Ashland expects sales to fall 9%

摘要

Ashland has announced preliminary frst-quarter results with revenues expected to fall 9% year on year (YOY) to $610 million, mainly because of the loss of some oral care business from the prior-year quarter and the Pharmachem business. The company expects to report a frst-quarter net loss from continuing operations of $580 million due to a goodwill impairment charge. Excluding this, frst-quarter adjusted net income is expected to total $52 million, or 84 cents/share, roughly fat YOY. The company is not seeing a major hit to demand from the coronavirus disease 2019 (COVID-19) pandemic.