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# Ashland Guides To $405 Million-$435 Million Adjusted EBITDA For Fiscal 2027 After A Fourth-Quarter Loss
- URL: https://www.bullished.co/ashland-guides-to-405-million-435-million-adjusted-ebitda-for-fiscal-2027-after-a-fourth-1dccdf72/
- Published: 2026-11-03T22:32:40.000Z
- Updated: 2026-11-03T22:32:40.000Z
- Description: Sales rose 4% to $498 million, but a Hopewell plant problem cut Specialty Additives earnings 31%.
- Author: Matteo Parrino
- Tags: Earnings, ASH, Industry: Industrials

Ashland, which makes additives and specialty ingredients for pharmaceuticals, personal care products and coatings, forecast fiscal 2027 adjusted EBITDA of [$405 million to $435 million](https://www.sec.gov/Archives/edgar/data/0001674862/000119312526445650/ash-ex99%5F1.htm?ref=bullished.co), against $385 million in fiscal 2026\. The outlook came with a fourth-quarter net loss of $16 million, reported Tuesday, even as quarterly sales climbed 4%.

## A loss beside growing sales

Fourth-quarter sales were $498 million, up from $478 million a year earlier, according to the [earnings release](https://www.sec.gov/Archives/edgar/data/0001674862/000119312526445650/ash-ex99%5F1.htm?ref=bullished.co). Volumes rose 3% and pricing 2%.

The loss from continuing operations was $17 million, or $0.36 per diluted share, against income of $33 million, or $0.73 a share, a year earlier. The quarter carried $18 million of asset impairments, a $13 million Argentina liquidation translation adjustment and $9 million of restructuring costs, all treated as one-off items.

Adjusted EBITDA, which strips out those items, rose 2% to $121 million from $119 million. Margin slipped to 24.3% from 24.9%.

## Hopewell drags Specialty Additives

Specialty Additives adjusted EBITDA fell 31% to $20 million from $29 million, which the company tied to lower productivity at its Hopewell plant and the unfavorable absorption of fixed costs that followed. Segment sales were flat at $131 million, with coatings up 9% and performance specialties up 14%.

Elsewhere, Life Sciences adjusted EBITDA rose 16% to $64 million, with a margin of 35.6%, which the company called the segment's highest quarterly margin. Personal Care adjusted EBITDA rose 14% to $49 million, and Intermediates rose 20% to $6 million.

CEO Guillermo Novo said the company has "completed the critical investments needed to support improved productivity at our plants."

## The fiscal 2027 targets

Ashland guided to fiscal 2027 sales of $1,905 million to $1,975 million, roughly 2% to 6% growth, and free cash flow conversion above 40% of adjusted EBITDA. It estimates currency headwinds of about $20 million to $25 million on sales and $7 million to $10 million on adjusted EBITDA.

For the full year, sales were $1.863 billion and adjusted EBITDA was $385 million, down from $401 million. Ongoing free cash flow reached $232 million, versus $127 million in fiscal 2025, helped by lower inventory and capital spending. Net income was $4 million, against an $845 million loss that included a $706 million non-cash goodwill impairment.

The company ended the year with about $480 million of cash and net debt of $891 million, a net leverage of 2.3 times.

Ashland holds its analyst webcast at 9 a.m. ET on Wednesday, with a slide presentation posted on its investor site.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — ASHLAND INC. (ASH)](https://www.sec.gov/Archives/edgar/data/0001674862/000119312526445650/ash-20261103.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit ash-ex99\_1.htm — ASHLAND INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001674862/000119312526445650/ash-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR