Ashland Inc. reports developments for a global additives and specialty ingredients business serving pharmaceuticals, personal care, food and beverage, architectural coatings, construction, energy and other industrial markets. Company updates commonly cover quarterly results and outlook, segment demand across Life Sciences, Personal Care, Specialty Additives and Intermediates, pricing actions tied to raw-material and logistics conditions, and capital returns through common-stock dividends.
Other Ashland news includes product and regulatory developments for specialty ingredients such as agrimer™ eco-coat polymer seed coating from the Transformed Vegetable Oils technology platform, as well as distribution relationships for cellulose ethers and PVPP in food and beverage applications.
Ashland, Inc. has completed the sale of about six acres of land in Ajax, Canada, to Sunray Group of Hotels for CAD 12.25 million, yielding net proceeds of CAD 9.2 million. The sale is part of Ashland's strategy to offload unutilized land to fund a newly created environmental trust. CEO Guillermo Novo emphasized that this trust aligns with the company's environmental, social, and governance (ESG) commitments.
Ashland Global Holdings Inc. (NYSE: ASH) reported third-quarter fiscal 2022 results showing sales of $644 million, a 19% increase year-over-year. Net income reached $36 million, or $0.65 per diluted share, down from $80 million the previous year. Adjusted income from continuing operations rose to $104 million, translating to $1.89 per share. Despite strong demand across segments, operational cash flow was negative at $(17) million. The company anticipates fiscal year sales between $2.35 billion and $2.40 billion, representing a 13% growth.
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Ashland Global Holdings Inc. (NYSE: ASH) reported preliminary fiscal 2022 third-quarter results, with sales of approximately $644 million, up 19% year-over-year. Adjusted EBITDA is expected at $174 million, a 35% increase. Income from continuing operations is projected at $51 million ($0.93 per diluted share). The company raised its fiscal year 2022 sales outlook to $2.35-$2.40 billion. Key drivers include strong end-market demand and disciplined pricing, though foreign currency negatively impacted results. Free cash flow generation is anticipated to be below prior year due to increased working capital.
Ashland Global Holdings (NYSE: ASH) has completed the sale of approximately 77.8 acres of land in Sayreville, NJ, under the Hercules Redevelopment Plan to Parlin Section 1 Urban Renewal, LLC, for a total of $40 million. The net proceeds are estimated at $38.5 million. This initiative aligns with Ashland's strategy to utilize unutilized land to fund an environmental trust, reinforcing the company’s commitment to environmental, social, and governance (ESG) values.
Ashland Global Holdings Inc. has appointed two new directors to its Board effective July 1, 2022, following the decision of William Dempsey and Ricky Sandler to not seek re-election at the upcoming Annual Shareholders Meeting in January 2023. The new board members, Steve Bishop and Suzan Harrison, bring extensive experience from Procter & Gamble and Colgate-Palmolive, respectively. This transition aims to enhance strategic execution and shareholder value as Ashland continues to adapt to market demands.
Ashland Global Holdings Inc. (NYSE: ASH) has declared a quarterly cash dividend of $0.335 per share, marking a 12% increase from the previous quarter. This dividend will be payable on June 15, 2022, to stockholders of record as of June 1, 2022. Additionally, the board authorized a new $500 million stock repurchase program, replacing the previous $1 billion plan. This initiative aims to enhance shareholder value.
Ashland Global Holdings Inc. (NYSE: ASH) reported strong financial results for Q2 FY2022, achieving sales of $604 million, a 19% increase year-over-year. Net income soared to $786 million, reflecting a one-time gain from the divestiture of its Performance Adhesives business. Income from continuing operations reached $38 million or $0.66 per diluted share. Adjusted EBITDA increased to $163 million, up 41% from the prior year, driven by disciplined pricing and improved product mix, despite challenges from foreign currency fluctuations and increasing raw material costs.
Ashland Global Holdings Inc. (NYSE: ASH) has announced a $50,000 donation to The Nature Conservancy (TNC) in honor of Earth Day. This includes $25,000 for TNC's Nature Lab, which focuses on STEM education for youth, and $25,000 for the Plant a Billion Trees initiative aimed at restoring forests by 2030. Ashland's contributions will help plant approximately 10,000 trees in various countries. The company also emphasizes its commitment to sustainable practices and biodiversity, aligning its operations with the Paris Climate Accord and supporting educational programs for future conservationists.
Ashland Global Holdings (NYSE: ASH) announced the completion of a $200 million share repurchase program and provided preliminary fiscal 2022 second-quarter financial results. Sales reached approximately $604 million, a 19% increase year-over-year. The company expects income from continuing operations of about $38 million, or $0.66 per diluted share. Adjusted EBITDA is projected at approximately $163 million, up 41%. Despite challenges from supply-chain issues and a potential economic impact from global events, the sales outlook remains steady at $2.25-$2.35 billion for the fiscal year.