Why Ashland Stock Fell Today

Group 1 - Ashland reported earnings of $1.27 per share on revenue of$ 575 million for its fiscal second quarter, exceeding Wall Street's earnings estimate of $1.14 per share [2] - Revenue decreased by 5% year over year, with positive trends in personal care and specialty additives, while life sciences ingredient volumes were lighter [2] - The company narrowed its full-year revenue guidance to a range of$ 2.15 billion to $2.23 billion, down from$ 2.15 billion to $2.25 billion [2] Group 2 - Ashland forecasts flat to slightly increased demand in 2024, indicating signs of normalization after pandemic-related disruptions [3] - The company is focusing on higher-end products and has announced the closure of a production unit in Belgium, which will lead to volume declines but is aimed at reducing exposure to lower-margin markets [3] - Ashland's stock is trading at levels similar to three years ago, with potential for growth if end markets normalize as anticipated [3]