of $40 million, or $0.73 per diluted shareIncome from continuing operations of $42 million, or $0.76 per diluted shareAdjusted income from continuing operations excluding intangibles amortization expense of $54 million, or $0.97 per diluted shareAdjusted EBITDA of $108 millionCash flows used by operating activities of $29 million; ongoing free cash flow2 of negative $21 million WILMI
WILMINGTON, Del., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today provided an update for preliminary fiscal 2023 first-quarter financial results1 and maintained its outlook for fiscal year 2023 results. Additional information regarding first-quarter fiscal 2023 earnings and full-year outlook will be shared during a conference call webcast with securities analysts on Wednesday, February 1, 2023. Preliminary fiscal 2023 first-quarter financial resultsAshland’s financial results du