Filing Flows › Ashland (ASH) › Q1 FY26
Ashland (ASH) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 3, 2026
Ashland (ASH) reported revenue of $386M for the first quarter fiscal 2026 (Q1 FY26), -5% from a year earlier and -19% from the quarter before. Operating margin was -1.6%, net loss $12.0M (3.1% of revenue).
Ashland, Q1 FY26: revenue $386M (-5% year over year), operating margin -1.6%, net loss $12.0M, operating cash flow $125M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $386M | -19% | -5% |
| Operating profit | −$6.0M | -110% | — |
| Net earnings | −$12.0M | -138% | — |
| Operating cash flow | $125M | +212% | — |
| Free cash flow | $111M | 18× | — |
What changed
Revenue was $386.0M in Q1 FY26, down 5% year over year and down 19% from the previous quarter.
Gross margin was 27.2%, down 0.2 points from a year earlier. Operating costs exceeded revenue by $6.0M, an operating margin of -1.6%. Operating expenses fell 62% while revenue fell 5%. The fastest-growing cost line was SG&A (+10%). The quarter ended with a net loss of $12.0M, after a profit of $32.0M the previous quarter. Net interest and other expense of $7.0M was the main reason.
Operating cash flow was $125.0M. Non-cash charges added back $48.0M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items added $85.0M. Capital expenditures of $14.0M left free cash flow of $111.0M.
Questions
What was Ashland's revenue in the first quarter fiscal 2026?
Ashland (ASH) reported revenue of $386M for the first quarter fiscal 2026 (Q1 FY26), -5% from a year earlier and -19% from the quarter before.
Was Ashland profitable in the first quarter fiscal 2026?
Operating loss was $6.0M (-1.6% of revenue) and net loss $12.0M.
Source: Ashland 10-Q on SEC EDGAR.