Ashland (NYSE: ASH) reported Q1 EPS of $0.88, $0.01 better than the analyst estimate of $0.87. Revenue for the quarter came in at $512 million versus the consensus estimate of $515.76 million.

GUIDANCE:

Ashland sees FY2022 revenue of $2.25-2.35 billion, versus the consensus of $2.29 billion.

• For fiscal year 2022, the company continues to expect sales in the range of $2.25 billion to $2.35 billion and adjusted EBITDA in the range of $550 million to $570 million. Our most recent forecast projects full year Adjusted EBITDA below the midpoint of the range.
• “We expect underlying demand to remain strong and for our pricing actions to cover currently-forecasted inflation,” continued Novo. “We also expect current shipping challenges to persist over the coming quarters. We are ready to take further action to recover any additional cost inflation and will continue to proactively build inventories in key regions to mitigate the supply-chain and shipping challenges. Given the demonstrated resilience of our portfolio against a backdrop of unprecedented market and industry conditions, we do not expect significant changes to our demand. The major potential headwinds to our outlook are driven by external risks that are outside of our control and which could result in increased costs and additional supply-chain constraints. As we did in the early phase of the COVID-19 pandemic, we will stay focused on the things we can control. We will plan for and build further resilience to react quickly to events that we do not control and cannot forecast. I look forward to discussing our results and outlook in more detail on the earning call and webcast tomorrow morning.”

For earnings history and earnings-related data on Ashland (ASH) click here.