As an investment analyst with 3 years of experience in the finance sector, I specialize in analyzing market trends, conducting thorough financial assessments, and providing actionable investment recommendations. My expertise lies in momentum and factor investing, where I utilize a blend of quantitative and qualitative methods to identify opportunities and manage risks.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate a ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Ashland Inc. (ASH) : is a additive and specialty ingredients provider. The Zacks Consensus Estimate for its current year earnings has been revised 15% downward over the last 60 days.Baidu, Inc. (BIDU) is an online marketing and cloud services provider. The Zacks Consensus Estimate for its current year earnings has been revised 9% downward over the last 60 days.Evolent Health, Inc. (EVH) is a health service company. The Zacks Consensus ...

HIBISCUS phase 2 data evaluating the safety profile and efficacy of etavopivat in adult and adolescent patients with sickle cell diseaseFRONTIER4 interim phase 3 results evaluating safety profile and efficacy of Mim8 prophylaxis administered once every two weeks for patients with haemophilia A with or without inhibitorsExplorer7 phase 3 study results evaluating the safety profile and efficacy of concizumab in patients with haemophilia A or B with inhibitors, with or without target joints at baseline Bagsvær ...

SEATTLE, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, announced that its next-generation sequencing (NGS)-based clonoSEQ® test for measurable residual disease (MRD) assessment will be included in more than 65 abstracts across eight different types of blood cancer at the 66th Annual Meeting of the American So ...

SAN DIEGO, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (NASDAQ: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced that it will be hosting a virtual investor event at 8:00 a.m. ET / 5:00 a.m. PT on Monday, December 9, 2024, to discuss the KOMET-007 combination trial of the Company’s oral and selective menin inhibitor, ziftomenib, following the presentation of updated clinical data at the 66th Amer ...

SAN FRANCISCO, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical stage biopharmaceutical company developing targeted protein modulation drugs designed to treat patients with cancer and inflammatory diseases, today announced that the company will host a live webcast to review new clinical data from the ongoing Phase 1a/1b clinical trial of its Bruton’s tyrosine kinase (BTK) degrader program NX-5948, and provide a corporate update, at 8:15 p.m. PT (11:15 p.m. ET) on Monday, ...

Core Viewpoint - Immix Biopharma is advancing its CAR-T therapy NXC-201 for relapsed/refractory AL Amyloidosis, demonstrating a 75% complete response rate in patients with a median of 4 prior lines of therapy, with further data to be presented at the upcoming ASH Annual Meeting [1][2][3]. Company Overview - Immix Biopharma, Inc. is a clinical-stage biopharmaceutical company focused on developing cell therapies for AL Amyloidosis and select immune-mediated diseases [10]. - The lead candidate, NXC-201, is a BCMA-targeted CAR-T cell therapy currently evaluated in two clinical trials: NEXICART-1 (ex-U.S.) and NEXICART-2 (U.S.) [10][7]. Clinical Trials - NEXICART-1 is an open-label Phase 1b/2 trial assessing NXC-201 in patients with relapsed/refractory multiple myeloma and AL Amyloidosis, focusing on safety and efficacy [4]. - NEXICART-2 is a U.S. Phase 1b/2 trial designed to enroll 40 patients with adequate cardiac function, evaluating two doses of NXC-201 [5]. - Initial data from NEXICART-1 indicates no neurotoxicity associated with NXC-201 [6]. Market Insights - The U.S. prevalence of relapsed/refractory AL Amyloidosis is projected to grow at 12% annually, reaching approximately 33,277 patients in 2024 [9]. - The AL Amyloidosis market was valued at $3.6 billion in 2017 and is expected to reach $6 billion by 2025 [9]. Presentation Details - NXC-201 data will be presented at the 66th ASH Annual Meeting in San Diego, California, on December 9, 2024, highlighting its efficacy and safety [3][2].

