10-Q · February 3, 2026
Ashland reported quarterly sales of $386 million, down $19 million (‑4.7%) year-over-year and down $91 million versus the prior quarter. GAAP net loss narrowed to $12 million (loss of $0.26 per share) from a $165…
Earnings analysis · 10-Q
ASH earnings analysis
Filed April 29, 2026 · Our reading of the company's report
The latest report
Ashland reported Q2 2026 revenue of $482 million, a slight increase of 1% year-over-year, while EPS was reported at $0.34, missing estimates of $0.95. The company continues to face operational challenges but achieved…
Read full summary
Ashland reported Q2 2026 revenue of $482 million, a slight increase of 1% year-over-year, while EPS was reported at $0.34, missing estimates of $0.95. The company continues to face operational challenges but achieved positive cash flow from operations. Management anticipates ongoing adjustments in response to geopolitical factors and market conditions.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.34
- Segment
- Life Sciences
- Segment
- Personal Care
- Segment
- Specialty Additives
- Segment
- Intermediates
What stood out
-
Revenue Slightly Up YoY
Q2 2026 revenue was $482 million, up 1% from $479 million in Q2 2025.
-
EPS Lower than Expectations
Diluted EPS for Q2 2026 was $0.34, below the estimate of $0.95.
-
Positive Free Cash Flow
Free cash flow stood at $95 million for Q2 2026, showing solid cash generation despite operational challenges.
-
Cost Reduction Initiatives
Restructuring actions resulted in $10 million savings, indicating ongoing efforts to enhance operational efficiency.
-
Improved SG&A Expense
Selling, general, and administrative expenses decreased by $6 million to $79 million, benefiting from restructuring actions.
-
Segment Resilience
Life Sciences segment remains strong, contributing 36% to total sales, consistent with prior year.
What to watch
-
Operational Challenges Persist
Continued issues with soft pricing and startup delays at Calvert City affecting profitability.
-
Geopolitical Risks
Uncertainties from ongoing geopolitical conflicts (e.g., Ukraine/Russia) present risks to supply chains and market stability.
-
Tariffs and Trade Policies
Ongoing risks related to tariffs could strain supply chains and increase operational costs.
Management's outlook
Updated full-year revenue guidance reflects slower-than-expected ramp-up at Hopewell.
Earlier filings 4
10-K · November 20, 2025
Ashland positions itself as a global additives and specialty ingredients company focused on sustainability and differentiated chemistries across four reportable segments (Life Sciences, Personal Care, Specialty…
10-Q · July 30, 2025
Ashland reported a $463 million quarter (down $81 million vs. prior year) with a $742 million net loss driven by a $706 million non‑cash goodwill impairment. Adjusted EBITDA remained positive at $113 million but…
10-Q · May 1, 2025
Ashland reported quarter sales of $479 million (down $96 million vs. prior-year quarter of $575 million) with diluted net income per share of $0.65. Gross margin expanded to 30.7% from 28.0% and operating income…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.