Ashland Global Holdings Inc. recently announced preliminary financial results for the first quarter of its 2021 fiscal year, which ended December 31, 2020. The global specialty materials company serves customers in a wide range of consumer and industrial markets. Sales were approximately $552 million, up 4% compared to the prior-year period, as growth was realized in all three of Ashland's business groups.

According to the company, its financial results during the quarter reflected execution of its strategy, solid overall demand, and the benefit of continued cost reduction. The result was improved sales and earnings, margin growth, and strong free cash flow generation.