Inferra AI / Company / ASH
Ashland Inc.
ASH · Industrials
Last earnings Jul 28, 2026
Key results
Net incomequarter
$16 million
Net income of $16 million, or $0.35 per diluted share •
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Net income was $16 million, up from a loss of $742 million in the prior year.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Adjusted operating incomequarter
$63 million
Adjusted Operating Income was $63 million, down from $65 million last year.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Ongoing free cash flowquarter
$103 million
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Life Sciences revenuequarter
$180 million
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Revenuequarter
$1 million
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Adjusted Operating Income for the quarter was $45 million, up from $40 million in the prior‑year quarter.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Pricing improved sequentially during the quarter, while foreign currency movements contributed approximately $1 million to segment sales.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
AI analysis
Q3 2026 · reported Jul 28, 2026
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
The quarter in charts
Guidance ladder — revenue
Delivered vs the company's guided range
EX-99 · Jul 28, 2026 Guide as stated by the company; range and midpoint computed from the stated figure.
Headline figures
| Metric | Q3 2026 | Prior qtr | Year ago |
|---|---|---|---|
| Net income | $16 million | — | — |
| Adjusted operating income | $63 million | — | $65 million |
| Ongoing free cash flow | $103 million | — | — |
| Life Sciences revenue | $180 million | — | — |
| Revenue | $1 million | — | — |
Guidance · company-stated
Direction: Reiterated
“1 Ashland reports third quarter 2026 results and reaffirms full-year sales & Adjusted EBITDA outlook • Sales of $497 million, up seven percent from the prior-year quarter • Income from continuing operations of $41 million, or $0.”
“35 per diluted share • Sales volumes rose six percent from the prior-year quarter, with gains achieved across all business units • Adjusted 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 Flow 2 of $103 million • Reaffirming full‑year fiscal 2026 sales guidance of $1,835-$1,870 million and Adjusted EBITDA guidance of $385-$400 million WILMINGTON, Del.”
“4 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.”
“The outlook reflects continued growth across the portfolio, ongoing momentum in higher value applications, increasing realization of recent pricing actions and strong cash generation.”
Classified from the release's primary full-year outlook statement.
Cash flow & capex
Capital allocation
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 growth • Ongoing 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.
What changed vs last quarter
- Guide midpoint vs latest-quarter revenue +49600.0% computed from stated figures
Event summary
“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
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
Direction: Reiterated
Revenue: “1 Ashland reports third quarter 2026 results and reaffirms full-year sales & Adjusted EBITDA outlook • Sales of $497 million, up seven percent from the prior-year quarter • Income from continuing operations of $41 million, or $0.”
Revenue: “35 per diluted share • Sales volumes rose six percent from the prior-year quarter, with gains achieved across all business units • Adjusted 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 Flow 2 of $103 million • Reaffirming full‑year fiscal 2026 sales guidance of $1,835-$1,870 million and Adjusted EBITDA guidance of $385-$400 million WILMINGTON, Del.”
Revenue: “4 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.”
Company outlook: “The outlook reflects continued growth across the portfolio, ongoing momentum in higher value applications, increasing realization of recent pricing actions and strong cash generation.”
Revenue — Reiterated (“reaffirms”)
“1 Ashland reports third quarter 2026 results and reaffirms full-year sales & Adjusted EBITDA outlook • Sales of $497 million, up seven percent from the prior-year quarter • Income from continuing operations of $41 million, or $0.”
Revenue — Reiterated (“Reaffirming”)
“35 per diluted share • Sales volumes rose six percent from the prior-year quarter, with gains achieved across all business units • Adjusted 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 Flow 2 of $103 million • Reaffirming full‑year fiscal 2026 sales guidance of $1,835-$1,870 million and Adjusted EBITDA guidance of $385-$400 million WILMINGTON, Del.”
Revenue — Reiterated (“reaffirmed”)
“(NYSE: ASH) today announced financial results 1 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.”
Revenue — Reiterated (“reaffirming”)
“4 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.”
Company outlook — Raised (“increasing”)
“The outlook reflects continued growth across the portfolio, ongoing momentum in higher value applications, increasing realization of recent pricing actions and strong cash generation.”
Classified from the release's primary full-year outlook statement.
Capital allocation
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 growth • Ongoing 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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Other financial instruments At June 30, 2026 and September 30, 2025 , Ashland's long-term debt (including the current portion and excluding debt issuance cost discounts) had a carrying value of $ 1,383 million and $ 1,394 million, respectively, compared to a fair value of $ 1,369 million and $ 1,366 million, respectively.
