Ashland reports Q3 adjusted EPS $1.23, consensus $1.27

Reports Q3 revenue $546M, consensus $546.47M. “Ashland’s financial results in this quarter were consistent with the earnings update we issued on June 28,” said Guillermo Novo, chair and chief executive officer, Ashland. “Our inflation-recovery actions taken last year and early this year continue to benefit overall results. However, the reset impact from customer destocking actions across supply chains continues to impact many of the markets we serve. As previously stated, our expectations that destocking would conclude during the fiscal-third quarter proved to be optimistic. There is still uncertainty as to when these dynamics will end. Until the inventory-control actions taken by our customers have subsided, it will remain difficult for us to gauge current near-term end-market demand.”