Ashland | 10-K: FY2025 Revenue Misses Estimate at USD 1.824 B

Revenue: As of FY2025, the actual value is USD 1.824 B, missing the estimate of USD 1.826 B.

EPS: As of FY2025, the actual value is USD -18.23, missing the estimate of USD -18.15.

EBIT: As of FY2025, the actual value is USD -719 M.

Life Sciences

• Sales: $641 million in 2025, a decrease from $810 million in 2024.
• Operating Income (Loss): - $262 million in 2025, compared to $168 million in 2024, primarily due to a $375 million goodwill impairment charge and higher costs for portfolio optimization activities.
• Adjusted EBITDA: $193 million in 2025, down from $230 million in 2024, due to divestiture of the Nutraceuticals business, lower volume, and unfavorable pricing.

Personal Care

• Sales: $577 million in 2025, down from $634 million in 2024.
• Operating Income: $90 million in 2025, up from $73 million in 2024, due to lower costs and favorable foreign exchange currency.
• Adjusted EBITDA: $158 million in 2025, a slight decrease from $164 million in 2024, primarily due to lower volume and unfavorable price/mix.

Specialty Additives

• Sales: $511 million in 2025, a decrease from $572 million in 2024.
• Operating Income (Loss): - $338 million in 2025, compared to - $32 million in 2024, impacted by a $331 million goodwill impairment charge.
• Adjusted EBITDA: $94 million in 2025, down from $99 million in 2024, due to lower volume and unfavorable price/mix.

Intermediates

• Sales: $137 million in 2025, down from $144 million in 2024.
• Operating Income: $8 million in 2025, compared to $29 million in 2024, primarily due to unfavorable price/mix.
• EBITDA: $21 million in 2025, down from $42 million in 2024.

Unallocated and Other

• Operating Income (Loss): - $273 million in 2025, compared to - $264 million in 2024, including a $183 million impairment of the Avoca business and a $3 million tax credit.

Outlook / Guidance

• Ashland anticipates continued challenges due to macroeconomic conditions and geopolitical tensions, which may impact demand and pricing. The company is focused on optimizing its portfolio and cost structure to improve margins and returns.