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Canada Pension Plan Investment Board purchased a new position in shares of Ashland Inc. (NYSE:ASH – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,700 shares of the basic materials company’s stock, valued at approximately $507,000.

A number of other hedge funds also recently made changes to their positions in ASH. Royal Bank of Canada grew its holdings in Ashland by 18.7% during the 1st quarter. Royal Bank of Canada now owns 46,306 shares of the basic materials company’s stock valued at $2,747,000 after purchasing an additional 7,309 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Ashland by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,815 shares of the basic materials company’s stock valued at $226,000 after purchasing an additional 225 shares in the last quarter. Millennium Management LLC increased its holdings in Ashland by 49.4% during the 1st quarter. Millennium Management LLC now owns 284,454 shares of the basic materials company’s stock worth $16,865,000 after purchasing an additional 94,067 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ashland by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 387,132 shares of the basic materials company’s stock valued at $22,953,000 after purchasing an additional 6,245 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Ashland by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 152,830 shares of the basic materials company’s stock worth $9,061,000 after buying an additional 13,989 shares in the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Analyst Upgrades and Downgrades A number of analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Ashland from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. UBS Group boosted their target price on Ashland from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wolfe Research restated an “outperform” rating on shares of Ashland in a research report on Monday, July 27th. Seaport Research Partners upgraded Ashland from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Ashland from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.90.

Read Our Latest Stock Report on Ashland Ashland Price Performance Shares of ASH stock opened at $74.19 on Thursday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 65.08, a P/E/G ratio of 2.27 and a beta of 0.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.05 and a quick ratio of 1.89. The stock’s fifty day simple moving average is $70.23 and its 200 day simple moving average is $61.94. Ashland Inc. has a one year low of $46.29 and a one year high of $78.25.

Ashland Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Ashland’s payout ratio is currently 147.37%.

About Ashland (Free Report)

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.

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Wilmington, Del., Aug. 31, 2026 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) will host a live Innovation Day webcast for analysts and investors from Wilmington, Delaware on September 17, 2026. The event will provide an updated view of Ashland’s Technology Platforms, including their commercial progress and scalability.  Registration is required and can be accessed from the following link: innovationday26.ashland.com

Participants will hear from Ashland executives and senior technology leaders as they provide an in-depth review of the latest innovations and expanding commercial opportunities. The presentations will detail how these advancements are poised to impact key markets and drive organic growth.

Following formal remarks, participants will have the opportunity to engage directly in a moderated question and answer (Q&A) session.

Ashland leaders presenting at the event include:

Guillermo Novo, chair, and chief executive officerOsama Musa, senior vice president and chief technology officerJim Minicucci, senior vice president and general manager, personal careAlessandra Faccin, senior vice president and general manager, life sciences and intermediatesDago Caceres, senior vice president and general manager, specialty additivesWilliam Whitaker, senior vice president and chief financial officerSandy Klugman, director, investor relations Presentations will begin promptly at 9:00 a.m. ET and conclude after the Q&A session at approximately 11:00 a.m. ET. Registration information and further event details can be found on Ashland’s investor website at http://investor.ashland.com

A webcast of the event will be available live and can be accessed, along with supporting materials, through the Ashland website. A replay will be available within 24 hours of the live event and will be archived, along with supporting materials, on the Ashland website for 12 months. Copies of the presentation may also be requested by sending an email to [email protected]

About Ashland 
Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 2,900 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more.  

™ Trademark, Ashland or its subsidiaries, registered in various countries.

FOR FURTHER INFORMATION:

Investor Relations:Media Relations:Sandy KlugmanCarolmarie C. Brown+1 (302) 594-7777+1 (302) [email protected]@ashland.com Press_Release_Hold_the_Date_ASH_Hosts_Innovation_Day_20260831 COR26-009 IR 7 platforms innovation display banner

Key Takeaways Ashland launches Permexa for oral peptide, biologic and low-permeability drug products.Permexa improves powder flow, compressibility and consistency while enhancing permeability.Ashland saw strong prelaunch interest from pharma, biotech and CDMO groups and positive feedback. Ashland Inc. (ASH - Free Report) has launched permexa sodium caprate, an intestinal permeation enhancer designed for the development and commercialization of oral peptide, biologic and low-permeability drug products. The launch is timed to grab the growing demand for oral alternatives to injectable therapies. The high-performance enhancer is particularly manufactured keeping in mind rapidly expanding GLP-1, diabetes, weight-loss and metabolic disease applications.

The oral biologics and development market is gaining momentum as pharmaceutical companies invest in developing therapies that can improve patient convenience and adherence. However, developers face challenges related to permeability, formulation consistency, process robustness and manufacturing scalability. Ashland’s new product is designed to address these challenges by combining sodium caprate’s properties with improved pharmaceutical processing performance.

Permexa features an IP-protected manufacturing process intended to improve powder flow, compressibility and formulation consistency, combined with the permeability enhancement characteristics. This could help pharmaceutical developers scale production more efficiently.

Ashland noted strong interest in the product ahead of its commercial launch, with pharmaceutical, biotechnology and CDMO organizations participating in sampling, technical evaluations, benchmarking and formulation development activities. Positive customer feedback on the product’s differentiated properties further supports its potential.

ASH’s shares have gained 31.4% over the past year against the industry’s 0.9% decline.

Image Source: Zacks Investment Research

ASH’s Zacks Rank & Key PicksASH currently carries a Zacks Rank #3 (Hold). 

Some better-ranked stocks in the Basic Materials space are Neo Performance Materials Inc. (NOPMF - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Avient Corporation (AVNT - Free Report) .

While NOPMF currently sports a Zacks Rank #1 (Strong Buy), CRS and AVNT carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for NOPMF’s 2026 earnings is pinned at $1.4 per share, indicating a 185.71% year-over-year increase. NOPMF’sshares have gained 93% over the past year.

The Zacks Consensus Estimate for CRS’ fiscal 2027 earnings is pegged at $12.92 per share, indicating a rise of 20.07% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.39%.

The Zacks Consensus Estimate for AVNT’s current-year earnings is pinned at $3.2 per share, indicating a 13.48% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 3.4%. AVNT’s shares have gained 19.6% over the past year.

WILMINGTON, Del., Aug. 24, 2026 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH), is announcing the launch of permexa™ sodium caprate, a high-performance intestinal permeation enhancer designed to support the scalable development and commercialization of oral peptide, biologic and low-permeability drug products, including rapidly expanding GLP-1 agonists and related therapeutic pipelines. 

The launch comes at a time of significant market momentum in oral peptide and biologics development. Pharmaceutical companies continue to invest heavily in oral alternatives to injectable therapies, driven by the potential to improve patient convenience, enhance treatment adherence and unlock new therapeutic opportunities. As a result, pipelines across GLP-1’s, diabetes and weight loss, metabolic disorders, endocrine therapeutics and other peptide-based medicines continue to expand. 

Developers continue to face important challenges as programs move from concept through development and manufacturing, despite growing investment and encouraging clinical progress. Permeability enhancement remains critical for oral drug products, but formulation consistency, process robustness and scalability are increasingly recognized as key barriers to successful commercialization. 

