Ashland Inc. has approved a new $1-billion share repurchase program, doubling its previous $500 million authorization, as the specialty chemicals maker leans on cost savings and portfolio optimization to strengthen margins and free cash flow. In the third quarter of fiscal 2026, operating activities generated $121 million in cash, while ongoing free cash flow totaled $103 million, and the company had bought back about $480 million by the end of that quarter under the new program. Ashland's shift to a business-unit-focused operating model supports its strategy of building a higher-margin specialty chemicals portfolio, though the pace of savings has been affected by a slower productivity ramp at the Hopewell facility. The company expects tariffs on U.S. sales to China to create a roughly $70 million headwind, and it continues to face weak demand in its Specialty Additives business across construction, coatings and energy end markets, along with global logistics pressures. Ashland's recent earnings resilience has been driven largely by its higher-margin Life Sciences and Personal Care segments, a concentration that increases the risk that weaker consumer spending, customer destocking or regulatory challenges could disproportionately affect revenue and profitability. Ashland shares carry a Zacks Rank #3 (Hold).
Ashland Global Holdings IncAshland approved a new $1-billion buyback, doubling its prior $500 million authorization.
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