Ashland Cuts FY23 Sales Guidance From $2.3B-$2.4B To Range Of $2.2B; Consensus $2.38B
Portfolio Pulse from Benzinga Newsdesk
Ashland has reduced its FY23 sales guidance from $2.3B-$2.4B to a range of $2.2B due to continued customer de-stocking, significant macroeconomic uncertainty, and limited visibility into global consumer demand.
June 28, 2023 | 9:11 pm
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NEGATIVE IMPACT
Ashland's lowered sales guidance for FY23 could negatively impact its stock price in the short term.
Ashland's lowered sales guidance indicates potential challenges in its business operations, which could lead to a decrease in investor confidence and a potential drop in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100