Ashland Stock Price, News & Analysis

Ashland Global Holdings Inc. (NYSE: ASH) announced the sale of its performance adhesives business to Arkema for approximately $1.65 billion. The cash transaction, which values the business at 20 times LTM EBITDA, is expected to close by year-end 2021, subject to regulatory approval. Ashland anticipates net proceeds will be between $1.2 billion and $1.3 billion, which will be utilized for growth investments, optimizing the balance sheet, and rewarding shareholders. This move aligns with Ashland’s strategy to focus on its core additive and ingredients portfolio.

Ashland Global Holdings Inc. (NYSE: ASH) announced the successful closing of a $450 million offering of 3.375% senior notes due 2031. These senior unsecured obligations will be guaranteed by Ashland Global Holdings. The funds will be primarily used to redeem existing 4.750% senior notes due 2022 and cover associated costs. Remaining proceeds will support general corporate purposes, including capital expenditures and debt repayment. The notes were offered to qualified institutional buyers and non-U.S. persons under relevant regulations, and not registered under the Securities Act.

Ashland Global Holdings Inc. (NYSE: ASH) has declared a quarterly cash dividend of $0.30 per share, payable on September 15, 2021, to stockholders of record as of September 1, 2021. As of July 31, 2021, the company has 60,734,468 shares outstanding. Ashland is recognized for its specialty materials, catering to diverse markets, including automotive, pharmaceuticals, and food and beverage.

Ashland Global Holdings Inc. (NYSE: ASH) has announced the pricing of $450 million in senior notes at 3.375%, due in 2031, through its subsidiary Ashland LLC. The offering is set to close on August 18, 2021, pending customary conditions. These unsecured notes will be guaranteed by Ashland Global Holdings. The proceeds will be used for refinancing existing senior notes due 2022, covering any associated costs, and for general corporate purposes, including working capital and capital expenditures.

Ashland Global Holdings Inc. (NYSE: ASH) announced its subsidiary Ashland LLC will offer $450 million of senior unsecured notes. The net proceeds will be used to redeem outstanding senior notes due 2022, covering premiums and associated expenses. Remaining funds will support general corporate activities, including working capital and capital expenditures. The offering is targeted at qualified institutional buyers and non-U.S. persons, and it will not be registered under the Securities Act.

Ashland Global Holdings Inc. (NYSE: ASH) reported preliminary financial results for Q3 of fiscal 2021, achieving sales of $637 million, an 11% increase year-over-year. Net income rose to $80 million, or $1.29 per diluted share, up from $37 million in the prior-year quarter. Adjusted EBITDA reached $148 million, driven by strong demand, despite challenges from supply-chain disruptions and raw material costs. Cash flows from operations totaled $233 million, with free cash flows at $210 million. The company reaffirmed its full-year expectations amidst ongoing market challenges.

Ashland Global Holdings Inc. (NYSE: ASH) will release its third-quarter earnings on July 27, 2021, at 5 p.m. ET. A live webcast for analysts and investors is scheduled for July 28, 2021, at 9 a.m. ET, featuring key executives including CEO Guillermo Novo. The webcast will include an executive summary and detailed remarks, and supporting materials will be available on the Investor Relations website. Archived versions will be accessible for 12 months thereafter.

Ashland Global Holdings (NYSE: ASH) announced preliminary financial results for Q3 and the full year of fiscal 2021, highlighting strong demand across its Life Sciences, Personal Care, and Specialty Additives sectors. However, challenges with raw material availability and supply chain inefficiencies are anticipated to pressure Adjusted EBITDA by $5 million to $10 million in Q3. Despite these challenges, the company maintains its Adjusted EBITDA guidance of $570 million to $590 million for the fiscal year. Strategic pricing actions are underway to offset rising raw material costs.

Ashland Global Holdings (NYS:ASH) announced the release of a comprehensive six-volume handbook on pyrrolidone and caprolactam based materials, authored by senior VP Osama Musa and his team. This publication aims to present the materials' synthesis, characterization, and applications across various industries, emphasizing their benefits to consumers and sustainability efforts. The handbook covers topics from the fundamental chemistry to complex applications in multiple sectors including pharmaceuticals and personal care. It is now available for purchase online.