Earnings update: Symrise sees Fragrance growth, Ashland’s Personal Care remains “resilient”

Symrise and Ashland have reported financial results for Q1 2026 and Q2 fiscal 2026, respectively, showing similarities in their performance segments and strategic actions for the months ahead. The results cover the same calendar period, January to March 2026.

Symrise experienced a strong performance in segments like Fragrance, but challenges in Europe, Africa, and South West Asia and North Africa (SWANA). 

Ashland, while achieving a modest 1% year-over-year (YoY) sales growth in fiscal Q2, faced operational challenges, including issues at its Hopewell, US, manufacturing facility, which impacted profitability. However, its Personal Care business segment showed resilient growth.

Both companies faced challenges in specific segments or operations but remain confident in their ability to navigate the difficulties through strategic initiatives — including cost savings, operational improvements, and innovation.

Symrise’s transformation

For Q1 2026, Symrise reported an organic sales decline of 0.4%, with sales of approximately €1.249 million (US$1.461 million) compared to €1.317 million (US$1.54 million) in the year prior. 

Symrise says its performance reflects progress in the acceleration of the One Sym Transformation and the company’s ability to navigate a dynamic operating environment while maintaining focus on its strategic priorities. This is expected to unlock organic growth opportunities.

Jean Yves Parisot, CEO at Symrise, says: “We’re accelerating our One Sym Transformation with a clear purpose to enhance competitiveness and fund reinvestment in our top-line growth, unlocking the next phase of Symrise’s evolution.”

The Scent & Care Segment had an organic sales decline of 3.4%. Reported sales were €500 million (US$584.9 million) compared with €538 million (US$629.4 million) in the prior-year period.

Symrise experienced a robust performance in its Fragrance segment.The Fragrance Division continued to show positive momentum with low single-digit organic growth against strong prior-year comparables. The rise was led by mid-single-digit growth in Consumer Fragrance and low single-digit growth in Fine Fragrance.

The Care & Wellness Division reported a low-double-digit organic sales decline, largely due to a double‑digit decline in UV filters against strong prior-year comparables.

Regionally, Symrise achieved positive organic sales growth in the Asia-Pacific region and in North and Latin America, supported by stable demand and strong project momentum. In Europe, Africa, and SWANA, organic sales declined against a strong prior-year comparison, in line with expectations.

The company says it is shifting from building the foundation to activating growth. “The impact of our transformation is becoming increasingly visible across the business,” Parisot notes.

Parisot says that 2026 marks a pivotal year for the company, where execution drives its increasing differentiation and strengthens its position for the future. “With our One Symrise strategy and a talented team of Symrisers, we are confident in our ability to realize the full potential of Symrise and deliver durable, profitable growth.”

Symrise reaffirmed its full-year outlook for 2026, expressing “confidence in its ability to execute its strategy and drive profitable growth.”

Ashland boosted by Personal Care

Ashland’s Personal Care sales in the second quarter were US$150 million, a 3% increase compared to the US$146 million in the prior-year quarter. 

Performance was driven by double-digit growth across the global platform, led by momentum in biofunctional actives, continued traction in microbial protection, and execution across key care ingredients categories. 

Pricing declined moderately in select end markets to support share gains, while favorable foreign currency movements contributed approximately US$5 million to segment sales.

Sales performance reflected broad‑based growth across the Personal Care portfolio, supported by volume increases and solid execution across all three business lines and regions. 

Care Ingredients increased YoY, driven by high‑single‑digit growth in skin care, mid‑single‑digit growth in hair care, and low‑single‑digit growth in oral and home care. 

Biofunctional Actives delivered robust YoY growth, supported by strong customer demand and new product adoptions. Microbial Protection achieved solid growth, driven by double-digit volume increases across most regions and continued share gains. 

“Ashland’s Q2 results reflect commercial execution across much of the portfolio as we navigated a challenging operating environment with generally resilient demand,” says Guillermo Novo, chair and CEO.Ashland is updating its full-year fiscal 2026 sales guidance.

“Sales increased modestly year-over-year, driven by strength in Personal Care, which generated broad-based growth, led by double-digit gains in biofunctional actives and solid execution across skin care, hair care, and microbial protection.”

Second quarter sales were US$482 million, up 1% from US$479 million in the prior-year quarter. 

Updated financial outlook

Ashland is updating its full-year fiscal 2026 sales guidance to a range of US$1.835–1.87 million and its adjusted EBITDA guidance to a range of US$385 to US$400 million. 

Despite a volatile macroeconomic backdrop, Ashland’s core Personal Care market continues to show resilience, underpinned by stable fundamentals and sustained momentum in innovation‑led and globalized product offerings. 

The company reports that Q2 sales trends were encouraging, reflecting solid momentum across several consumer‑focused markets, with early Q3 activity showing a continuation of this commercial strength. 

Ashland expects the year to follow a typical seasonal cadence, with stronger performance anticipated in the second half as commercial activity builds and operational stability improves.