Ashland Inc. Reports Net Income of $91 Million for Q1 2023

Ashland Inc.(ASH), a leading global chemical company, has released its financial statements for the first quarter of 2023, reporting a net income of $91 million. The company's revenue remained stable at $603 million for the quarter, compared to $604 million in the same period last year. Let's delve into the details of Ashland's financial performance for the three and six months ended March 31, 2023, and compare it to the corresponding periods in 2022.

Net Income/Loss

During the first quarter of 2023, Ashland Inc. achieved a net income of $91 million. This represents a significant increase compared to the same quarter last year when the company reported a net income of $786 million. However, it's essential to note that the substantial difference in net income is mainly due to the inclusion of a significant gain from discontinued operations in 2022, amounting to $748 million, which was not present in the current year.

Revenue