Ashland (NYSE: ASH) reported Q2 EPS of $1.05, $0.24 worse than the analyst estimate of $1.29. Revenue for the quarter came in at $598 million versus the consensus estimate of $635.66 million.

“Absent the weather-related impacts, all of Ashland’s business units performed as expected during the quarter,” said Guillermo Novo, chairman and chief executive officer, Ashland. “The industrial businesses continued to gain further momentum as demand in those end markets accelerated. The Life Sciences segment saw continued strength in demand in the pharma and nutraceutical end markets, while the Personal Care and Household segment continued to experience the same consumer-driven impacts that have persisted during the global pandemic.”

“I am pleased with the progress our team has made executing our strategy, especially in the context of a difficult operating environment,” continued Novo. “The persistence of the global pandemic-impacted consumer behavior and the winter storms in the U.S. Gulf Coast are realities we faced during the quarter. For the full fiscal year, we expect to recover a portion of the lost cost absorption as the impacted plants work to make up for some of the lost production during the quarter. Overall, our expectations for Ashland’s full year results have not changed. I look forward to sharing additional thoughts on our plans and the progress we have made during our earnings call tomorrow morning.”

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