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WILMINGTON, Del., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today provided an update for preliminary fiscal 2023 fourth-quarter results, full-year sales and Adjusted EBITDA.1 Ashland's financial results during the quarter reflect market-demand dynamics and underlying business performance that were generally consistent with previously communicated expectations. Earnings for the quarter were most directly impacted by additional inventory-reduction actions taken to better position the company for more conservative demand scenarios.
While softer demand in certain end markets is likely to be a drag, LyondellBasell (LYB), Chemours (CC), Axalta Coating Systems (AXTA) and Ashland (ASH) are likely to have benefited from cost and pricing actions.
ALPMY, ASH and DHC have been added to the Zacks Rank #5 (Strong Sell) List on September 26, 2023.
AFCG, ASH and BHLB have been added to the Zacks Rank #5 (Strong Sell) List on August 24, 2023.
ASH, CBRE and CMTG have been added to the Zacks Rank #5 (Strong Sell) List on August 16, 2023.
ASH, BASFY and ASB have been added to the Zacks Rank #5 (Strong Sell) List on August 8, 2023.
Although the revenue and EPS for Ashland (ASH) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Ashland (ASH) came out with quarterly earnings of $1.23 per share, missing the Zacks Consensus Estimate of $1.40 per share. This compares to earnings of $1.89 per share a year ago.
ASH, CTS and CP have been added to the Zacks Rank #5 (Strong Sell) List on July 25, 2023.
ASH, BASFY and BGC have been added to the Zacks Rank #5 (Strong Sell) List on July 19, 2023.