PART I [Item 1. Business](index=4&type=section&id=Item%201.%20Business) Ashland Inc. is a global specialty additives and materials company serving diverse consumer and industrial markets - Ashland Inc. is a global specialty additives and materials company with approximately **3,200** employees, serving customers in over **100** countries across various consumer and industrial markets[7](index=7&type=chunk) - The company's reportable segments include Life Sciences, Personal Care, Specialty Additives, and Intermediates, with Unallocated and Other covering corporate governance and legacy matters[7](index=7&type=chunk) Fiscal Year 2024 Sales Contribution by Product Category (10% or greater of total consolidated sales) | Product | % of Ashland total consolidated sales | | :---------------------- | :------------------------------------ | | Cellulosics | 37% | | Polyvinylpyrrolidones (PVP) | 23% | - Ashland maintains a company-wide environmental policy, with reserves for environmental remediation and related litigation amounting to **$221 million** at September **30**, **2024**, with a reasonably possible upper range of **$485 million**[23](index=23&type=chunk)[24](index=24&type=chunk) - The company operates in highly competitive markets, with competition based on product performance, quality, price, availability, customer service, and technical capability. Key competitors are often larger with greater financial resources[27](index=27&type=chunk) - Ashland's human capital strategy focuses on a Zero Incident Culture (ZIC) for safety, aligning operations with the Paris Climate Accord, attracting and developing global talent, ensuring competitive and equitable pay, and fostering an inclusive and diverse workforce[33](index=33&type=chunk)[35](index=35&type=chunk)[38](index=38&type=chunk)[39](index=39&type=chunk) Employee Demographics as of September 30, 2024 | Category | Percentage | | :-------------- | :--------- | | Total Employees | 3,200 | | Male Employees | 68% | | Female Employees| 32% | | US Ethnically Diverse | 21% | | Board Diversity | 72% | | Executive Committee Women | 30% | | Executive Committee Ethnic Diversity | 60% | [General](index=4&type=section&id=General) [Life Sciences](index=5&type=section&id=Life%20Sciences) [Personal Care](index=5&type=section&id=Personal%20Care) [Specialty Additives](index=6&type=section&id=Specialty%20Additives) [Intermediates](index=7&type=section&id=Intermediates) [Miscellaneous](index=7&type=section&id=Miscellaneous) [Environmental Matters](index=7&type=section&id=Environmental%20Matters) [Product Control, Registration and Inventory](index=8&type=section&id=Product%20Control,%20Registration%20and%20Inventory) [Remediation](index=8&type=section&id=Remediation) [Air](index=8&type=section&id=Air) [Solid Waste](index=9&type=section&id=Solid%20Waste) [Water](index=9&type=section&id=Water) [Climate Change and Related Regulatory Developments](index=9&type=section&id=Climate%20Change%20and%20Related%20Regulatory%20Developments) [Competition](index=9&type=section&id=Competition) [Intellectual Property](index=10&type=section&id=Intellectual%20Property) [Raw Materials and Energy](index=10&type=section&id=Raw%20Materials%20and%20Energy) [Research and Development](index=10&type=section&id=Research%20and%20Development) [Seasonality](index=10&type=section&id=Seasonality) [Human Capital](index=10&type=section&id=Human%20Capital) [Employee Health and Safety](index=10&type=section&id=Employee%20Health%20and%20Safety) [Environmental](index=10&type=section&id=Environmental) [Human Capital Management](index=11&type=section&id=Human%20Capital%20Management) [Competitive Pay and Benefits](index=12&type=section&id=Competitive%20Pay%20and%20Benefits) [Inclusion and Diversity](index=13&type=section&id=Inclusion%20and%20Diversity) [Talent Management](index=14&type=section&id=Talent%20Management) [Forward-Looking Statements](index=14&type=section&id=Forward-Looking%20Statements) [Item 1A. Risk Factors](index=14&type=section&id=Item%201A.%20Risk%20Factors) Ashland faces a range of significant risks that could adversely affect its business, financial performance, and growth - Ashland's aggressive growth goals are subject to risks such as failure to optimize assets, integrate acquisitions, and manage unexpected costs, potentially leading to reduced sales or asset impairment[44](index=44&type=chunk)[45](index=45&type=chunk) - Business disruptions from natural disasters, operational hazards, supply chain issues, cyber-attacks, and geopolitical conflicts (e.g., Ukraine/Russia, Israel/Hamas) could severely harm operations and financial performance, with insurance potentially insufficient to cover all damages[46](index=46&type=chunk) - Climate change poses risks including supply chain disruptions, operational impacts in vulnerable