Ashland Global Holdings’ Shares Up 7% Following Q2 Earnings Preannouncement
<p><a href='https://financialmodelingprep.com/financial-summary/ASH'>Ashland Global Holdings Inc. (NYSE:ASH) </a>shares closed more than 7% higher today following the company’s preannounced Q2 results, expecting EBITDA to be $163 million, up 41% year-over-year, and 22% above the consensus estimate.</p>
<p>Strong demand and pricing more than offset higher costs for raw materials, freight and energy. Supply chain and labor challenges continued to affect shipments and on-time order delivery during Q2.</p>
<p>Prior to this quarter, the company had missed 3 consecutive quarters due to similar supply chain and labor shortage challenges and higher costs. </p>
<p>Also noteworthy was that EBITDA margins expanded for the first time since Q2/21 (up 460 bps year-over-year) driven by higher sales and pricing ahead of cost inflation.</p>
NYSE:ASH