Ashland sees Q1 adjusted EPS 97c, consensus $1.1

Sees Q1 revenue $525M, consensus $547.81M. Ashland provided an update for preliminary Q1 financial 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. During December, the winter storm that impacted much of the U.S. also caused an extended, unplanned shutdown at the company’s facility in Calvert City, Kentucky, along with lesser impacts at several other facilities. Although the extended shutdown did not meaningfully impact sales or margins during the Q1, it will result in incremental repair, maintenance and other manufacturing costs. Ashland expects to realize approximately $15M of these incremental costs related to the event during the company’s Q2. The company plans to offset a meaningful portion of these incremental costs during the Q3 and Q4 quarters as it reassesses the need for other scheduled maintenance shutdowns.