areas, increased energy costs, water scarcity, and scrutiny over raw material sourcing (e.g., deforestation). Failure to meet sustainability commitments could also lead to reputational and business impacts[47](index=47&type=chunk)[49](index=49&type=chunk) - Operating in highly competitive global markets, Ashland faces downward pressure on prices and margins, and may struggle to pass on increased raw material or energy costs to customers. The inability to develop new, sustainable products could result in market share loss[54](index=54&type=chunk)[55](index=55&type=chunk)[57](index=57&type=chunk) - Ashland's substantial global operations (over half of net sales outside North America) expose it to risks from foreign exchange fluctuations, trade restrictions, geopolitical instability, and difficulties in enforcing agreements or collecting receivables in foreign legal systems[50](index=50&type=chunk)[51](index=51&type=chunk) - The company's substantial debt could limit its ability to fund operations, acquisitions, and respond to market changes, potentially leading to default if cash flow is insufficient for repayment[52](index=52&type=chunk) - Ashland relies on IT systems, patents, trademarks, and trade secrets, making it vulnerable to cybersecurity threats, intellectual property infringement claims, and the loss of proprietary information[59](index=59&type=chunk)[60](index=60&type=chunk)[62](index=62&type=chunk) - Significant legal and regulatory risks include product liability claims, substantial environmental remediation costs (reserves of **$221 million**, potential upper end **$485 million**), and asbestos litigation liabilities (**$459 million** at Sept **30**, **2024**), which are subject to inherent uncertainties in estimation[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk)[89](index=89&type=chunk)[90](index=90&type=chunk) - Changes in tax laws, such as the OECD's Pillar Two initiative for a **15%** global minimum tax, and disagreements with tax authorities in over **100** countries, could adversely affect Ashland's effective tax rates and cash flows[68](index=68&type=chunk) [Risks Related to the Company's Business Operations, Financial Performance and Growth](index=14&type=section&id=Risks%20Related%20to%20the%20Company's%20Business%20Operations,%20Financial%20Performance%20and%20Growth) [Risks Related to Competition](index=18&type=section&id=Risks%20Related%20to%20Competition) [Risks Related to Human Capital](index=19&type=section&id=Risks%20Related%20to%20Human%20Capital) [Risks Related to Information Technology, Cybersecurity and Intellectual Property](index=19&type=section&id=Risks%20Related%20to%20Information%20Technology,%20Cybersecurity%20and%20Intellectual%20Property) [Risks Related to Legal and Regulatory Compliance and Litigation](index=20&type=section&id=Risks%20Related%20to%20Legal%20and%20Regulatory%20Compliance%20and%20Litigation) [Risks Related to Taxation](index=22&type=section&id=Risks%20Related%20to%20Taxation) [Item 1B. Unresolved Staff Comments](index=22&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) There are no unresolved staff comments to report - The company has no unresolved staff comments[69](index=69&type=chunk) [Item 1C. Cybersecurity](index=22&type=section&id=Item%201C.%20Cybersecurity) Ashland maintains a robust information security program, aligned with NIST Cybersecurity Framework **2.0**, as part of its Enterprise Risk Management - Ashland's information security program, part of its ERM, aligns with NIST Cybersecurity Framework **2.0** and includes an incident response plan, **24/7** Security Operations Center, and a dedicated threat hunting team[70](index=70&type=chunk) - The program also incorporates employee training, periodic testing of security systems, and engagement with third-party consultants for risk identification and assessment[70](index=70&type=chunk) - The Vice President of Cyber Security, with over **30** years of IT experience, leads the program, and the Board's Audit Committee provides oversight of cybersecurity risks[73](index=73&type=chunk) - As of the report date, Ashland is not aware of any cybersecurity incidents that have materially affected its business, results of operations, or financial condition[72](index=72&type=chunk) [Risk Management and Strategy](index=22&type=section&id=Risk%20Management%20and%20Strategy) [Governance](index=23&type=section&id=Governance) [Item 2. Properties](index=23&type=section&id=Item%202.%20Properties) Ashland's corporate headquarters is in Wilmington, Delaware, which is owned, while other principal offices and shared service centers are leased - Ashland's corporate headquarters is owned in Wilmington, Delaware, with other major operational offices and shared service centers leased in various global locations[74](index=74&type=chunk) - The company considers its physical properties suitable and adequate for its business[74](index=74&type=chunk) [Item 3. Legal Proceedings](index=23&type=section&id=Item%203.