Ashland permexa™ sodium caprate was engineered to help address these challenges by combining established sodium caprate functionality with improved pharmaceutical processing performance. The excipient is designed with an IP-protected process to support more robust tablet manufacturing through improved powder flow, enhanced compressibility and greater formulation consistency, while maintaining the permeability enhancement characteristics required for oral drug delivery applications. The result is a solution intended not only for laboratory success, but also for real-world pharmaceutical development and manufacturing environments where reproducibility, scalability and process robustness are essential. 

The Ashland launch follows strong interest from pharmaceutical developers worldwide. Ahead of the commercial launch, the company recorded engagement with multiple pharmaceutical, biotech and CDMO organizations globally, spanning sampling activities, technical evaluations, pre-launch sales, benchmarking studies and formulation development discussions. Customer feedback has been overwhelmingly positive on the product’s differentiated properties. 

“The rapid growth of oral peptide development is creating demand for excipients that support both biological performance and pharmaceutical manufacturability,” said Alessandra Faccin, senior vice president and general manager, Life Sciences, Ashland. “Permexa™ sodium caprate was engineered to help customers address complex challenges and move more confidently from formulation through commercialization. The level of engagement we have seen prior to launch demonstrates the importance of solutions that support both drug delivery performance and scalable manufacturing.” 

Caroline Cooreman, strategy director, Life Sciences, Ashland, continued, “Consequently, Ashland is not stopping here. We have developed a multi-stage strategy to support the pharmaceutical market with essential excipients for the oral delivery of biologics. We have multiple additional products in the pipeline and recognize important synergies with our vinyl pyrrolidone and derivatives (VP&D) portfolio. We are already actively servicing this market with our established VP&D portfolio, which will be further strengthened by our oral biologics’ portfolio expansion,” she concluded.

For more information about Permexa™ sodium caprate and how the expanded Ashland portfolio of solutions for oral biologics delivery—including product information, technical support and sampling opportunities— interested parties should visit http://ashland.com/permexa  or contact their local Ashland solver. 

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Ashland has identified some of these forward-looking statements with words such as “anticipates,” “believes,” “expects,” “estimates,” “is likely,” “predicts,” “projects,” “forecasts,” “objectives,” “may,” “will,” “should,” “plans” and “intends” and the negative of these words or other comparable terminology. Ashland may from time to time make forward-looking statements in its Annual Report to Stockholders, quarterly reports and other filings with the Securities and Exchange Commission (“SEC”), news releases and other written and oral communications. These forward-looking statements are based on Ashland’s expectations and assumptions, as of the date such statements are made, regarding Ashland’s future operating performance and financial condition, its strategy as well as the economy and other future events or circumstances.

The risks and uncertainties we face which may cause our actual results to differ materially from the results expressed, projected, or implied in these forward-looking statements include, but are not limited to: Ashland’s aggressive growth goals and the extent to which such goals may be impacted by a failure to optimize our tangible and intangible assets, a failure to identify and integrate acquisition targets, any unexpected costs and liabilities associated with such acquisitions, and goodwill impairment; business disruptions stemming from natural, operational, and other catastrophic events, including disruptions to supply and logistics functions, manufacturing delays, and information technology system and network failures; climate change and related resource impacts; changes in consumer preferences and a reduction in demand for Ashland’s products; risks inherent in operating a global business, including tariffs and other trade policies, geopolitical instability and armed conflict, and challenges associated with hiring and managing a diverse workforce across countries with differing laws, regulations, and cultural practices; economic downturns and disruptions in the financial markets; Ashland’s substantial indebtedness, including the possibility that such indebtedness and related restrictive covenants may adversely affect our future cash flows, limit our ability to repay debt and obtain future financing, place Ashland at a competitive disadvantage, and make us more vulnerable to interest rate increases; our ability to develop and market new products and remain competitive in the markets in which we operate; our ability to pass increases in the costs of energy and raw materials to customers and to fulfill our contractual requirements with customers and vendors; downward pressures on prices and margins; the ability to attract and retain key employees and to provide for effective succession planning; cybersecurity risks, including disruptions to or failures in Ashland’s information technology systems and networks, malicious cyberattacks, and the inadvertent or accidental disclosure or loss of proprietary or sensitive information; Ashland’s ability to effectively protect and enforce its intellectual property rights; exposure to products liability claims; risks related to compliance with environmental, health, and safety regulations, including the potential for costly litigation, remediation, and settlement actions; exposure to pending and threatened asbestos-related litigation; changes in the legal and regulatory landscapes in which we operate; and changes in taxation or adverse tax rulings. These risks and uncertainties also include, but are not limited to, the risk factors set forth in Item 1A. “Risk Factors” of Ashland’s most recent Form 10-K, and in our other periodic reports filed with the SEC. Ashland believes its expectations and assumptions are reasonable, but there can be no assurance that the expectations reflected herein will be achieved. Unless legally required, Ashland undertakes no obligation to update publicly any forward-looking statements made in this presentation whether as a result of new information, future events or otherwise. Information on Ashland’s website is not incorporated into or a part of this presentation.

About Ashland
Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 2,900 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more.

™ Trademark, Ashland or its subsidiaries, registered in various countries.

FOR FURTHER INFORMATION:

Investor Relations:Media Relations:Sandy KlugmanCarolmarie C. Brown+1 (302) 594-7777+1 (302) [email protected]@ashland.com Ashland permexa™ sodium caprate Press_Release_Global_Permexa_Launch_FNL_20260824

Ashland permexa™ sodium caprate Ashland advances high-growth oral biologics delivery applications with launch of permexa™ sodium cap...

Ashland Inc. (ASH) remains a Buy, with the investment case now centered on activist-driven M&A potential and strategic alternatives. Life Sciences and Personal Care segments, comprising 82% of gross EBITDA, continue to deliver growth and margin stability, underpinning valuation. Multiple activist investors, including Standard Industries and Ancora, have driven board changes, capital allocation reviews, and engagement with potential acquirers.

Kardigan™, Inc. (Nasdaq: KARD) (“Kardigan” or “the Company”), a clinical-stage precision therapeutics company developing medicines that target the roo

Posted by Defense World Staff on Aug 3rd, 2026

Glenmede Trust Co. NA lowered its stake in Ashland Inc. (NYSE:ASH – Free Report) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,305 shares of the basic materials company’s stock after selling 17,450 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.42% of Ashland worth $10,638,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ASH. Geneos Wealth Management Inc. increased its position in Ashland by 59.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 249 shares in the last quarter. Danske Bank A S bought a new position in Ashland in the 3rd quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd boosted its position in Ashland by 398.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,460 shares of the basic materials company’s stock valued at $70,000 after buying an additional 1,167 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in Ashland by 535.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,348 shares of the basic materials company’s stock valued at $79,000 after buying an additional 1,136 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Ashland by 76.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,098 shares of the basic materials company’s stock worth $101,000 after buying an additional 911 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth ASH has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $85.00 price target on shares of Ashland in a report on Friday. Mizuho raised their price objective on Ashland from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday. Seaport Research Partners upgraded Ashland from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, May 6th. Wells Fargo & Company upped their target price on Ashland from $50.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on Ashland from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.90.

