Ashland provides update on fiscal 2023 fourth-quarter and full-year earnings1 and announces upcoming portfolio-optimization actions; sets date for fiscal 2023 fourth-quarter earnings release
Earnings for the quarter were most directly impacted by additional inventory-reduction actions taken to better position the company for more conservative demand scenarios.
- Earnings for the quarter were most directly impacted by additional inventory-reduction actions taken to better position the company for more conservative demand scenarios.
- Volumes during the quarter continued to be negatively impacted by customer inventory destocking across most end markets.
- “Customer demand was generally consistent with our expectations in the fourth quarter,” said Guillermo Novo, chair and chief executive officer, Ashland.
- “We are pleased with the progress our Nutraceuticals team has made to strengthen and grow the business,” said Novo.