Ashland (ASH) came out with quarterly earnings of $1.49 per share, beating the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $1.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.36%. A quarter ago, it was expected that this chemical company would post earnings of $1.19 per share when it actually produced earnings of $1.27, delivering a surprise of 6.72%.Over the last four quarters, the company ha ...

Financial Performance - Sales for Q3 fiscal 2024 were $544 million, a slight decrease from $546 million in the prior-year quarter[2]. - Net income was $6 million, down from $50 million in the prior-year quarter, with income from continuing operations at $31 million, down from $42 million[3]. - Adjusted EBITDA was $139 million, up 5% from $133 million in the prior-year quarter, driven by higher sales and production volumes[3]. - Cash flows from operating activities totaled $128 million, down from $137 million in the prior-year quarter, while ongoing free cash flow was $112 million, up from $97 million[4]. - Year-over-year sales volume growth for Q4 is expected to be mid-single-digit, partially offset by low-single-digit pricing declines[16]. - Ashland reported sales of $544 million for the three months ended June 30, 2024, a slight decrease of 0.4% compared to $546 million for the same period in 2023[35]. - Gross profit for the same period increased to $186 million, up 4.5% from $178 million year-over-year[35]. - Operating loss for the three months ended June 30, 2024, was $(61) million, compared to an operating income of $62 million in the prior year[35]. - Net income for the three months ended June 30, 2024, was $6 million, a significant decrease from $50 million in the same period last year[35]. - Diluted earnings per share from continuing operations decreased to $0.60, down from $0.79 in the prior year[35]. - Adjusted EBITDA for the three months ended June 30, 2024, was $139 million, a slight increase of 4.5% from $133 million in the same period last year[44]. - Free cash flows for the three months ended June 2024 were $99 million, compared to $93 million for the same period in 2023, representing a 6.5% increase[51]. - Adjusted EBITDA for the nine months ended June 2024 was $336 million, compared to $385 million for the same period in 2023, reflecting a decrease of approximately 12.7%[52]. Segment Performance - Life Sciences segment sales were $195 million, down 11% year-over-year, primarily due to weaker demand in vinyl pyrrolidone and derivatives[9]. - Personal Care segment sales increased by 20% to $175 million, driven by higher volumes in skin care and hair care[10]. - Specialty Additives segment sales were $150 million, down 1% from the prior-year quarter, impacted by lower pricing in Asia[11]. - Operating income for the Life Sciences segment was $43 million, down from $49 million in the same period last year[46]. - The Specialty Additives segment reported an operating income of $10 million, an increase from $5 million in the prior year[46]. Cash Flow and Assets - Total cash flows provided by operating activities from continuing operations were $128 million, down from $137 million in the prior year[41]. - Cash and cash equivalents at the end of the period were $399 million, compared to $349 million at the end of the same period last year[41]. - Total assets as of June 30, 2024, were $5,747 million, a decrease from $5,939 million as of September 30, 2023[38]. - Current assets decreased to $1,385 million from $1,506 million in the previous period[38]. - Long-term debt increased slightly to $1,325 million from $1,314 million[38]. Strategic Initiatives - Ashland announced the signing of a definitive agreement to sell its nutraceuticals business, expected to close in Q3 2024[15]. - The company anticipates future growth opportunities and is focused on portfolio optimization activities[29]. - The company expects Q4 sales in the range of $530 million to $540 million and adjusted EBITDA between $130 million and $140 million[17]. - The company expects continued focus on operational efficiency and strategic investments in key growth areas moving forward[44]. Impairments and Adjustments - The company incurred a loss of $99 million related to the impairment of nutraceutical assets[46]. - Key items before tax included a nutraceutical impairment of $99 million for the three months ended June 2024[52]. - Environmental reserve adjustments amounted to $35 million for the three months ended June 2024, compared to $19 million in the same period of 2023[52]. - Total key items after tax for the three months ended June 2024 were $135 million, compared to $8 million in the same period of 2023, indicating a significant increase[55]. - The company reported a nutraceutical impairment of $1.94 for the three months ended June 30, 2024[59]. - Environmental reserve adjustments amounted to $0.69 for the three months ended June 30, 2024, compared to $0.36 in 2023[59]. Earnings Per Share - Diluted EPS from continuing operations for the three months ended June 30, 2024, was $0.60, down from $0.79 in the same period of 2023[59]. - Adjusted diluted EPS from continuing operations (non-GAAP) for the three months ended June 30, 2024, was $1.18, compared to $0.87 in 2023, reflecting a 35.6% increase[59]. - Adjusted diluted EPS from continuing operations excluding amortization expense for the three months ended June 30, 2024, was $1.49, up from $1.23 in 2023[59].

Sales of $544 millionNet income (including discontinued operations) of $6 million, or $0.12 per diluted shareIncome from continuing operations of $31 million, or $0.60 per diluted shareAdjusted income from continuing operations excluding intangibles amortization expense of $75 million, or $1.49 per diluted shareAdjusted EBITDA of $139 million, up five percent from the prior-year quarterCash flows provided by operating activities of $128 million; ongoing free cash flow2 of $112 millionRepurchased 1.3 million ...

Sales of $544 millionNet income (including discontinued operations) of $6 million, or $0.12 per diluted shareIncome from continuing operations of $31 million, or $0.60 per diluted shareAdjusted income from continuing operations excluding intangibles amortization expense of $75 million, or $1.49 per diluted shareAdjusted EBITDA of $139 million, up five percent from the prior-year quarterCash flows provided by operating activities of $128 million; ongoing free cash flow2 of $112 millionRepurchased 1.3 million ...

Investors might want to bet on Ashland (ASH) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of a cha ...

Core Insights - Ashland (ASH) and Novozymes A/S (NVZMY) are both considered for investment in the Chemical - Specialty sector, with a focus on identifying which stock offers better value opportunities [1] Valuation Metrics - ASH has a forward P/E ratio of 21.12, while NVZMY has a higher forward P/E of 33.83 [2] - ASH's PEG ratio is 0.93, indicating a more favorable valuation compared to NVZMY's PEG ratio of 3.47 [2] - ASH's P/B ratio stands at 1.54, significantly lower than NVZMY's P/B ratio of 13.80 [2] Value Grades - ASH has received a Value grade of B, whereas NVZMY has been assigned a Value grade of F, indicating ASH is currently viewed as the superior value option [3]

Investors looking for stocks in the Chemical - Specialty sector might want to consider either Ashland (ASH) or Novozymes A/S (NVZMY) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes compa ...

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Aris Mining Corporation (ARMN) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.Aris Mining Corporation is one of 238 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to ...

WILMINGTON, Del., July 17, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today announced plans to issue its third-quarter earnings release at approximately 5 p.m. ET on Tuesday, August 6, 2024. The company's live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 10 a.m. ET on Wednesday, August 7. Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland. ...

WILMINGTON, Del., July 17, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today announced plans to issue its third-quarter earnings release at approximately 5 p.m. ET on Tuesday, August 6, 2024. The company’s live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 10 a.m. ET on Wednesday, August 7. Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland. ...