Check Out Our Latest Report on Ashland

Ashland Trading Down 0.1% Shares of NYSE ASH opened at $72.56 on Monday. The firm has a 50 day moving average price of $64.62 and a two-hundred day moving average price of $60.15. The stock has a market cap of $3.32 billion, a P/E ratio of 63.65, a price-to-earnings-growth ratio of 2.31 and a beta of 0.41. Ashland Inc. has a 52-week low of $46.29 and a 52-week high of $74.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05.

Ashland Increases Dividend The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.42 dividend. This is a positive change from Ashland’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 1st. Ashland’s payout ratio is presently 147.37%.

Ashland Profile (Free Report)

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.

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3 chemical stocks to play the industry breakoutAshland NYSE: ASH reported higher sales across all four business units in its fiscal third quarter of 2026, supported by volume growth, pricing actions and demand in its Life Sciences and Personal Care operations. The company reaffirmed its full-year sales and adjusted EBITDA outlook, while lowering its adjusted earnings-per-share growth forecast because of a higher tax rate tied to unfavorable discrete items.

Third-quarter sales rose 7% year over year to $497 million, including 6% volume growth, approximately 1% higher pricing and a roughly $3 million foreign-exchange benefit. Adjusted EBITDA declined to $109 million from $113 million a year earlier, while adjusted EBITDA margin fell to 21.9% from 24.4%.

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Chief Executive Officer Guillermo Novo said the quarter reflected “strong demand, disciplined commercial execution, and healthy free cash flow generation.” He said profitability continued to be affected by production challenges and lower production rates earlier in the fiscal year, though results improved sequentially and the company expects another profitability step-up in the fourth quarter.

Cash Flow, Inventory and Balance Sheet Adjusted earnings per share, excluding amortization expense, were $1.02, compared with $1.04 in the prior-year quarter. Ongoing free cash flow totaled $103 million, versus $108 million a year earlier, representing conversion above 90% of adjusted EBITDA.

CFO William Whitaker said inventory declined nearly $80 million year to date. While lower production rates reduced fixed-cost absorption and weighed on earnings, the inventory reduction supported cash generation and should help reduce inventory-related margin headwinds going forward.

Ashland ended the quarter with $936 million in available liquidity and net leverage of 2.4 times, returning to its long-term target range. The company also refinanced its credit agreement during the quarter, extending maturities and increasing financial flexibility, according to Whitaker.

Segment Results Life Sciences: Sales increased 11% to $180 million, driven by broad pharmaceutical demand, including high-purity excipients and injectables. Adjusted EBITDA rose 11% to $60 million, while margin held at 33%. Senior Vice President Alessandra Faccin said pharma posted its sixth consecutive quarter of year-over-year volume gains. The business also broke ground on a tablet-coating manufacturing facility in India. Personal Care: Sales increased 5% to $155 million, aided by volume growth, commercial wins and favorable mix. Adjusted EBITDA rose to $45 million from $41 million, and margin expanded 110 basis points to 29%. Biofunctional Actives recorded nearly 30% growth in the quarter, while skincare grew at a high-single-digit rate and hair care rose at a mid-single-digit rate. The company also commissioned a new Microbial Protection production facility in Europe. Specialty Additives: Sales rose 4% to $136 million, reflecting share gains, pricing and commercial execution in coatings and performance specialties. Adjusted EBITDA declined to $20 million from $26 million, and margin fell to 14.7% from 19.8%, primarily because of lower fixed-cost absorption tied to earlier operational issues and reduced production rates at Hopewell. The company completed a planned Hopewell turnaround and added process-control and productivity improvements. Intermediates: Sales rose 12% to $37 million, as merchant sales increased to $26 million from $23 million. Demand for NMP from North American electric-vehicle battery and energy-storage customers supported results ahead of planned fourth-quarter shutdowns. Adjusted EBITDA declined to $4 million from $7 million, largely due to lower advanced manufacturing tax-credit benefits compared with the prior year. Operational Improvement Efforts Ashland said progress in its hydroxyethyl cellulose, or HEC, network optimization has been slower than originally anticipated. Novo told analysts that production-related issues, including an earlier equipment failure at Calvert City, weather impacts and Hopewell productivity challenges, reduced fiscal-year EBITDA margin by about 200 basis points.

The company expects benefits from its Hopewell improvements to build over time as production rates increase. Novo said some operational benefits could begin to emerge during the second quarter of fiscal 2027, although the timing of the earnings impact will depend on production and inventory absorption.

Elsewhere, Ashland expects its VP&D manufacturing optimization program to provide approximately $12 million of benefits in fiscal 2026. Its small-plant consolidation effort, completed in the third quarter, is expected to contribute about $3 million of EBITDA benefit this year. Whitaker said the combined $15 million represents structural run-rate savings rather than one-time gains.

Outlook and Strategy Ashland reaffirmed fiscal 2026 sales guidance of $1.835 billion to $1.87 billion and adjusted EBITDA guidance of $385 million to $400 million. It continues to expect ongoing free-cash-flow conversion above 50% of adjusted EBITDA.

The company now expects adjusted EPS growth in the low- to mid-single digits, down from its prior expectation of mid- to high-single-digit growth, reflecting a higher tax rate associated with unfavorable discrete items.

Management said its Globalize initiative has already reached its full-year growth target through the first nine months, while the Innovate program has exceeded its full-year objective. Ashland plans to provide further details on its technology platforms and innovation pipeline during a webinar scheduled for Sept. 17.

Separately, Novo said Ashland reached a cooperation agreement with shareholder Ancora and will add Peter Thomas and Allen Spizzo as independent directors. The board is also forming a capital allocation advisory committee. Novo said the company and its board remain focused on execution, improving operating performance and preserving strategic options to create shareholder value.

About Ashland (NYSE:ASH)Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Ashland Q3 sales rose 7% on higher volumes across all business units and modest pricing gains. ASH reaffirmed fiscal 2026 sales and adjusted EBITDA guidance but trimmed adjusted EPS growth outlook. Ashland expects sequential growth in Q4 as operations strengthen and recent pricing actions gain traction Ashland Inc. (ASH - Free Report) recorded income from continuing operations of $41 million or 89 cents per share for the third quarter of fiscal 2026 (ended June 30, 2026) against a loss from continuing operations of $719 million or $15.70 per share in the prior-year quarter. 

Barring one-time items, adjusted earnings were $1.02 per share, down around 2% from the year-ago quarter figure of $1.04. The bottom line missed the Zacks Consensus Estimate of $1.03. 

Sales increased 7% year over year to $497 million. The top line surpassed the Zacks Consensus Estimate of $486.2 million. Sales volumes rose 6%, with gains across all business units, while pricing increased around 1%. Favorable foreign currency movements contributed $3 million to sales. 

