Ashland (ASH) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 28, 2026

After Close (Confirmed)

Period Ending

2026 (Q3)

Consensus EPS Forecast

1.13

Last Year’s EPS

1.04

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 9 Analysts Ratings

Earnings Call Summary

Q2 2026

Earnings Call Date:Apr 28, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presented a mixed picture: underlying end‑market demand in consumer‑facing businesses (Life Sciences and Personal Care) and innovation/globalization momentum are clear positives — innovation has already exceeded targets and cash generation was strong. However, material internal execution issues (Calvert City outage, weather disruptions and the Hopewell HEC ramp) and margin compression meaningfully pressured near‑term results and led to a prudent trimming of guidance. Management emphasizes these operational items are internal and actionable while maintaining longer‑term cost‑saving targets and strategic paths to growth.

Company Guidance

Ashland updated fiscal 2026 guidance to sales of $1.835–$1.87 billion and adjusted EBITDA of $385–$400 million, with adjusted EPS growth of mid‑single to high‑single digits and ongoing free cash‑flow conversion of ~50% of adjusted EBITDA; management said fiscal manufacturing‑optimization benefits were reduced by ~$10–$12 million due to Hopewell timing delays but reaffirmed a longer‑term target of $50–$55 million (opportunity to ~ $60M with China recovery). Year‑to‑date Globalize incremental contribution was ~$8–11M and Innovate delivered ~ $10M this quarter (exceeding the $15M full‑year Innovate target), supporting a combined FY revenue commitment of $35M. Q2 results: sales $482M (+1% y/y), adjusted EBITDA $98M (‑9% y/y; margin ~20%, down 220 bps), adjusted EPS ex amortization $0.91 (‑8%), operating cash flow $50M (vs $9M LY), ongoing free cash flow $29M, total liquidity ~$939M, net debt just over $1B (net leverage ~2.7x), and an FX tailwind of ~$16M to sales; segment highlights included Life Sciences $172M sales / $50M adj EBITDA (29% margin), Personal Care $150M / $43M (≈29% margin), Specialty Additives $134M / $16M (11.9% margin), and Intermediates $35M / $5M.

Consolidated Sales Growth

Second quarter sales of $482 million, up 1% year-over-year; foreign exchange was a meaningful tailwind of approximately $16 million (~3% of sales).

Strong Cash Generation and Liquidity

Operating cash flow of $50 million versus $9 million prior year; ongoing free cash flow of $29 million; total available liquidity of approximately $939 million and net leverage of roughly 2.7x (net debt just over $1 billion).

Innovation Momentum Exceeding Targets

Innovate platform delivered approximately $10 million of incremental sales in Q2 and has already exceeded the original $15 million full-year target after two quarters; Globalize incremental contribution increased ~ $8 million to $11 million fiscal year-to-date.

Life Sciences Resilience

Life Sciences sales of $172 million, flat year-over-year; pharma delivered low single-digit growth for fourth consecutive quarter with injectables posting a record Q2 and continued adoption of high-purity excipients; FX contributed ~ $6 million to sales.

Personal Care Broad-Based Growth

Personal Care sales $150 million, up 3% year-over-year (4% on a comparable basis); biofunctional actives delivered robust double-digit growth; new product launches (e.g., Essernonite) and continued microbial protection share gains; adjusted EBITDA near prior-year levels with margin ~29%.

Intermediates Profitability Improvement Despite Trough Volumes

Intermediates sales $35 million, down 5% year-over-year, but adjusted EBITDA improved to $5 million from $2 million a year ago due to disciplined cost management and favorable manufacturing input actions.

Operational Discipline and Structural Cost Targets Intact

Management reiterated longer-term manufacturing optimization target of $50 million to $55 million of sustainable annual cost savings (upside to ~$60 million if China volumes recover) despite timing delays; VP&D and small plant consolidation initiatives remain on track.

Prudent Updated Guidance

Updated fiscal 2026 guidance: sales $1.835 billion to $1.87 billion, adjusted EBITDA $385 million to $400 million, adjusted EPS growth mid-single to high-single digits, and ongoing free cash flow conversion of ~50% of adjusted EBITDA — reflecting conservatism given near-term uncertainty.

Ashland (ASH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ASH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 28, 2026	2026 (Q3)	1.13 / -	1.04	―	―	―
Apr 28, 2026	2026 (Q2)	0.96 / 0.91	0.99	-8.08% (-0.08)
Feb 02, 2026	2026 (Q1)	0.26 / 0.26	0.28	-7.14% (-0.02)
Nov 04, 2025	2025 (Q4)	1.24 / 1.08	1.26	-14.29% (-0.18)
Jul 29, 2025	2025 (Q3)	1.21 / 1.04	1.49	-30.20% (-0.45)
Apr 30, 2025	2025 (Q2)	1.10 / 0.99	1.27	-22.05% (-0.28)
Jan 28, 2025	2025 (Q1)	0.17 / 0.28	0.45	-37.78% (-0.17)
Nov 06, 2024	2024 (Q4)	1.28 / 1.26	0.41	207.32% (+0.85)
Aug 06, 2024	2024 (Q3)	1.45 / 1.49	1.23	21.14% (+0.26)
Apr 30, 2024	2024 (Q2)	1.14 / 1.27	1.43	-11.19% (-0.16)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ASH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 28, 2026	$57.00	$49.15	-13.77%
Feb 02, 2026	$61.15	$60.67	-0.78%
Nov 04, 2025	$47.15	$50.01	+6.06%
Jul 29, 2025	$49.09	$51.83	+5.58%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.