Ashland Inc.'s stock (ASH) plummeted 5.02% in intraday trading on Wednesday, underperforming the broader market. The specialty chemicals company's shares fell following the release of its fiscal Q1 2025 earnings report and analysts downgrading the stock.
Ashland reported adjusted earnings per share of $0.28 for the quarter ended December 31, 2024, beating analysts' expectations of $0.18. However, the company's revenue fell 14.4% year-over-year to $405 million, missing estimates of $428.92 million. Analysts expressed concerns over the company's declining revenue, leading to multiple analysts downgrading their ratings and lowering earnings estimates for Ashland.
The mean earnings estimate for Ashland has fallen by about 78% in the last three months, with three analysts negatively revising their earnings estimates in the last 30 days. This negative sentiment from analysts likely contributed to the steep sell-off in Ashland's stock on Wednesday.
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