%20Legal%20Proceedings) Ashland is involved in material legal proceedings, primarily asbestos-related litigation and environmental proceedings under CERCLA and similar state laws - Ashland faces asbestos-related litigation primarily from indemnification obligations related to the **1990** sale of Riley Stoker Corporation and claims against its subsidiary Hercules LLC[75](index=75&type=chunk)[76](index=76&type=chunk) - The company is identified as a 'potentially responsible party' (PRP) at **53** sites under CERCLA and similar state laws for environmental investigation and cleanup costs[77](index=77&type=chunk) - Ashland is involved in the Lower Passaic River, New Jersey matters, participating in remedial investigation and feasibility studies and facing lawsuits from other chemical companies for cost recovery[77](index=77&type=chunk) - For other pending legal proceedings, including commercial, product liability, toxic tort, and environmental matters, Ashland believes adequate reserves are recorded, and potential losses are not material as of September **30**, **2024**[78](index=78&type=chunk) [Asbestos-Related Litigation](index=23&type=section&id=Asbestos-Related%20Litigation) [Environmental Proceedings](index=24&type=section&id=Environmental%20Proceedings) [Other Pending Legal Proceedings](index=24&type=section&id=Other%20Pending%20Legal%20Proceedings) [Item 4. Mine Safety Disclosures](index=25&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to Ashland Inc - Item **4**. Mine Safety Disclosures is not applicable to Ashland Inc[80](index=80&type=chunk) PART II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=26&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Ashland's common stock is listed on the NYSE under the ticker symbol "ASH", with approximately **8,003** holders of record as of October **31**, **2024** - Ashland's common stock is listed on the NYSE under the ticker symbol "ASH"[7](index=7&type=chunk) - As of October **31**, **2024**, there were approximately **8,003** holders of record of Ashland's Common Stock[83](index=83&type=chunk) - Ashland expects to continue paying quarterly cash dividends comparable to past dividends, subject to the discretion of its Board of Directors[83](index=83&type=chunk) Common Stock Repurchase Activity (Q4 Fiscal 2024) | Period | Total Number of Shares Purchased | Average Price Paid per Share | Dollar Value Remaining (in millions) | | :-------------------------- | :------------------------------- | :--------------------------- | :----------------------------------- | | July 1, 2024 to July 31, 2024 | — | — | 770 | | August 1, 2024 to August 31, 2024 | 992,380 | $86.44 | 684 | | September 1, 2024 to September 30, 2024 | 740,117 | $86.82 | 620 | | **Total** | **1,732,497** | | **620** | - As of September **30**, **2024**, **$620 million** remained available for repurchase under the **2023** Stock Repurchase Program[88](index=88&type=chunk) [Market Information](index=26&type=section&id=Market%20Information) [Holders](index=26&type=section&id=Holders) [Dividends](index=26&type=section&id=Dividends) [FIVE-YEAR TOTAL RETURN PERFORMANCE GRAPH](index=26&type=section&id=FIVE-YEAR%20TOTAL%20RETURN%20PERFORMANCE%20GRAPH) [Repurchases of Company Common Stock](index=27&type=section&id=Repurchases%20of%20Company%20Common%20Stock) [Item 6. [Reserved]](index=27&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved and contains no information [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation](index=27&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operation) Ashland Inc. is a global specialty additives and ingredients company with a focus on ESG, serving diverse consumer and industrial markets - Ashland is a global specialty additives and ingredients company with **69%** of sales generated outside North America in **2024**[143](index=143&type=chunk) Sales by Geography (Percentage of Total Consolidated Sales) | Region | 2024 | 2023 | 2022 | | :---------------------- | :---- | :---- | :---- | | North America | 31 % | 31 % | 32 % | | Europe | 35 % | 36 % | 36 % | | Asia Pacific | 25 % | 23 % | 23 % | | Latin America & other | 9 % | 10 % | 9 % | Sales by Reportable Segment (Percentage of Total Consolidated Sales) | Reportable Segment | 2024 | 2023 | 2022 | | :---------------------- | :---- | :---- | :---- | | Life Sciences | 38 % | 40 % | 34 % | | Personal Care | 30 % | 27 % | 28 % | | Specialty Additives | 27 % | 28 % | 30 % | | Intermediates | 5 % | 5 % | 8 % | - Ashland's net income decreased from **$178 million** in **2023** to **$169 million** in **2024**, while diluted EPS increased slightly from **$3.31** to **$3.36**[150](index=150&type=chunk)[152](index=152&type=chunk) Key Financial Results (2024 vs. 2023 vs. 2022) | Metric | 2024 ($M) | 2023 ($M) | 2022 ($M) | 2024 Change ($M) | 2023 Change ($M) | | :------------------------------------------------------------------ | :-------- | :-------- | :-------- | :--------------- | :--------------- | | Net income | 169 | 178 | 927 | (9) | (749) | | Diluted earnings per share net income | 3.36 | 3.31 | 16.41 | 0.05 | (13.10) | | Income from continuing operations | 199 | 168 | 181 | 31 | (13) | | Diluted earnings per share income from continuing operations | 3.95 | 3.13 | 3.20 | 0.82 | (0.07) | | Operating income (loss) | (26) | 172 | 333 | (198) | (161) | | EBITDA | 142 | 419 | 1,342 | (277) | (923) | | Adjusted EBITDA | 459 | 459 | 590 | - | (131) | | Adjusted Diluted EPS from Continuing Operations Excluding Intangibles Amortization Expense | 4.45 | 4.07 | 5.70 | 0.38 | (1.63) | - Sales for **2024** decreased by **$78 million** (**4%**) compared to **2023**, primarily due to unfavorable pricing in a moderately deflationary raw material environment, and portfolio optimization initiatives[155](index=155&type=chunk) - Adjusted EBITDA remained consistent at **$459 million** for both **2024** and **2023**, driven by deflationary raw materials and favorable foreign exchange, offset by unfavorable pricing and lower volume in Life Sciences[154](index=154&type=chunk) - Ashland's liquidity position at September **30**, **2024**, included **$300 million** in cash and cash equivalents and **$596 million** in remaining borrowing capacity under its Revolving Credit Facility, totaling **$896 million** in available liquidity[214](index=214&type=chunk)[226](index=226&type=chunk) - The company's total debt outstanding was **$1,390 million** at September **30**, **2024**, with a consolidated net leverage ratio of **2.3** and an interest coverage ratio of **7.8**, well within covenant limits[227](index=227&type=chunk)[237](index=237&type=chunk) - For fiscal year **2025**, Ashland expects sales in the range of **$1.90 billion** to **$2.05 billion** and Adjusted EBITDA between **$430 million** and **$470 million**, anticipating lower growth, increased competitive intensity, and impacts from portfolio optimization[268](index=268&type=chunk) [BUSINESS OVERVIEW](index=43&type=section&id=BUSINESS%20OVERVIEW) [Ashland profile](index=43&type=section&id=Ashland%20profile) [Reportable segments](index=43&type=section&id=Reportable%20segments) [KEY DEVELOPMENTS](index=44&type=section&id=KEY%20DEVELOPMENTS) [Uncertainty relating to the ongoing Ukraine/Russia conflict and Israel/Hamas conflict](index=44&type=section&id=Uncertainty%20relating%20to%20the%20ongoing%20Ukraine/Russia%20conflict%20and%20Israel/Hamas%20conflict) [Other significant items](index=44&type=section&id=Other%20significant%20items) [Stock repurchase program](index=44&type=section&id=Stock%20repurchase%20program) [Stock repurchase program agreements](index=44&type=section&id=Stock%20repurchase%20program%20agreements) [Restructuring programs](index=44&type=section&id=Restructuring%20programs) [Nutraceuticals business](index=45&type=section&id=Nutraceuticals%20business) [RESULTS OF OPERATIONS – CONSOLIDATED REVIEW](index=45&type=section&id=RESULTS%20OF%20OPERATIONS%20%E2%80%93%20CONSOLIDATED%20REVIEW) [Consolidated review](index=45&type=section&id=Consolidated%20review) [Statements of Consolidated Comprehensive Income (Loss) – caption review](index=46&type=section&id=Statements%20of%20Consolidated%20Comprehensive%20Income%20(Loss)%20%E2%80%93%20caption%20review) [Adjusted income tax expense](index=50&type=section&id=Adjusted%20income%20tax%20expense) [Other comprehensive income (loss)](index=52&type=section&id=Other%20comprehensive%20income%20(loss)) [Use of non-GAAP measures](index=52&type=section&id=Use%20of%20non-GAAP%20measures) [EBITDA and Adjusted EBITDA](index=54&type=section&id=EBITDA%20and%20Adjusted%20EBITDA) [Diluted EPS and Adjusted Diluted EPS](index=56&type=section&id=Diluted%20EPS%20and%20Adjusted%20Diluted%20EPS) [RESULTS OF OPERATIONS – REPORTABLE SEGMENT REVIEW](index=58&type=section&id=RESULTS%20OF%20OPERATIONS%20%E2%80%93%20REPORTABLE%20SEGMENT%20REVIEW) [Life Sciences](index=60&type=section&id=Life%20Sciences) [Personal Care](index=61&type=section&id=Personal%20Care) [Specialty Additives](index=62&type=section&id=Specialty%20Additives) [Intermediates](index=64&type=section&id=Intermediates) [Unallocated and other](index=65&type=section&id=Unallocated%20and%20other) [FINANCIAL POSITION](index=66&type=section&id=FINANCIAL%20POSITION) [Liquidity](index=66&type=section&id=Liquidity) [Operating activities](index=67&type=section&id=Operating%20activities) [Investing activities](index=69&type=section&id=Investing%20activities) [Financing