Ashland Inc. Price, Consensus and EPS SurpriseASH’s Segment HighlightsLife Sciences: Sales in the segment increased 11% year over year to $180 million in the reported quarter. The figure surpassed the Zacks Consensus Estimate of $169.5 million. The year-over-year improvement was driven by higher volumes, broad-based pharmaceutical demand across regions and product categories, strength in high-purity excipients and injectables, customer order timing and favorable pricing. 

Personal Care: Sales in the division increased 5% year over year to $155 million. The metric beat the consensus estimate of $154 million. Growth reflected higher volumes across end markets and regions, including strength in skin care, hair care, oral care and home care, along with robust demand for biofunctional actives and microbial protection. 

Specialty Additives: Sales in the segment increased 4% year over year to $136 million and missed the Zacks Consensus Estimate of $139 million. Favorable pricing and mix, continued growth in coatings and performance specialties, share gains and strong commercial execution more than offset weakness in construction and energy and resources. 

Intermediates: Sales in the segment rose 12% year over year to $37 million and beat the consensus estimate of $34 million. The increase reflected higher merchant sales, supported by improving N-Methyl-2-pyrrolidone demand from North American electric-vehicle battery and energy-storage customers, as well as higher captive butanediol sales. 

ASH’s FinancialsCash flows provided by operating activities were $121 million, up from $114 million in the prior-year quarter, primarily reflecting working-capital improvements. Ongoing free cash flow was $103 million compared with $108 million a year ago, with conversion remaining above 90% in both periods. Ashland ended the quarter with net leverage of 2.4 times, returning to its long-term target range. 

ASH’s OutlookFor fiscal 2026, Ashland reaffirmed sales guidance of $1.835-$1.870 billion and adjusted EBITDA outlook of $385-$400 million. The company revised its adjusted EPS outlook, excluding intangible amortization, to low-to-mid-single-digit growth from mid-to-high-single-digit growth due to a higher tax rate associated with unfavorable discrete items. Ongoing free cash flow conversion is expected to exceed 50% of adjusted EBITDA, with capital expenditures of approximately $90 million. Management expects continued sequential improvement in the fourth quarter as operations improve and recent pricing actions gain traction. 

ASH’s Price PerformanceShares of Ashland have gained 35.5% over the past year compared with a 2.7% rise in its industry. 

Image Source: Zacks Investment Research

ASH’s Zacks Rank & Key PicksASH currently carries a Zacks Rank #3 (Hold). 

Some better-ranked stocks in the Basic Materials space are The Chemours Company (CC - Free Report) , Carpenter Technology Corporation (CRS - Free Report)  and Ternium S.A. (TX - Free Report) .  

Chemours is expected to report second-quarter results on Aug. 4. The Zacks Consensus Estimate for CC’s second-quarter earnings is pegged at 43 cents per share. It carries a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here. 

CRS is slated to report fiscal fourth-quarter results on July 30. The Zacks Consensus Estimate for earnings is pegged at $3.03 per share. CRS has a Zacks Rank #1 at present.

Ternium is scheduled to report second-quarter results on Aug. 4. The Zacks Consensus Estimate for TX’s second-quarter earnings is pegged at $1.29 per share. It currently carries a Zacks Rank #1.

Ashland (ASH - Free Report) came out with quarterly earnings of $1.02 per share, missing the Zacks Consensus Estimate of $1.03 per share. This compares to earnings of $1.04 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -0.97%. A quarter ago, it was expected that this chemical company would post earnings of $0.97 per share when it actually produced earnings of $0.91, delivering a surprise of -6.19%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Ashland, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $497 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.21%. This compares to year-ago revenues of $463 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Ashland shares have added about 13.1% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for Ashland?While Ashland has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Ashland was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.31 on $500.89 million in revenues for the coming quarter and $3.51 on $1.86 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Specialty is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Ingevity (NGVT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 29.

This company is expected to post quarterly earnings of $1.31 per share in its upcoming report, which represents a year-over-year change of -5.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Ingevity's revenues are expected to be $299.4 million, down 18% from the year-ago quarter.

Sales of $497 million, up seven percent from the prior-year quarterIncome from continuing operations of $41 million, or $0.89 per diluted shareAdjusted Income from Continuing Operations Excluding Intangibles Amortization Expense of $47 million, or $1.02 per diluted shareNet income of $16 million, or $0.35 per diluted shareSales volumes rose six percent from the prior-year quarter, with gains achieved across all business unitsAdjusted EBITDA of $109 million, down four percent from the prior-year quarter, primarily reflecting growth in Life Sciences and Personal Care, more than offset by lower Specialty Additives and Intermediates earnings Cash flows provided by operating activities of $121 million; Ongoing Free Cash Flow2 of $103 millionReaffirming full‑year fiscal 2026 sales guidance of $1,835-$1,870 million and Adjusted EBITDA guidance of $385-$400 million WILMINGTON, Del., July 28, 2026 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today announced financial results1 for the third quarter of fiscal year 2026, which ended June 30, 2026, and reaffirmed its full-year fiscal 2026 sales and Adjusted EBITDA outlook. Ashland, a global additives and specialty ingredients company, holds leadership positions in high-quality, consumer-focused markets including pharmaceuticals, personal care and architectural coatings.

“Ashland’s third-quarter results reflected broad-based demand and strong commercial execution across the portfolio,” said Guillermo Novo, chair and chief executive officer, Ashland. “Sales increased seven percent year-over-year, with growth achieved across all business units and regions. Our teams continued to successfully recover higher raw material costs through pricing actions, preserving margins while maintaining strong customer relationships. Life Sciences delivered double-digit sales gains, benefiting from broad demand across pharma and continued progress from our globalize and innovate strategies. Personal Care generated another quarter of strong performance, led by momentum in biofunctional actives, high-single-digit growth in skin care, and favorable contributions from hair care and microbial protection. Specialty Additives benefited from continued growth in coatings and performance specialties driven by share gains and strong commercial momentum. In Intermediates, merchant sales increased, reflecting improving  NMP demand for battery-related applications.”

Novo continued, “Our third quarter results reflected continued progress on the initiatives that are strengthening our operations and positioning the company for improved profitability over time. Plant operations improved during the quarter and profitability increased sequentially, and we recognize there is still work to do and expect continued progress as we advance our operational priorities and investments to improve reliability and throughput across the network.”

“Our globalize and innovate strategies continued to exceed our targets, driven by strong customer engagement, innovation execution and momentum across our differentiated portfolio,” Novo said. “We also generated healthy cash flow in the quarter, supported by disciplined inventory management. Importantly, we ended the quarter with net leverage of 2.4x, returning to our long-term target range and further strengthening our financial flexibility. As operational performance continues to improve and production increasingly aligns with demand, we expect greater flexibility across the network and an improving profitability profile. We are also expanding the reach of our technology platforms, creating new opportunities to deliver differentiated solutions, deepen customer engagement and support long-term value creation. While the macroeconomic environment remains uncertain, we remain focused on the factors within our control, including commercial execution, operating performance, cash generation and productivity.”

