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Ashland Cuts FY21 Adj. EBITDA View - Quick Facts

Ashland Global Holdings Inc. (ASH), a specialty materials company, Monday warned on its fiscal 2021 adjusted EBITDA view citing the ongoing challenges to meet strong overall customer demand.

For the year, the company now anticipates adjusted EBITDA to be up to $10 million below the low-end of the previously communicated range of $570 million to $590 million.

The company noted that economic recovery in the U.S. and other regions of the world is driving strong demand for most products in the company's Life Sciences, Personal Care and Household, Specialty Additives and Performance Adhesives end markets.

However, the fourth-quarter results will be hurt by continued challenges in shipping, logistics and packaging procurement that are inhibiting the company's ability to meet strong overall customer demand.

Accounting for on-time freight and logistics unreliability over the past few months will also impact the results.

Guillermo Novo, chairman and chief executive officer, Ashland, said, "As we reported early last quarter, supply-chain and logistics constraints and related costs continue to be an issue. … While we are adjusting our outlook for earnings in the fiscal year due to these external factors, I continue to be pleased by the resilience of Ashland's businesses and our prospects for fiscal year 2022 and beyond."

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