activities](index=69&type=section&id=Financing%20activities) [Cash provided (used) by discontinued operations](index=70&type=section&id=Cash%20provided%20(used)%20by%20discontinued%20operations) [Free Cash Flow and other liquidity resources](index=70&type=section&id=Free%20Cash%20Flow%20and%20other%20liquidity%20resources) [Capital resources](index=71&type=section&id=Capital%20resources) [Debt](index=71&type=section&id=Debt) [Credit Agreements and Refinancing](index=72&type=section&id=Credit%20Agreements%20and%20Refinancing) [Debt repayments and repurchases](index=72&type=section&id=Debt%20repayments%20and%20repurchases) [Accounts receivable facilities and off-balance sheet arrangements](index=72&type=section&id=Accounts%20receivable%20facilities%20and%20off-balance%20sheet%20arrangements) [Foreign Accounts Receivable Sales Program](index=73&type=section&id=Foreign%20Accounts%20Receivable%20Sales%20Program) [Supply Chain Finance Program](index=74&type=section&id=Supply%20Chain%20Finance%20Program) [Other debt](index=74&type=section&id=Other%20debt) [Available borrowing capacity and liquidity](index=74&type=section&id=Available%20borrowing%20capacity%20and%20liquidity) [Covenants related to current Ashland debt agreements](index=74&type=section&id=Covenants%20related%20to%20current%20Ashland%20debt%20agreements) [Ashland credit ratings](index=75&type=section&id=Ashland%20credit%20ratings) [Additional capital resources](index=75&type=section&id=Additional%20capital%20resources) [Ashland cash projection](index=75&type=section&id=Ashland%20cash%20projection) [Total Equity](index=75&type=section&id=Total%20Equity) [2023 Stock repurchase program](index=76&type=section&id=2023%20Stock%20repurchase%20program) [Stockholder dividends](index=76&type=section&id=Stockholder%20dividends) [Capital expenditures](index=76&type=section&id=Capital%20expenditures) [OFF-BALANCE SHEET ARRANGEMENTS](index=77&type=section&id=OFF-BALANCE%20SHEET%20ARRANGEMENTS) [NEW ACCOUNTING PRONOUNCEMENTS](index=77&type=section&id=NEW%20ACCOUNTING%20PRONOUNCEMENTS) [CRITICAL ACCOUNTING ESTIMATES](index=77&type=section&id=CRITICAL%20ACCOUNTING%20ESTIMATES) [Environmental remediation and asset retirement obligations](index=77&type=section&id=Environmental%20remediation%20and%20asset%20retirement%20obligations) [Asbestos litigation](index=78&type=section&id=Asbestos%20litigation) [Accounting for goodwill and other indefinite-lived intangible assets](index=80&type=section&id=Accounting%20for%20goodwill%20and%20other%20indefinite-lived%20intangible%20assets) [Income taxes](index=81&type=section&id=Income%20taxes) [EFFECTS OF INFLATION AND CHANGING PRICES](index=82&type=section&id=EFFECTS%20OF%20INFLATION%20AND%20CHANGING%20PRICES) [OUTLOOK](index=83&type=section&id=OUTLOOK) [Portfolio-optimization actions](index=83&type=section&id=Portfolio-optimization%20actions) [Financial Outlook](index=83&type=section&id=Financial%20Outlook) [FORWARD-LOOKING STATEMENTS](index=83&type=section&id=FORWARD-LOOKING%20STATEMENTS) [Item 7A. Quantitative and Qualitative Disclosures about Market Risk](index=84&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Ashland manages its exposure to foreign currency fluctuations using derivative instruments, primarily short-term forward contracts, to mitigate earnings volatility - Ashland uses foreign currency derivative instruments to manage exposure to foreign currency fluctuations, primarily for short-term intercompany loans[271](index=271&type=chunk) - Derivative contracts generally have maturities of less than twelve months, are valued at fair value, and net changes are recorded in selling, general and administrative expense[271](index=271&type=chunk) - As of September **30**, **2024**, Ashland had no significant open hedging contracts for commodities[271](index=271&type=chunk) [Item 8. Financial Statements and Supplementary Data](index=85&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents Ashland's audited consolidated financial statements, management's report on internal control, independent auditor's reports, and detailed notes on accounting policies and various financial items [Management's report on internal control over financial reporting](index=86&type=section&id=Management's%20report%20on%20internal%20control%20over%20financial%20reporting) [Reports of independent registered public accounting firm](index=87&type=section&id=Reports%20of%20independent%20registered%20public%20accounting%20firm) [Critical Audit Matters](index=88&type=section&id=Critical%20Audit%20Matters) [Valuation of Environmental Remediation Reserves](index=89&type=section&id=Valuation%20of%20Environmental%20Remediation%20Reserves) [Valuation of Asbestos Litigation Reserves](index=90&type=section&id=Valuation%20of%20Asbestos%20Litigation%20Reserves) [Statements