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 (NYSE: ASH) has announced its board of directors has declared a quarterly cash dividend of $0.405 per share on common stock. The dividend will be paid on December 15, 2024, to stockholders of record as of December 1, 2024. The company reported 47,109,326 outstanding shares of common stock as of October 31, 2024.
Ashland (NYSE: ASH) has announced a strategy update event for analysts and investors scheduled for December 10, 2024, in New York City. The event will feature presentations from Ashland's executive team, focusing on strategic priorities, key initiatives, and financial objectives for fiscal year 2025.
The session will run from 9:00 AM to 11:00 AM ET, followed by breakout sessions until noon for in-person attendees. Both in-person and webcast participants will have opportunities to engage in Q&A sessions.
Key presenters include Chair and CEO Guillermo Novo, CFO Kevin Willis, and senior leadership from specialty additives, life sciences, and personal care divisions. Registration is required, with in-person seating available. A webcast replay will be accessible for 12 months on Ashland's investor website.
Ashland Inc. (NYSE: ASH) reported Q4 fiscal 2024 financial results with sales of $522 million, up 1% year-over-year. Income from continuing operations was $19 million ($0.39 per diluted share), while adjusted EBITDA increased 68% to $124 million. The company faced challenges including HEC operating issues ($5 million impact) and softer coatings demand in China. Notable developments include the sale of nutraceuticals business to Turnspire Capital Partners and portfolio optimization initiatives that reduced overall sales by $24 million. The company repurchased 1.7 million shares and generated $88 million in ongoing free cash flow. For fiscal 2025, Ashland expects sales between $1.90-2.05 billion and adjusted EBITDA of $430-470 million.
Ashland Inc. (NYSE: ASH) has announced it will release its fourth-quarter fiscal 2024 earnings on Wednesday, November 6, 2024, at approximately 5 p.m. ET. The company will host a live webcast with securities analysts at 9 a.m. ET on Thursday, November 7, featuring an executive summary and detailed remarks. A slide presentation will be available in the Investor Relations section of the company's website. Key executives participating include Chair and CEO Guillermo Novo, CFO Kevin Willis, and other senior management team members. The webcast and supporting materials will be accessible through Ashland's website for 12 months after the event.
D.A. Davidson & Co. has acted as the exclusive financial advisor to Turnspire Capital Partners for an asset-backed credit facility to finance Turnspire's acquisition of Pharmachem Innovations, from Ashland Inc. (NYSE: ASH). Pharmachem is a leading provider of proprietary nutrition ingredients and custom formulation services for the nutrition market. The company has approximately 500 employees across four production facilities in New Jersey, Utah, and Mexico. Ilya Koffman, Managing Partner at Turnspire, stated that the new capital structure will support Pharmachem's growth plans. This transaction showcases D.A. Davidson's capability in arranging financings for financial sponsors.
Ashland has commercialized easy-wet™ 300 n, a super wetting agent for crops including corn, soy, wheat, watermelon, and florals. This innovative product, developed using proprietary technology, offers superior wettability compared to non-silicone, non-ionic surfactants. Key features include:
- Biodegradable and silicone-free
- Reduces spray drift
- Effective at lower concentrations
- Improves pesticide adhesion to leaves
- Non-phytotoxic
The successful commercialization follows field trials and customer pilots, demonstrating Ashland's commitment to scaling high-performance, sustainable technologies. This product aligns with Ashland's strategy to balance crop yield improvement with sustainability goals.
Turnspire Capital Partners has completed the acquisition of Pharmachem Innovations from Ashland Inc. (NYSE: ASH). Pharmachem is a leading provider of proprietary nutrition ingredients and custom formulation services for the nutraceuticals industry. The company has approximately 500 employees across four production facilities in the US and Mexico.
As part of the acquisition, Maurice Murphy has been appointed Executive Chairman, and Jeff Rogers as Interim CEO. Both executives bring significant experience in private equity-owned businesses and the nutraceuticals sector. Turnspire aims to leverage its expertise in transforming corporate carve-outs to capitalize on growth opportunities in Pharmachem's markets.
Pharmachem Innovations, has launched as an independent company following its acquisition from Ashland, Inc. (NYSE: ASH) by Turnspire Capital Partners The company, headquartered in Kearny, NJ, is a leading provider of nutraceuticals products and solutions with manufacturing facilities in the US and Mexico.
Maurice Murphy has been named Executive Chairman, while Jeff Rogers joins as Interim CEO. Pharmachem aims to accelerate growth through customer partnerships and investments in new capabilities. The company produces proprietary and private-labeled products for various health applications and offers custom formulation and contract manufacturing services.
Ashland Inc. (NYSE: ASH) has completed the sale of its nutraceuticals business to an affiliate of Turnspire Capital Partners on August 30, 2024. The transaction includes custom formulation and contract manufacturing capabilities for the nutrition market from production facilities in New Jersey, Utah, and Tamaulipas, Mexico. Financial terms were not disclosed.
Guillermo Novo, Ashland's CEO, acknowledged the strong portfolio and capabilities of the nutraceuticals business, thanking employees for their dedication. Ilya Koffman, managing partner at Turnspire, expressed enthusiasm for working with the newly named Pharmachem Innovations team to build on the business's legacy in the nutraceuticals space.
Citi served as financial advisor to Ashland, while Cravath, Swaine & Moore LLP acted as legal advisor for the transaction.
Ashland Inc. (NYSE: ASH) has announced a quarterly cash dividend of $0.405 per share on its common stock. The dividend will be paid on September 15, 2024, to stockholders of record as of September 1, 2024. As of July 31, 2024, Ashland had 48,832,846 outstanding shares of common stock. This decision by the board of directors demonstrates the company's commitment to returning value to shareholders and may indicate confidence in Ashland's financial stability and future prospects.