However, continued challenges in shipping, logistics and packaging procurement are inhibiting the company's ability to meet strong overall customer demand. The impact of all these factors is expected to be reflected in the company's financial results during the fiscal-fourth quarter. 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
'We are encouraged by the improving demand in each of our segments,' said
During the fiscal-fourth quarter, Ashland announced the signing of a definitive agreement to sell its Performance Adhesives business to
The information in this release is preliminary, based upon information available at the time of this news release, and actual results may differ.
Use of Non-GAAP Measures
Ashland believes that by removing the impact of depreciation and amortization and excluding certain non-cash charges, amounts spent on interest and taxes and certain other charges that are highly variable from year to year, adjusted EBITDA provides Ashland's investors with performance measures that reflect the impact to operations from trends in changes in sales, margin and operating expenses, providing a perspective not immediately apparent from net income. The adjustments Ashland makes to derive the non-GAAP measure of adjusted EBITDA exclude items which may cause short-term fluctuations in net income and which Ashland does not consider to be the fundamental attributes or primary drivers of its business. Adjusted EBITDA provides disclosure on the same basis as that used by Ashland's management to evaluate financial performance on a consolidated and reportable segment basis and provide consistency in our financial reporting, facilitate internal and external comparisons of Ashland's historical operating performance and its business units and provide continuity to investors for comparability purposes.
About Ashland
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Ashland has identified some of these forward-looking statements with words such as 'anticipates,' 'believes,' 'expects,' 'estimates,' 'is likely,' 'predicts,' 'projects,' 'forecasts,' 'objectives,' 'may,' 'will,' 'should,' 'plans' and 'intends' and the negative of these words or other comparable terminology. Ashland may from time to time make forward-looking statements in its annual reports, quarterly reports and other filings with the
Ashland's expectations and assumptions include, without limitation, internal forecasts and analyses of current and future market conditions and trends, management plans and strategies, operating efficiencies and economic conditions (such as prices, supply and demand, cost of raw materials, and the ability to recover raw-material cost increases through price increases), and risks and uncertainties associated with the following: the impact of acquisitions and/or divestitures Ashland has made or may make (including the possibility that Ashland may not realize the anticipated benefits from such transactions); Ashland's substantial indebtedness (including the possibility that such indebtedness and related restrictive covenants may adversely affect Ashland's future cash flows, results of operations, financial condition and its ability to repay debt); severe weather, natural disasters, public health crises (including the current COVID-19 pandemic), cyber events and legal proceedings and claims (including product recalls, environmental and asbestos matters); the effects of the COVID-19 pandemic on the geographies in which we operate, the end markets we serve and on our supply chain and customers, and without limitation, risks and uncertainties affecting Ashland that are described in Ashland's most recent Form 10-K (including Item 1A Risk Factors) filed with the
1Financial results are preliminary until Ashland's FY 2021 Form 10-K is filed with the
Trademark, Ashland or its subsidiaries, registered in various countries.
Contact:
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T: +1 (302) 594-5010
E: samrozek@ashland.com
Media
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