Ashland Stock Price, News & Analysis

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.

Ashland Specialties Belgium BVBA has signed a memorandum of understanding with Dockwater BV to procure sustainable process water from the Dockwater project in Antwerp. This agreement aims to reduce drinking water consumption by up to 98% and overall water usage by 15%. Additionally, it is expected to lower water treatment chemical use by over 50%, while decreasing costs. The initiative supports sustainable water practices, improving the drinking water supply in Antwerp, and aligns with the Flemish government's Blue Deal for water conservation.

Ashland Global Holdings Inc. (NYSE: ASH) has initiated a strategic review of its performance adhesives business, considering all options including potential sale. This aligns with Ashland's strategy to focus on its core additive ingredients in pharma, personal care, and coatings. The CEO highlighted the business unit's strong performance and innovative potential. The company aims to enhance shareholder value through increased capital deployment and acquisitions in high-value sectors. The strategic review is expected to conclude by year-end 2021, assisted by Citi.

Ashland Global Holdings Inc. (NYSE: ASH) has announced a 9% increase in its quarterly dividend, raising it from $0.275 to $0.30 per share. This change reflects the company's commitment to returning value to shareholders. The dividend will be payable on June 15, 2021, to stockholders of record as of June 1, 2021. As of April 30, 2021, there were 60,723,629 shares of Ashland common stock outstanding, suggesting a robust return on investment for shareholders.