Ashland Expects Q3 Sales Of $545M-$550M (Consensus $625.61M), Down 15% Y/Y
Portfolio Pulse from Benzinga Newsdesk
Ashland Global Holdings Inc. (ASH) expects Q3 sales to be between $545M-$550M, down 15% year-over-year, which is below the consensus estimate of $625.61M. The company attributes the decline to lower volumes from rapid customer de-stocking, partially offset by favorable pricing.
June 28, 2023 | 9:04 pm
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Ashland's lower than expected Q3 sales forecast could negatively impact its stock price in the short term.
Ashland's Q3 sales forecast is significantly below the consensus estimate, which could lead to a negative market reaction and a potential decrease in the company's stock price. The company's report of lower volumes due to rapid customer de-stocking is a concerning factor for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100