Ashland Inc. reported fourth-quarter fiscal 2024 sales of $522 million, a 1% increase year-over-year, despite portfolio optimization initiatives reducing sales by approximately $24 million. Adjusted EBITDA for the quarter significantly increased by 68% to $124 million, driven by sales and production volume recovery, improved product mix, and deflationary raw materials. Adjusted diluted earnings per share, excluding intangibles amortization expense, rose to $1.26 from $0.41 in the prior-year quarter.
For the full fiscal year 2024, sales were $2.1 billion, down 4% from the prior year, with Adjusted EBITDA of $459 million, in line with the prior year. The company repurchased 1.71 million shares during the fourth quarter, with $620 million remaining under its share repurchase authorization. Cash flows provided by operating activities totaled $80 million.
Ashland issued its full-year fiscal 2025 outlook, projecting sales in the range of $1.90 billion to $2.05 billion and Adjusted EBITDA between $430 million and $470 million. The company also announced a $30 million restructuring plan and a $60 million manufacturing optimization plan to strengthen its core businesses and competitive position.
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