ASH - Ashland FQ2 results miss estimates co cuts FY 2023 sales adj. EBITDA guidance
2023-05-02 17:27:13 ET
- Ashland press release ( NYSE: ASH ): FQ2 Non-GAAP EPS of $1.43 misses by $0.11 .
- Revenue of $603M (-0.2% Y/Y) misses by $24.61M .
- Now expects sales in FY 2023 to be in the range of $2.3 billion to $2.4 billion from $2.5 billion to $2.7 billion previously. The consensus estimate is $2.52B.
- Inventory-control actions are expected to negatively impact adj. EBITDA in the second half of the fiscal year by approximately $20 million.
- Now expects FY 2023 adj. EBITDA to be in the range of $580 million to $610 million from $600 million to $650 million previously.
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Ashland FQ2 results miss estimates, co cuts FY 2023 sales, adj. EBITDA guidance