Q3 2024 Ashland Inc Earnings Call Transcript
Key Points
- Ashland Inc (ASH) delivered strong personal care sales growth across markets.
- Specialty Additives volumes improved by 5%, with a notable 22% growth in Personal Care.
- Adjusted EBITDA margin increased sequentially by 370 basis points to 25.6%.
- Ashland Inc (ASH) repurchased $130 million of shares and increased the dividend.
- The company has a strong financial position with $399 million in cash and total available liquidity of roughly $1 billion.
- Lower US Life Science volumes, particularly in Europe, impacted overall performance.
- Specialty Additives volume momentum was softer than expected, with increased price pressure.
- June sales were weaker than expected, and this trend continued into July.
- Life Science segment faced significant headwinds, with an 11% decline in sales and an 18% decrease in adjusted EBITDA.
- Merchant business continues to see weak demand in EV battery and crop care markets, with a 16% decline in sales.
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And everybody is really focused on the innovation platforms and the sustainable attributes that we have in the innovation is in two parts. one is continuing to innovate within our existing products in our core technologies, and then also the launch of our new technology platforms and online. It's nicely with the environmental social governance objectives. So all of these objectives are coming together. It's all about finding that right balance there.
And when you when you lay out the objectives of what you're trying to achieve, design that into the process, redesign that into the product with a platform, you now have essentially a back book where you can tune in modify that platform. So you can take something that has a certain structure to it. And it has a certain different chemical features to be in Azure test with customers. You can tune that from that product, that platform in terms of increasing a certain feature decreasing a feature because they are sustainable and they are scalable and we can make all these different
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