RTTNews | Jun 10, 2021 06:59AM EDT

06:59 Thursday, June 10, 2021 (RTTNews.com) - Ashland Global Holdings Inc. (ASH), a premier specialty materials company, Thursday said it continues to expect to report fiscal; 2021 adjusted EBITDA of $570 million to $590 million.

The company said it expects approximately $5 million to $10 million of adjusted EBITDA pressure in the fiscal third quarter as supply-chain constraints continue to be a challenge. However, these factors would stabilize in the fourth quarter.

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

Meanwhile, availability of some raw materials in addition to shipping, logistics and packaging challenges are offsetting the demand. In addition, supply-chain inefficiencies are resulting in higher overall cost.

Guillermo Novo, chairman and chief executive officer, Ashland, said, "We are encouraged by the improving demand in each of our segments."

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