of Consolidated Comprehensive Income (Loss)](index=91&type=section&id=Statements%20of%20Consolidated%20Comprehensive%20Income%20(Loss)) [Consolidated Balance Sheets](index=92&type=section&id=Consolidated%20Balance%20Sheets) [Statements of Consolidated Equity](index=93&type=section&id=Statements%20of%20Consolidated%20Equity) [Statements of Consolidated Cash Flows](index=94&type=section&id=Statements%20of%20Consolidated%20Cash%20Flows) [Notes to Consolidated Financial Statements](index=95&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) [NOTE A – SIGNIFICANT ACCOUNTING POLICIES](index=95&type=section&id=NOTE%20A%20%E2%80%93%20SIGNIFICANT%20ACCOUNTING%20POLICIES) [NOTE B – DIVESTITURES](index=101&type=section&id=NOTE%20B%20%E2%80%93%20DIVESTITURES) [NOTE C – DISCONTINUED OPERATIONS](index=102&type=section&id=NOTE%20C%20%E2%80%93%20DISCONTINUED%20OPERATIONS) [NOTE D – RESTRUCTURING ACTIVITIES](index=103&type=section&id=NOTE%20D%20%E2%80%93%20RESTRUCTURING%20ACTIVITIES) [NOTE E – FAIR VALUE MEASUREMENTS](index=104&type=section&id=NOTE%20E%20%E2%80%93%20FAIR%20VALUE%20MEASUREMENTS) [NOTE F – PROPERTY, PLANT AND EQUIPMENT](index=108&type=section&id=NOTE%20F%20%E2%80%93%20PROPERTY,%20PLANT%20AND%20EQUIPMENT) [NOTE G – GOODWILL AND OTHER INTANGIBLES](index=108&type=section&id=NOTE%20G%20%E2%80%93%20GOODWILL%20AND%20OTHER%20INTANGIBLES) [NOTE H – DEBT](index=109&type=section&id=NOTE%20H%20%E2%80%93%20DEBT) [NOTE I – OTHER NONCURRENT ASSETS AND LIABILITIES](index=113&type=section&id=NOTE%20I%20%E2%80%93%20OTHER%20NONCURRENT%20ASSETS%20AND%20LIABILITIES) [NOTE J – LEASING ARRANGEMENTS](index=114&type=section&id=NOTE%20J%20%E2%80%93%20LEASING%20ARRANGEMENTS) [NOTE K – INCOME TAXES](index=115&type=section&id=NOTE%20K%20%E2%80%93%20INCOME%20TAXES) [NOTE L – EMPLOYEE BENEFIT PLANS](index=117&type=section&id=NOTE%20L%20%E2%80%93%20EMPLOYEE%20BENEFIT%20PLANS) [NOTE M – LITIGATION, CLAIMS AND CONTINGENCIES](index=122&type=section&id=NOTE%20M%20%E2%80%93%20LITIGATION,%20CLAIMS%20AND%20CONTINGENCIES) [NOTE N – EQUITY ITEMS](index=126&type=section&id=NOTE%20N%20%E2%80%93%20EQUITY%20ITEMS) [NOTE O – STOCK INCENTIVE PLANS](index=128&type=section&id=NOTE%20O%20%E2%80%93%20STOCK%20INCENTIVE%20PLANS) [NOTE P – REVENUE](index=131&type=section&id=NOTE%20P%20%E2%80%93%20REVENUE) [NOTE Q – REPORTABLE SEGMENT INFORMATION](index=132&type=section&id=NOTE%20Q%20%E2%80%93%20REPORTABLE%20SEGMENT%20INFORMATION) [Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=27&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) There are no changes in or disagreements with accountants on accounting and financial disclosure to report - There are no changes in and disagreements with accountants on accounting and financial disclosure[89](index=89&type=chunk) [Item 9A. Controls and Procedures](index=27&type=section&id=Item%209A.%20Controls%20and%20Procedures) Ashland's management concluded that the company's disclosure controls and procedures were effective as of September **30**, **2024** - Ashland's disclosure controls and procedures were effective as of September **30**, **2024**, as concluded by management, including the CEO and CFO[90](index=90&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended September **30**, **2024**[90](index=90&type=chunk) [Item 9B. Other Information](index=28&type=section&id=Item%209B.%20Other%20Information) This section discloses a Rule **10b5-1** trading arrangement entered into by Robin E. Lampkin for the sale of **1,464** shares of Ashland Common Stock - Robin E. Lampkin, SVP, General Counsel, and Corporate Secretary, entered a Rule **10b5-1** trading arrangement to sell **1,464** shares of Ashland Common Stock, effective until February **28**, **2025**, or earlier completion/termination[92](index=92&type=chunk) - Ashland has an Insider Trading Policy to govern securities transactions by its directors, officers, and employees, promoting compliance with insider trading laws[93](index=93&type=chunk) [Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=28&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) There is no disclosure regarding foreign jurisdictions that prevent inspections - There is no disclosure regarding foreign jurisdictions that prevent inspections[93](index=93&type=chunk) PART III [Item 10. Directors, Executive Officers and Corporate Governance](index=29&type=section&id=Item%2010.%20Directors,%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance is incorporated by reference from Ashland's **2025** Annual Meeting of Stockholders Proxy Statement - Information on directors, executive officers, and corporate governance is incorporated by reference from the **2025** Annual Meeting of Stockholders Proxy Statement[96](index=96&type=chunk) [Item 11. Executive Compensation](index=29&type=section&id=Item%2011.