Ashland reports Q1 adjusted EPS 45c, consensus 19c

Reports Q1 revenue $473M, consensus $477.78M. “Financial results in the December quarter yielded adjusted EBITDA above the outlook range we issued on November 8, 2023,” said Guillermo Novo, chair and chief executive officer, Ashland. “Customer demand was generally consistent with our expectations in the first quarter. While we are cautiously optimistic about the improving demand trends we experienced in January with follow-through order build into February, we continue to prudently manage inventory levels and drive cash generation. With generally reduced stress on supply chains, customer ordering lead time has normalized to pre-COVID levels. Ashland will remain disciplined in its production levels, targeting to produce to near-term demand.”