Third-quarter sales were $497 million, up seven percent from $463 million in the prior-year quarter. Sales volumes increased across all business units. Pricing increased by approximately one percent led by strength in Specialty Additives and Life Sciences. Foreign currency movements contributed a favorable $3 million, or one percent, to sales.

Net income was $16 million, up from a loss of $742 million in the prior year. Income from continuing operations was $41 million, or $0.89 per diluted share, compared to a loss of ($15.70) last year. Adjusted Income from Continuing Operations Excluding Intangibles Amortization Expense was $47 million, down from $48 million, or $1.02 per diluted share versus $1.04 in the prior year. Adjusted Operating Income was $63 million, down from $65 million last year. Adjusted EBITDA was $109 million, representing a 21.9 percent margin, down four percent from $113 million in the prior-year quarter, as favorable volumes and pricing actions were more than offset by the lingering impact of lower production rates experienced earlier in the fiscal year, inflationary cost pressures, and the normalization of incentive compensation from a low prior-year base. Foreign currency movements contributed a favorable $1 million to Adjusted EBITDA.

Average diluted shares outstanding were 46 million in the third quarter, flat versus 46 million in the prior-year quarter.

Cash flows provided by operating activities were $121 million, up from $114 million in the prior-year quarter, driven primarily by working capital improvements. Ongoing Free Cash Flow totaled $103 million versus $108 million in the prior‑year quarter as ongoing free cash flow conversion rates remained above 90% in both periods.

Reportable Segment Performance
To aid in the understanding of Ashland’s ongoing business performance, the results of Ashland reportable segments are described below on an adjusted basis. In addition, EBITDA and Adjusted EBITDA are reconciled to operating income in Table 4. Free Cash Flow, Ongoing Free Cash Flow and Adjusted Operating Income are reconciled in Table 6 and Adjusted Income from Continuing Operations, Adjusted Diluted Earnings Per Share and Adjusted Diluted Earnings Per Share Excluding Intangible Amortization Expense are reconciled in Table 7 of this news release. These adjusted results are considered non-GAAP financial measures. For a full description of the non-GAAP financial measures used, see the “Use of Non-GAAP Measures” section that further describes these adjustments below.

Life Sciences
Sales for the Life Sciences segment totaled $180 million in the third quarter, an increase of 11 percent compared to the prior-year quarter. Performance was driven by higher sales volumes, led by broad-based pharma demand across all major regions and product categories, continued strength in high-purity excipients and injectables, and customer order timing during the quarter. Pharma achieved double-digit sales growth, representing its fifth consecutive quarter of year-over-year volume gains, while Ashland's innovate strategy continued to support momentum in differentiated cellulose grades, injectables and low-nitrite products. Prices increased year-over-year following previously announced pricing actions, and foreign currency movements contributed a favorable impact of approximately $1 million to segment sales.

Adjusted Operating Income for the quarter was $45 million, up from $40 million in the prior‑year quarter. Adjusted EBITDA totaled $60 million, representing a 33 percent margin and an 11 percent increase versus $54 million last year. The year‑over‑year increase was driven primarily by higher volumes and favorable pricing and product mix, partially offset by higher SARD. Foreign currency movements had a negligible impact on Adjusted EBITDA in the quarter. Life Sciences continues to benefit from resilient pharma demand, broad-based volume growth, and strong commercial execution, supported by ongoing momentum across its globalize and innovate strategies.

Personal Care
Personal Care sales in the third quarter were $155 million, an increase of five percent compared to $147 million in the prior-year quarter. Performance was driven by strong volume growth across end markets and regions, including high-single-digit growth in skin care, mid-single-digit growth in hair care and low-single-digit growth in oral and home care. Care Ingredients delivered solid gains, biofunctional actives delivered strong double-digit growth and microbial protection delivered favorable growth supported by double-digit volume gains. Performance was led by the Americas and China and supported by continued progress across Ashland's globalize and innovate strategies. Pricing improved sequentially during the quarter, while foreign currency movements contributed approximately $1 million to segment sales.

Adjusted Operating Income was $30 million, up from $26 million in the prior‑year period. Adjusted EBITDA was $45 million, compared to $41 million in the prior-year quarter, representing a margin of 29 percent. Improved profitability was driven primarily by higher sales volumes and favorable product mix, partially offset by lower pricing. Personal Care delivered strong margins while continuing to advance targeted commercial and innovation initiatives across the portfolio.

Specialty Additives
Specialty Additives sales were $136 million in the third quarter; an increase of four percent compared to the prior-year quarter. Performance was driven by favorable pricing and mix, as continued growth in Coatings and Performance Specialties reflected strong commercial execution and share gains. These strengths more than offset the expected weakness in Construction and Energy and Resources, where market conditions remained challenged reflecting continuous softness in demand and deliberate portfolio management actions. Regionally, most markets improved compared with the prior year driven by strong execution from the commercial team. Foreign currency movements provided a favorable impact of approximately $1 million to segment sales.

Adjusted Operating Income was $5 million, compared to income of $9 million in the prior-year quarter, and Adjusted EBITDA was $20 million, down from $26 million in the prior-year quarter. Results were generally in line with expectations and continued to reflect the carryover effects of the operational challenges and lower production rates discussed earlier in the fiscal year, which contributed to higher operating costs during the quarter. These impacts were partially offset by favorable pricing and product mix. Foreign currency had a negligible impact on Adjusted EBITDA during the quarter.

Intermediates
Intermediates sales totaled $37 million in the third quarter; an increase of twelve percent compared to $33 million in the prior-year quarter. This included $26 million in merchant sales, compared to $23 million in the prior year, and $11 million in captive butanediol (BDO) sales, up $1 million year-over-year. Captive BDO sales are recognized at market‑based pricing. Merchant sales improved, driven by higher N‑Methyl‑2‑pyrrolidone (NMP) demand from North American EV battery and energy-storage customers. Foreign currency movements had a negligible impact on sales in the quarter.

Adjusted Operating Income was $3 million, compared to income of $4 million in the prior-year quarter. Adjusted EBITDA was $4 million, down from $7 million in the prior-year quarter. The year-over-year decline primarily reflected lower advanced manufacturing tax credit benefits compared to the prior-year quarter, while underlying operating performance remained broadly stable. Foreign currency had a negligible impact on Adjusted EBITDA during the quarter.

Unallocated & Other
Unallocated and other expense was $37 million compared to $49 million in the prior-year quarter. The year-over-year improvement primarily reflected favorable corporate items including lower environmental expenses and the benefit of tax credits, partially offset by higher compensation-related expenses. Adjusted unallocated and other expense EBITDA was $20 million compared to $15 million in the prior-year quarter.

Financial Outlook

Ashland is reaffirming its full year fiscal 2026 sales guidance of $1,835 to $1,870 million and its Adjusted EBITDA guidance of $385 to $400 million. Ashland is also revising its adjusted EPS outlook to low-to-mid-single digit growth from mid-to-high-single digit growth, reflecting a higher tax rate associated with unfavorable discrete items. The outlook reflects continued growth across the portfolio, ongoing momentum in higher value applications, increasing realization of recent pricing actions and strong cash generation.