%20Executive%20Compensation) Details on executive compensation are incorporated by reference from Ashland's **2025** Annual Meeting of Stockholders Proxy Statement - Executive compensation information is incorporated by reference from the **2025** Annual Meeting of Stockholders Proxy Statement[97](index=97&type=chunk) [Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=29&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information on security ownership of beneficial owners and management is incorporated by reference from the **2025** Annual Meeting of Shareholders Proxy Statement - Security ownership information is incorporated by reference from the **2025** Annual Meeting of Shareholders Proxy Statement[98](index=98&type=chunk) Equity Compensation Plan Information as of September 30, 2024 | Plan Category | Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted-average exercise price of outstanding options, warrants and rights | Number of securities remaining available for future issuance under equity compensation plans | | :------------------------------------------------ | :------------------------------------------------------------------------ | :------------------------------------------------------------------------ | :----------------------------------------------------------------------------- | | Equity compensation plans approved by security holders | 534,449 | $66.16 | 10,363,703 | | Equity compensation plans not approved by security holders | 51,848 | — | 1,275,314 | | **Total** | **586,297** | **$66.16** | **11,639,017** | [Item 13. Certain Relationships and Related Transactions, and Director Independence](index=30&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) Information regarding certain relationships, related transactions, and director independence is incorporated by reference from Ashland's **2025** Annual Meeting of Stockholders Proxy Statement - Information on certain relationships, related transactions, and director independence is incorporated by reference from the **2025** Annual Meeting of Stockholders Proxy Statement[104](index=104&type=chunk) [Item 14. Principal Accountant Fees and Services](index=30&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information concerning principal accountant fees and services is incorporated by reference from Ashland's **2025** Annual Meeting of Stockholders Proxy Statement - Information on principal accountant fees and services is incorporated by reference from the **2025** Annual Meeting of Stockholders Proxy Statement[105](index=105&type=chunk) PART IV [Item 15. Exhibits and Financial Statement Schedules](index=31&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all exhibits and financial statement schedules filed as part of the **10-K** report, including various agreements, corporate documents, debt indentures, and compensation plans - Item **15** details various exhibits and financial statement schedules, including stock and asset purchase agreements, corporate governance documents, debt indentures, and equity compensation plans[109](index=109&type=chunk)[110](index=110&type=chunk)[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk)[115](index=115&type=chunk)[117](index=117&type=chunk)[119](index=119&type=chunk)[121](index=121&type=chunk) - The report includes Inline XBRL Instance Document, Taxonomy Extension Schema Document, Calculation Linkbase Document, Definition Linkbase Document, Label Linkbase Document, and Presentation Linkbase Document[131](index=131&type=chunk)[132](index=132&type=chunk)[133](index=133&type=chunk) [Item 16. Form 10-K Summary](index=40&type=section&id=Item%2016.%20Form%2010-K%20Summary) This item indicates that no Form **10-K** Summary is provided - No Form **10-K** Summary is provided[135](index=135&type=chunk)

Ashland Inc. (ASH) recorded fourth-quarter fiscal 2024 (ended Sept. 30, 2024) adjusted earnings of $1.26 per share, up from 41 cents in the prior-year quarter. The bottom line lagged the Zacks Consensus Estimate of $1.33.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Sales for the reported quarter were up around 1% year over year to $522 million. It beat the Zacks Consensus Estimate of $518.7 million. ASH saw higher sales volumes in Personal Care, Specialty Additives and Intermediate ...

NEW YORK, Nov. 12, 2024 /PRNewswire/ -- Ashland Place Finance LLC ("Ashland Place"), a commercial aviation financing platform, today announced the completion of a new facility financing the acquisition of a Boeing 737-800 for Crestone Air Partners, Inc. ("Crestone"), Air T, Inc. ("Air T") and Mill Road Capital Management LLC ("Mill Road").This is the third transaction that the Ashland Place platform has completed with Crestone, having previously financed the acquisitions of three Boeing 737-800 freighters i ...