Ashland (ASH) Q4 2026 Earnings
Adjusted EPS excludes Q4 key items including $18 million asset impairments, $13 million Argentina liquidation cumulative translation adjustment, $9 million restructuring, separation and other costs, $5 million environmental reserve adjustments, $3 million other plant optimization costs, $9 million unrealized losses on securities, $7 million tax valuation allowance item, and $11 million (net of tax) intangibles amortization; GAAP diluted EPS from continuing operations was ($0.36)
How Did ASH Stock React to Q4 2026 Earnings?
Did ASH Beat Earnings? Q4 2026 Results
No. Ashland reported Q4 2026 earnings of $1.12 a share on Nov 3, 2026, missing the $1.27 consensus estimate by 11.6%. Revenue was $498.0M against a $501.8M estimate.
Ashland Inc. closed fiscal 2026 on a disappointing note, with fourth-quarter adjusted EPS of $1.12 missing the Wall Street consensus of $1.27 by 11.57% and revenue of $498.00 million coming in 0.76% below the $501.82 million estimate, though sales still grew 4.2% year over year. The headline GAAP result was decidedly worse, with the company reporting a loss from continuing operations of $17.00 million, dragged down by $18.00 million in asset impairments concentrated in Life Sciences, a $13.00 million cumulative translation adjustment from liquidating its Argentine entity, and a cluster of restructuring and environmental charges. The quarter's soft adjusted performance was further complicated by Specialty Additives, where weak Energy and Resources demand and poor productivity at the Hopewell HEC plant caused segment Adjusted EBITDA to fall 31%, a drag management says is now behind it following completed capital investments. Looking ahead, Ashland guided fiscal 2027 sales of $1.91 billion to $1.98 billion and Adjusted EBITDA of $405.00 million to $435.00 million, with a stronger dollar expected to present headwinds of $20.00 million to $25.00 million to sales.
- Sales volumes up 3% led by Pharma, Personal Care, Coatings and Performance Specialties
- Pricing up 2%, covering raw material cost inflation
- Pharma sales up approximately 6%, sixth consecutive quarter of YoY volume growth
- Life Sciences Adjusted EBITDA up 16% with margin of 35.6%, highest in segment history
- Personal Care double-digit growth in biofunctional actives, microbial protection and hair care
- Specialty Additives Coatings sales up 9% and Performance Specialties up 14%
- Lower Hopewell productivity and unfavorable absorption cut Specialty Additives Adjusted EBITDA 31%
- Operating cash flow rose to $90 million from $40 million on lower working capital
“Ashland closed fiscal 2026 with strong commercial performance across our higher-growth Life Sciences and Personal Care businesses, as well as coatings and performance specialties within Specialty Additives, and improved profitability in Intermediates.”
Ashland CEO, on the earnings call
What Is Ashland's Outlook?
Fiscal 2027 guidance calls for sales of $1,905–$1,975 million (about 2–6% growth) and Adjusted EBITDA of $405–$435 million. Ongoing Free Cash Flow conversion is expected to exceed 40% of Adjusted EBITDA, reflecting a modest inventory increase and capex of up to about $140 million. Key planning assumptions: - Demand in Life Sciences and Personal Care is expected to stay resilient. - Coatings and Performance Specialties should build on commercial momentum. - Intermediates should benefit from new energy-storage customer volumes. - Pricing is expected to offset volatile raw material and freight costs. - Manufacturing productivity should improve. - A stronger U.S. dollar implies headwinds of about $20–$25 million to sales and $7–$10 million to Adjusted EBITDA. Strategic targets for fiscal 2027: - Execute: about $10 million in net productivity benefits. - Globalize: about $20 million in incremental sales. - Innovate: $45 million in incremental sales.
ASH YoY Financials
| Metric | Q4 2026 | Q4 2025 | Year over year |
|---|---|---|---|
| Revenue | $498.0M | $478.0M | +4.2% |
| Gross Profit | $179.0M | $159.0M | +12.6% |
| Operating Income | $29.0M | $61.0M | −52.5% |
ASH Revenue by Segment
When Does Ashland Report Next?
Figures from SEC filings and company reports. Not investment advice.