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    HomeLifeStyleUS’ Ashland reports sales of $603 million in Q2 FY23

    US’ Ashland reports sales of $603 million in Q2 FY23


    US-based Ashland, a leading global additives and specialty ingredients company, has reported sales of $603 million for the second quarter (Q2) of fiscal 2023 (FY23). The sales were consistent with the prior-year quarter. The net income for the quarter was $91 million, which was down from $786 million in the prior-year quarter. Income from continuing operations was $92 million, up from $38 million in the prior-year quarter.

    The adjusted income from continuing operations in Q2 FY23 was $78 million, down from $86 million in the prior-year quarter. Adjusted EBITDA was $145 million, which is down 11 per cent from $163 million in the prior-year quarter, the company said in a press release.

    Ashland reported Q2 FY23 sales of $603 million, consistent with the prior-year quarter.
    Net income was $91 million, down from $786 million in Q2 FY22.
    The personal care segment sales were down three per cent, and the specialty additives segment sales were down 12 per cent from Q2 FY22.
    Adjusted EBITDA was $145 million, down 11 per cent from Q2 FY22.

    Sales for the personal care segment were $167 million, down three per cent from the prior-year quarter. Adjusted operating income was $14 million, down from $28 million in Q2 FY22, and adjusted EBITDA was $35 million, down from $49 million in Q2 FY22.

    Sales for specialty additives segment were $161 million, down 12 per cent from Q2 FY22. Adjusted operating income was $15 million, compared to $26 million in the prior-year quarter, and adjusted EBITDA was $34 million, compared to $48 million in Q2 FY22.

    “Ashland’s financial results in the March quarter were consistent with our original expectations,” 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, we continue to operate in a challenging global environment with ongoing macroeconomic uncertainty and diminished demand visibility. The re-opening of China is progressing though at a slower pace than expected. And while the customer de-stocking dynamics we saw during the December quarter have slowed, they are still present in certain end markets and continued through the March quarter into April.”

    Fibre2Fashion News Desk (DP)






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