SEC original ↗Ashland Inc. — 10-Q Quarterly report10-QJul 29, 2026
The fair values of long-term debt are based on quoted market prices (level 1 of the fair value hierarchy).
SEC original ↗Ashland Inc. — 10-Q Quarterly report10-QJul 29, 2026
Strategy & priorities
Life Sciences delivered double-digit sales gains, benefiting from broad demand across pharma and continued progress from our globalize and innovate strategies.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
” 1 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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
” “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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
While the macroeconomic environment remains uncertain, we remain focused on the factors within our control, including commercial execution, operating performance, cash generation and productivity.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Risks & headwinds
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Accounts Receivable Sales Program (b) (8 ) 1 (9 ) 11 Cash inflows from Foreign Accounts Receivable Sales Program (c) (5 ) (4 ) (12 ) (13 ) Restructuring-related payments (d) 8 6 18 23 Environmental and related litigation payments (e) 7 11 21 24 Ongoing Free Cash Flow $ 103 $ 108 $ 159 $ 75 Net income (loss) $ 16 $ (742 ) $ 20 $ (877 ) Adjusted EBITDA (f) $ 109 $ 113 $ 265 $ 282 Operating Cash Flow Conversion (g) 756 % Not meaningful 1475 % Not meaningful Ongoing Free Cash Flow Conversion (h) 95 % 96 % 60 % 27 % (a) Represents receipt of tax refund related to the capital loss carryback from the Nutraceutical business divestiture.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
(e) Represents cash outflows associated with environmental and related litigation payments which will be reimbursed by the Environmental trust.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
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.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Various risks and uncertainties may cause actual results to differ materially from those stated, projected or implied by any forward-looking statements.
SEC original ↗Ashland Inc. — Earnings release (8-K exhibit)EX-99Jul 28, 2026
Use of estimates, risks and uncertainties The preparation of the Condensed Consolidated Financial Statements in conformity with U.
SEC original ↗Ashland Inc. — 10-Q Quarterly report10-QJul 29, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
31 documents- Q2 2026
- 8-KASH
Sep 25, 2026
- 8-K/AASH
Aug 10, 2026
- 8-KASH
Jul 31, 2026
- 10-QASH
Jul 29, 2026
- 8-KASH
Jul 28, 2026
- 8-KASH
Jul 28, 2026
- Q1 2026
- 8-KASH
May 29, 2026
- 8-KASH
May 18, 2026
- EX-99ASH
May 18, 2026
- 10-QASH
Apr 29, 2026
- 8-KASH
Apr 28, 2026
- Q4 2025
- 10-QASH
Feb 3, 2026
- 8-KASH
Feb 2, 2026
- 8-KASH
Jan 27, 2026
- 8-KASH
Jan 22, 2026
- Q3 2025
- 10-KASH
Nov 20, 2025
- 8-KASH
Nov 4, 2025
- Q2 2025
- 8-KASH
Sep 18, 2025
- 10-QASH
Jul 30, 2025
- 8-KASH
Jul 29, 2025
- 8-K/AASH
Jul 28, 2025
- 8-KASH
Jul 21, 2025
- 8-KASH
Jul 14, 2025
- Q1 2025
- 8-KASH
May 5, 2025
- 10-QASH
May 1, 2025
- 8-KASH
Apr 30, 2025
- Q4 2024
- 10-QASH
Jan 29, 2025
- 8-KASH
Jan 28, 2025
- 8-KASH
Jan 22, 2025
- Q3 2024
- 8-KASH
Nov 25, 2024
- 10-KASH
Nov 18, 2024
Earnings releases
8 documentsPresentations
0 documentsNo presentations for Ashland Inc. are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Ashland Inc. are held in this edition of the library.
Mentioned by
3 companiesOther tracked companies whose held documents mention Ashland Inc. by name or ticker. A mention is counted once per document, from the document text the library holds.
“… Ashland City tour 11:00 a.m. Global Manufacturing Steve Anderson Strategic Aspirations & Acquisitions Paul Jones Financial Aspirations John Kita, ”
Cbl & Associates Properties Inc. (CBL)
“were thrilled to add four dominant malls to our portfolio in July with the acquisition of Ashland Town Center in Ashland, KY; Mesa Mall in Grand Junction, CO; Paddock Mall in Ocala, FL; … … to common shareholders $ 74,267 $ 15,865 ”
Rigel Pharmaceuticals Inc. (RIGL)
“e ,” said Raul Rodriguez, Rigel’s president… … R289 Phase 1b study to be presented at the ASH Annual Meeting in December · Updated 2025 Outlook: Total revenue of approximately $285 to $290 million, which includes net product sales of $225 t”
See also the earnings calendar for every tracked company’s next earnings date.