Despite a mixed macroeconomic backdrop, Ashland’s core Life Sciences and Personal Care end markets continue to demonstrate resilient demand, supported by stable fundamentals, continued innovation adoption from customers and strong commercial execution. Specialty Additives trends continue to improve, driven by share gains in coatings and performance specialties.

Ashland continues to benefit from growth in differentiated, higher value applications, including biofunctional actives, microbial protection, injectables and tablet coatings. Recent pricing actions are contributing to results and are expected to provide greater benefit in the fourth quarter as realization increases. Raw material and freight costs are expected to remain elevated amid geopolitical supply pressures, although Ashland expects pricing actions to offset these impacts over time.

Updated guidance

Sales: $1,835 to $1,870 million (no change)Adjusted EBITDA: $385 million to $400 million (no change)Adjusted Diluted Earnings Per Share Excluding Intangibles Amortization: low-to-mid single-digit growthOngoing Free Cash Flow Conversion: greater than 50 percent of Adjusted EBITDA with capital expenditures of approximately $~90 million “As we look ahead, our full year expectations reflect the underlying strength of our portfolio and the momentum we are seeing across the business,” concluded Guillermo Novo, chair and chief executive officer, Ashland. “Our globalize and innovate strategies continue to exceed expectations, demand remains resilient in our core franchise, and our teams are executing well against our innovative Technology Platforms and other priorities that support long term value creation. We expect continued sequential improvement in the fourth quarter as operational performance steadily improves. Combined with strong cash generation and disciplined execution, these actions position Ashland to carry improving earnings momentum into fiscal 2027.“

Conference Call Webcast
The company’s live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 9 a.m. ET on Wednesday, July 29, 2026. Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland.com.

To access the call by phone, please go to this registration link and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

Following the live event, an archived version of the webcast and supporting materials will be available for 12 months at http://investor.ashland.com.

Use of Non-GAAP Measures
Ashland believes that by removing the impact of depreciation and amortization and excluding certain non-cash charges, amounts spent on interest and taxes, and certain other charges that are highly variable from year to year, EBITDA, Adjusted EBITDA, EBITDA Margin and Adjusted EBITDA Margin provide Ashland’s investors with performance measures that reflect the impact to operations from trends in changes in sales, margin and operating expenses, providing a perspective not immediately apparent from net income, operating income, net income margin, and operating income margin. The adjustments Ashland makes to derive the non-GAAP measures of EBITDA, Adjusted EBITDA, EBITDA Margin and Adjusted EBITDA Margin exclude items which may cause short-term fluctuations in net income and operating income and which Ashland does not consider to be the fundamental attributes or primary drivers of its business. EBITDA, Adjusted EBITDA, EBITDA Margin, and Adjusted EBITDA Margin provide disclosure on the same basis as that used by Ashland’s management to evaluate financial performance on a consolidated and reportable segment basis and provide consistency in our financial reporting, facilitate internal and external comparisons of Ashland’s historical operating performance and its business units, and provide continuity to investors for comparability purposes. EBITDA Margin and Adjusted EBITDA Margin are defined as EBITDA and Adjusted EBITDA divided by sales for the corresponding period.

Key items, which are set forth on Table 7 of this release, are defined as financial effects from significant transactions that, either by their nature or amount, have caused short-term fluctuations in net income and/or operating income which Ashland does not consider to reflect Ashland’s underlying business performance and trends most accurately. Further, Ashland believes that providing supplemental information that excludes the financial effects of these items in the financial results will enhance the investor’s ability to compare financial performance between reporting periods.

Tax-specific key items, which are set forth on Table 7 of this release, are defined as financial transactions, tax law changes or other matters that fall within the definition of key items as described above. These items relate solely to tax matters and would only be recorded within the income tax caption of the Statement of Consolidated Income. As with all key items, due to their nature, Ashland does not consider the financial effects of these tax-specific key items on net income to be the most accurate reflection of Ashland’s underlying business performance and trends.

The Free Cash Flow metrics enable Ashland to provide a better indication of the ongoing cash being generated that is ultimately available for both debt and equity holders as well as other investment opportunities. Unlike cash flow provided by operating activities, Free Cash Flow and Ongoing Free Cash Flow include the impact of capital expenditures from continuing operations and other significant items impacting Free Cash Flow, providing a more complete picture of current and future cash generation. Free Cash Flow, Ongoing Free Cash Flow, and Ongoing Free Cash Flow Conversion are non-GAAP liquidity measures that Ashland believes provide useful information to management and investors about Ashland’s ability to convert Adjusted EBITDA to ongoing Free Cash Flow. These liquidity measures are used regularly by Ashland’s stakeholders and industry peers to measure the efficiency at providing cash from regular business activity. Free Cash Flow, Ongoing Free Cash Flow, and Free Cash Flow Conversion have certain limitations, including that they do not reflect adjustments for certain non-discretionary cash flows such as mandatory debt repayments. The amount of mandatory versus discretionary expenditures can vary significantly between periods.

Adjusted Diluted Earnings Per Share is a performance measure used by Ashland and is defined by Ashland as earnings (loss) from continuing operations, adjusted for identified key items and divided by the number of outstanding diluted shares of common stock. Ashland believes this measure provides investors additional insights into operational performance by providing earnings and diluted earnings per share metrics that exclude the effect of the identified key items and tax specific key items.

The Adjusted Diluted Earnings Per Share Excluding Intangibles Amortization Expense metric enables Ashland to demonstrate the impact of non-cash intangibles amortization expense on earnings per share, in addition to key items previously mentioned. Ashland’s management believes this presentation is helpful to illustrate how previous acquisitions impact applicable period results.

Ashland does not quantitatively reconcile our guidance ranges for our non-GAAP measures to their most comparable GAAP measures in the Financial Outlook section of this news release. The guidance ranges for GAAP and non-GAAP financial measures reflect Ashland’s assessment of potential sources of variability in financial results and are informed by evaluation of multiple scenarios, many of which have interactive effects across several financial statement line items. Providing guidance for individual reconciling items between our non-GAAP financial measures and the comparable GAAP measures would imply a degree of precision and certainty in those reconciling items that is not a consistent reflection of our scenario-based process to prepare our guidance ranges. To the extent that a material change affecting the individual reconciling items between the company’s forward-looking non-GAAP and comparable GAAP financial measures is anticipated, the company has provided qualitative commentary in the Financial Outlook section of this news release for your consideration. However, as the impact of such factors cannot be predicted with a reasonable degree of certainty or precision, a quantitative reconciliation is not available without unreasonable effort.

About Ashland 
Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 2,900 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more.  

