GlobeNewswire·Jul 28, 2026, 5:01 PM ET

Ashland reports third quarter 2026 results and reaffirms full-year sales & Adjusted EBITDA outlook

ASH

Ashland reported third-quarter fiscal 2026 sales of $497 million, a seven percent increase from the prior-year quarter.
Income from continuing operations was $41 million, or $0.89 per diluted share.
Net income totaled $16 million, or $0.35 per diluted share, compared to a loss of $742 million in the prior year.
Adjusted Income from Continuing Operations Excluding Intangibles Amortization Expense was $47 million, or $1.02 per diluted share.
Adjusted EBITDA was $109 million, down four percent from the prior-year quarter, primarily due to lower earnings in Specialty Additives & Intermediates offsetting growth in Life Sciences & Personal Care.
Sales volumes rose six percent with gains achieved across all business units.
Life Sciences segment sales increased 11 percent to $180 million, driven by double-digit pharma demand.
Personal Care sales grew five percent to $155 million, led by high-single-digit growth in skin care & double-digit growth in biofunctional actives.
Specialty Additives sales rose four percent to $136 million, supported by growth in coatings & performance specialties.
Intermediates sales increased 12 percent to $37 million, driven by higher merchant sales of NMP for battery applications.
Operating cash flow was $121 million, with Ongoing Free Cash Flow of $103 million.
The company reaffirmed full-year fiscal 2026 sales guidance of $1,835 to $1,870 million & Adjusted EBITDA guidance of $385 to $400 million.
Adjusted Diluted Earnings Per Share Excluding Intangibles Amortization guidance was revised to low-to-mid single-digit growth.
Net leverage ended the quarter at 2.4x, returning to the company's long-term target range.
CEO Guillermo Novo noted strong commercial execution & progress on globalize & innovate strategies across the portfolio.