Business
Ashland Inc. (ASH) Analyst/Investor Day Transcript
Sandy Klugman
Hello, everyone, and welcome to Ashland Innovation Day 2026. My name is Sandy Klugman, and I’m Ashland’s Director of Investor Relations. Today, you will hear from leaders across Ashland, including business executives and technology experts, who will discuss how our innovation pipeline is creating differentiated commercial opportunities that drive long-term growth and value creation.
Please note that we will be referencing slides during today’s webinar, and we encourage you to follow along with the webcast material available at ashland.com, under Investor Relations. As a reminder, I wanted to caution listeners that during this call, the company’s management will be making forward-looking statements.
Actual results could differ materially from those stated or implied by our forward-looking statements due to risks and uncertainties associated with the company’s business. These forward-looking statements are qualified in their entirety by the cautionary statements contained in today’s investor presentation and Ashland’s SEC filings, including the quarterly report on Form 10-Q. Please review the safe harbor statements and the disclosure regarding our use of non-GAAP financial measures included in those materials.
And with that, I’ll turn it over to Guillermo Novo, Ashland Chair and CEO.
Guillermo Novo
Chairman & CEO
Welcome, everyone. It’s a pleasure to be here today. Welcome to our Third Innovation Day update. It’s a pleasure to host you today. As you’ve heard in prior events, Ashland has made innovation a strategic priority to drive differentiation and
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BOSTON – With approximately $6 billion in annual sales, Dr Pepper is the largest brand in Keurig Dr Pepper Inc.’s (KDP) portfolio. Two years ago, the brand became the second largest carbonated soft drink brand in the United States, according to Beverage Digest, and KDP management is charting a course to maintain that position and apply the strategies that propelled Dr Pepper to other brands within its portfolio.
“(Dr Pepper is) the No. 1 brand … among teens today,” said Timothy Cofer, chief executive officer of KDP, during a Sept. 10 presentation at the Barclays Global Consumer Staples Conference. “That’s a good indicator of future health vitality of the brand. And we’re a brand that very much invests in continuous recruitment … to really fortify that share. In fact, year-to-date, we’re on track for share growth, and when we achieve it, it will be our tenth consecutive year of market share growth on brand Dr Pepper.”
Innovations that have helped drive brand growth include Dr Pepper Zero Sugar, Dr Pepper Creamy Coconut and Dr Pepper Blackberry.
“Dr Pepper is now the second largest zero sugar brand in the marketplace and over $1 billion in retail sales,” Cofer said. He added that in the company’s most recent quarter, the variety had a 30% growth rate.
From a marketing perspective, KDP is attempting to position Dr Pepper as a unique, one-of-a-kind brand.
“I think … a lot of our consumer cohorts … identify with that because they’re unique and one of a kind,” Cofer said. “So, a distinctive positioning, really strong marketing and marketing that we’re investing (in) to get even better, more precise and more personalized, but it’s a hell of a platform.”
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| Photo: Cully WrightKDP is now applying the playbook that helped Dr Pepper gain share to other brands in its Refreshment Beverages portfolio like Canada Dry and 7Up.
“Canada Dry (is a) billion-dollar-plus brand; far and away leader in ginger ale,” Cofer said. “(It has a) distinctive positioning; all about the demand space of a relax and rejuvenate time …”
Innovation from the brand includes Canada Dry Fruit Splash, which is the combination of the flavors ginger, cherry and strawberry.
“(We’re) finding that platform to be highly incremental to the base business, driving overall trademark sales, great sales execution,” Cofer said.
With the 7Up brand, KDP has reformulated the product and is emphasizing the lime flavor in marketing.
“So, we’ve got an all-new formula, lime over lemon,” Cofer said. “We’ve got a new visual ID. We’ve got a really clever marketing campaign. I think that’s part of the success formula you’re going to start to see employed across these brands.”
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The failure led to more than 2,000 flights being cancelled and hundreds of thousands of passengers affected, with some sleeping on airport floors or getting stuck overseas.
Flights in and out of the UK’s main airports were affected, including Heathrow, Gatwick, Luton and Glasgow.
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