Ashland Q1 sales $525M (+3% YoY), adj. EPS $0.97, EBITDA $108M, reaffirms FY guidance

ASHLAND INC.

2023-Q1 EPS reported $0.73 revenue$525,000,000

Net income $40M ($0.73 diluted), income from continuing ops $42M ($0.76 diluted).
Adjusted income excl. intangibles amortization $54M ($0.97 diluted), up from $0.88 prior year.
Adjusted EBITDA $108M, up 2% YoY; negative impact of $14M from FX and $12M from maintenance turnarounds.
Cash flows used by operating activities -$29M; ongoing free cash flow -$21M, driven by higher working capital.
Results consistent with Jan 25 update; FY 2023 guidance remains within original ranges despite China/Europe headwinds.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ASHLAND INC. reported the first quarter of fiscal year 2023, which ended December 31, 2022 results: revenue $525 million, net income $40 million, EPS $0.73 per diluted share. Guidance reaffirmed.

Period: the first quarter of fiscal year 2023, which ended December 31, 2022
Revenue: $525 million
Net income: $40 million
EPS: $0.73 per diluted share
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

Ashland reports financial results 1 for first quarter of fiscal year 2023 consistent with previous update • Sales of $525 million, up three percent from the prior-year quarter • Net income (including discontinued operations) of $40 million, or $0.73 per diluted share

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Source: SEC EDGAR

accession 0000950170-23-001503

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