Bulletin
Investor Alert

New York Markets Close in:

Market Pulse Archives

Sept. 27, 2021, 7:15 a.m. EDT

Ashland warns that shipping, logistics and packaging challenges are weighing on performance

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Ashland Global Holdings Inc. (ASH)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane

Specialty materials company Ashland Global Holdings Inc. /zigman2/quotes/200179497/composite ASH +0.35% said Monday that continued challenges in shipping, logistics and packaging are hampering its ability to meet strong customer demand. "Specifically, accounting for on-time freight and logistics unreliability over the past few months, Ashland now anticipates fiscal year Adjusted EBITDA could be up to $10 million below the low-end of the previously communicated range of $570 million to $590 million," the company warned in a statement. The company signed an agreement in its fiscal fourth quarter to sell its Performance Adhesives business to Arkema for $1.65 billion and plans to issue restated historical financial statements reflect that change before it releases fourth-quarter earnings. Shares were down 0.3% premarket but have gained 17% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.03% has gained 18.6%.

/zigman2/quotes/200179497/composite
US : U.S.: NYSE
$ 98.31
+0.35 +0.35%
Volume: 200.00
Oct. 22, 2021 9:34a
P/E Ratio
31.44
Dividend Yield
1.22%
Market Cap
$5.95 billion
Rev. per Employee
$516,889
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,551.26
+1.48 +0.03%
Volume: 98.26M
Oct. 22, 2021 9:35a
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.