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Ashland has identified some of these forward-looking statements with words such as “anticipates,” “believes,” “expects,” “estimates,” “is likely,” “predicts,” “projects,” “forecasts,” “objectives,” “may,” “will,” “should,” “plans” and “intends” and the negative of these words or other comparable terminology. Ashland may from time to time make forward-looking statements in its annual reports, quarterly reports and other filings with the U.S. Securities and Exchange Commission (“SEC”), news releases and other written and oral communications. These forward-looking statements are based on Ashland’s expectations and assumptions, as of the date such statements are made, regarding Ashland’s future operating performance, financial, operating cash flow and liquidity, as well as the economy and other future events or circumstances. These statements include, but are not limited to, expectations regarding the impact of operating performance on profitability, improved profitability in the fourth quarter, the expansion of technology platforms, Ashland’s ability to maintain improved earnings momentum into fiscal 2027, and management’s perspectives and projections regarding Ashland’s performance in fiscal year 2026.  

Ashland’s expectations and assumptions include, without limitation, internal forecasts and analyses of current and future market conditions and trends, management plans and strategies, operating efficiencies and economic conditions (such as prices, supply and demand, cost of raw materials, and the ability to recover raw-material cost increases through price increases), and risks and uncertainties associated with the following: Ashland’s aggressive growth goals and the extent to which such goals may be impacted by a failure to optimize our tangible and intangible assets, a failure to identify and integrate acquisition targets, any unexpected costs and liabilities associated with such acquisitions, and goodwill impairment; business disruptions stemming from natural, operational, and other catastrophic events, including disruptions to supply and logistics functions, manufacturing delays, and information technology system and network failures; climate change and related resource impacts; changes in consumer preferences and a reduction in demand for Ashland’s products; risks inherent in operating a global business, including tariffs and other trade policies, geopolitical instability and armed conflict, and challenges associated with hiring and managing a diverse workforce across countries with differing laws, regulations, and cultural practices; economic downturns and disruptions in the financial markets; Ashland’s substantial indebtedness, including the possibility that such indebtedness and related restrictive covenants may adversely affect our future cash flows, limit our ability to repay debt and obtain future financing, place Ashland at a competitive disadvantage, and make us more vulnerable to interest rate increases; our ability to develop and market new products and remain competitive in the markets in which we operate; our ability to pass increases in the costs of energy and raw materials to customers and to fulfill our contractual requirements with customers and vendors; downward pressures on prices and margins; the ability to attract and retain key employees and to provide for effective succession planning; cybersecurity risks, including disruptions to or failures in Ashland’s information technology systems and networks, malicious cyberattacks, and the inadvertent or accidental disclosure or loss of proprietary or sensitive information; Ashland’s ability to effectively protect and enforce its intellectual property rights; exposure to products liability claims; risks related to compliance with environmental, health, and safety regulations, including the potential for costly litigation, remediation, and settlement actions; exposure to pending and threatened asbestos-related litigation; changes in the legal and regulatory landscapes in which we operate; changes in taxation or adverse tax rulings; and, without limitation, risks and uncertainties affecting Ashland that are described in Ashland’s most recent Annual Report on Form 10-K (including Item 1A Risk Factors) filed with the SEC, which is available on Ashland’s website at http://investor.ashland.com or on the SEC’s website at http://www.sec.gov. Various risks and uncertainties may cause actual results to differ materially from those stated, projected or implied by any forward-looking statements. Ashland believes its expectations and assumptions are reasonable, but there can be no assurance that the expectations reflected herein will be achieved. Unless legally required, Ashland undertakes no obligation to update any forward-looking statements made in this news release whether as a result of new information, future events or otherwise.

1Financial results are preliminary until Ashland’s Form 10-Q is filed with the U.S. Securities and Exchange Commission.

2The Ongoing Free Cash Flow metric excludes the impact of inflows and outflows from U.S. and Foreign Accounts Receivable Sales Program and payments related to restructuring and environmental and litigation-related matters in both the current-year and prior-year periods.

™ Trademark, Ashland or its subsidiaries, registered in various countries.

FOR FURTHER INFORMATION:

Investor Relations:Media Relations:Sandy KlugmanCarolmarie C. Brown+1 (302) 594-7777+1 (302) [email protected]@ashland.com Ashland_Q3_ 2026_Earnings_ Release_FNL_20260728 Ashland_Q3_ 2026_Earnings_ Release_With_Financial_Tables_FNL_20260728 Ashland_Earnings_ Release_Tables_Q3_FY26_FNL_20260728

WILMINGTON, Del., July 14, 2026 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today announced plans to issue its third-quarter fiscal 2026 earnings release at approximately 5 p.m. ET on Tuesday, July 28, 2026. The company’s live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 9 a.m. ET on Wednesday, July 29.  Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland.com.

Among those participating in the webcast presentation will be:

Guillermo Novo, chair, and chief executive officerWilliam Whitaker, senior vice president, and chief financial officerDago Caceres, senior vice president, general manager, specialty additivesAlessandra Faccin, senior vice president, general manager, life sciences and intermediatesJim Minicucci, senior vice president, general manager, personal careSandy Klugman, director, investor relations To access the call by phone, please go to this registration link and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

The webcast and supporting materials will be accessible through the Investor Relations section of Ashland's website at http://investor.ashland.com. Following the live event, an archived version of the webcast and supporting materials will be available on the Ashland website for 12 months.

About Ashland 
Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 2,900 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more.

™ Trademark, Ashland, or its subsidiaries, registered in various countries.

FOR FURTHER INFORMATION:

ASH_Q3_2026_press_release_earnings_webcast_date_notification_FNL_20260714

WILMINGTON, Del., May 05, 2026 (GLOBE NEWSWIRE) -- The board of directors of Ashland Inc. (NYSE: ASH) has declared a quarterly cash dividend of $0.42 cents per share on the company's common stock which represents a 1.2 percent increase from the previous quarter. The dividend will be payable on June 15, 2026, to stockholders of record at the close of business on June 1, 2026.

As of April 30, 2026, there were 45,788,007 shares of Ashland common stock outstanding.

About Ashland 
Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 2,900 passionate, tenacious solvers thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more. 

™ Trademark, Ashland or its subsidiaries, registered in various countries.

FOR FURTHER INFORMATION:

Ashland_board_authorizes_quarterly_dividend_FNL_20260505

NEW YORK, May 12, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ashland Inc. (“Ashland” or the “Company”) (NYSE: ASH). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Ashland and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On April 28, 2026, Ashland issued a press release reporting its second quarter 2026 results and updating its full-year outlook.  Among other items, Ashland reported both revenue and non-GAAP earnings per share that fell short of consensus estimates.  CEO Guillermo Novo said that “results were impacted by specific operational challenges” and that “[o]perational headwinds associated with the ramp-up at our Hopewell manufacturing facility weighed on overall results.”  Ashland also provided updated full-year sales and EBITDA guidance to “reflect[] productivity challenges associated with the Hopewell scale-up, as well as softer energy-related demand tied to the Middle East conflict and reduced EV driven demand for BDO based derivatives.” 

On this news, Ashland’s stock price fell $7.85 per share, or 13.77%, to close at $49.15 per share on April 29, 2026. 

