Adhesives Sales Decline for Ashland in Third 2019 Fiscal Quarter while Coatings Sales Bump Up
Ashland’s sales declined 4% to $641 million, compared to the 2018 fiscal third quarter, including a two percentage-point (ppt) impact from unfavorable currency.
Ashland Global Holdings Inc. recently announced preliminary financial results for the third quarter of its 2019 fiscal year. Sales declined 4% to $641 million, compared to the 2018 fiscal third quarter, including a two percentage-point (ppt) impact from unfavorable currency.
“Ashland’s fiscal third quarter financial results are consistent with the updated outlook we provided on July 17, 2019,” said William A. Wulfsohn, chairman and CEO. “Solid gains in Pharma and Nutrition were offset by weakening demand in several of our key end markets as we progressed through the quarter. In this context, despite lower sales, we delivered Adjusted EBITDA consistent with the prior year due to strong pricing actions and significant SG&A reductions. The stability of our earnings in this difficult context speaks to the quality of our specialty businesses, the results of our portfolio transformation and the impact of taking actions in areas we can control.