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

LOS ANGELES, May 13, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ashland Inc. (“Ashland” or “the Company”) (NYSE: ASH) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ashland reported its Q2 2026 financial results on April 28, 2026. The Company reported revenue and earnings per share that fell short of analyst estimates. The Company’s CEO claimed that "results were impacted by specific operational challenges" and that "operational headwinds associated with the ramp-up at our Hopewell manufacturing facility weighed on overall results." The Company also updated its full-year guidance to "reflect productivity challenges associated with the Hopewell scale-up, as well as softer energy-related demand tied to the Middle East conflict and reduced EV driven demand for BDO based derivatives." Based on this news, shares of Ashland fell by almost 13.8% on the next day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm 
Brian Schall, Esq. 
310-301-3335
[email protected]

www.schallfirm.com

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Ashland Inc. - ASH PR Newswire

NEW YORK, May 14, 2026

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ashland Inc. ("Ashland" or the "Company") (NYSE: ASH). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Ashland and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On April 28, 2026, Ashland issued a press release reporting its second quarter 2026 results and updating its full-year outlook. Among other items, Ashland reported both revenue and non-GAAP earnings per share that fell short of consensus estimates. CEO Guillermo Novo said that "results were impacted by specific operational challenges" and that "[o]perational headwinds associated with the ramp-up at our Hopewell manufacturing facility weighed on overall results." Ashland also provided updated full-year sales and EBITDA guidance to "reflect[] productivity challenges associated with the Hopewell scale-up, as well as softer energy-related demand tied to the Middle East conflict and reduced EV driven demand for BDO based derivatives."

On this news, Ashland's stock price fell $7.85 per share, or 13.77%, to close at $49.15 per share on April 29, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

View original content to download multimedia:https://www.prnewswire.com/news-releases/investor-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-ashland-inc---ash-302773114.html

SOURCE Pomerantz LLP

NEW YORK, May 19, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ashland Inc. (“Ashland” or the “Company”) (NYSE: ASH).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Ashland and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On April 28, 2026, Ashland issued a press release reporting its second quarter 2026 results and updating its full-year outlook.  Among other items, Ashland reported both revenue and non-GAAP earnings per share that fell short of consensus estimates.  CEO Guillermo Novo said that “results were impacted by specific operational challenges” and that “[o]perational headwinds associated with the ramp-up at our Hopewell manufacturing facility weighed on overall results.”  Ashland also provided updated full-year sales and EBITDA guidance to “reflect[] productivity challenges associated with the Hopewell scale-up, as well as softer energy-related demand tied to the Middle East conflict and reduced EV driven demand for BDO based derivatives.” 

On this news, Ashland’s stock price fell $7.85 per share, or 13.77%, to close at $49.15 per share on April 29, 2026. 

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

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A month has gone by since the last earnings report for Ashland (ASH - Free Report) . Shares have added about 16.6% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Ashland due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Ashland Inc. before we dive into how investors and analysts have reacted as of late.

Ashland’s Q2 Earnings and Sales Miss on Weak Pricing, Intermediates Weakness Ashland recorded income from continuing operations of $15 million or 32 cents per share for the second quarter of fiscal 2026 (ended March 31, 2026) compared with income of $30 million or 63 cents per share in the prior-year quarter.

Barring one-time items, adjusted earnings were 91 cents per share, down 8% from the year-ago quarter figure of 99 cents. The bottom line missed the Zacks Consensus Estimate of 97 cents.

Sales were up around 1% year over year to $482 million. The top line missed the Zacks Consensus Estimate of $490.8 million. Sales for the second quarter benefited from strength in Personal Care, resilient performance in Life Sciences and stabilization in Specialty Additives, partly offset by softness in Intermediates and lower pricing across segments.

Segment HighlightsLife Sciences: Sales in the segment were flat year over year at $172 million in the reported quarter. The figure missed the Zacks Consensus Estimate of $180 million. Performance reflected higher sales volumes within pharma applications, where demand remained resilient across most regions 

Personal Care: Sales in the division increased 3% year over year to $150 million. The metric missed the Zacks Consensus Estimate of $153 million. The year-over-year rise was driven by double-digit growth across the global platform, led by robust momentum in biofunctional actives, continued traction in microbial protection and strong execution across key care ingredients categories. 

Specialty Additives: Sales in the segment were flat year over year at $134 million and were in line with the Zacks Consensus Estimate. Performance reflected stable volumes driven by strong execution and continued share gains in coatings and performance specialties. 

Intermediates: Sales in the segment went down 5% year over year to $35 million. The figure missed the Zacks Consensus Estimate of $36.3 million. The decrease reflected stable market conditions in a trough environment, with lower BDO demand and pricing versus the prior year, as well as commercial and operating impacts related to the Calvert City outage. 

FinancialsCash and cash equivalents were $343 million at the end of the quarter, up around 12.8% sequentially. Long-term debt was $1,374 million, down roughly 0.9% from the prior quarter.  

OutlookFor fiscal 2026, Ashland expects sales to be in the range of $1.835-$1.870 billion and adjusted EBITDA to be $385-$400 million. Adjusted EPS, excluding intangible amortization, is forecast to deliver mid-to-high single-digit growth, while ongoing free cash flow conversion is targeted at roughly 50% of adjusted EBITDA, with capital expenditure of about $100 million. 

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.

The consensus estimate has shifted -9.4% due to these changes.

VGM ScoresAt this time, Ashland has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Following the exact same course, the stock has a score of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Ashland has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.

CLEVELAND--(BUSINESS WIRE)--Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora”) today released a presentation (available here) detailing what it believes is a near-term opportunity to realize the intrinsic value of Ashland Inc. (NYSE: ASH) (“Ashland” or the “Company”) through a sale of the Company. Ancora plans to engage in a constructive and open dialogue with Ashland to gauge the Board of Directors' willingness to evaluate the Company's standalone prospects versus a potent.

WILMINGTON, Del., June 10, 2026 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE:ASH) today issued the following statement in response to the investor presentation released by Ancora Alternatives LLC:

Ashland’s Board of Directors and management team are committed to driving sustainable value creation for all shareholders.  The Board recognizes and respects diverse perspectives and welcomes constructive input from shareholders.  While Ancora did not engage with Ashland prior to its presentation, Ashland intends to engage with Ancora in a manner consistent with that commitment as part of its ongoing dialogue with investors.

Ashland remains focused on its growth strategies to execute, globalize, innovate and invest while continuing to improve operational performance and cash generation.  Ashland believes these priorities will continue to position the company to convert its transformation into sustained financial and operating performance.

Ashland’s Board frequently evaluates Ashland’s strategy and value creation opportunities on an ongoing basis. This evaluation includes a regular review of the company’s operating plan, portfolio priorities and capital policy, as well as other strategic opportunities. The Board will continue to make decisions based on the best interest of the company and all of its shareholders. Ashland looks forward to continued constructive engagement with shareholders.  

About Ashland 
Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 2,900 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more.

™ Trademark, Ashland or its subsidiaries, registered in various countries.

FOR FURTHER INFORMATION:

Ashland_responds_to_investor_presentation_by_Ancora_Alternatives_LLC_FNL_20260610