Ashland Inc
ASH
ISIN US0441861046 / Valor 33989330
Ashland Inc
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About company
Ashland Inc. is a global specialty chemicals company that plays a pivotal role in various industries by designing, synthesizing, and producing specialty additives and ingredients. These products find applications in a wide range of everyday items, enhancing their performance, quality, and consumer appeal. A notable area of Ashland's expertise is in the healthcare sector, where its Viatel™ platform of bioresorbable polymers is utilized in parenteral controlled release systems and medical device formulations. This technology underscores Ashland's commitment to innovation and its ability to address complex formulation challenges in the pharmaceutical and medical device industries. While the company has engaged in environmental, social, and governance initiatives, its core business revolves around leveraging advanced materials science to deliver specialized chemical solutions that meet the evolving needs of its customers across various markets.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (07.08.2024):
Sales Performance
Ashland Inc. reported sales of $544 million for the third quarter of fiscal year 2024, which ended on June 30, 2024. This represents a slight decrease from the $546 million reported in the same quarter of the previous year. The sales volume saw improvements in the Personal Care and Specialty Additives segments, although this was partially offset by lower volumes in the Life Sciences segment.
Net Income
For the third quarter of fiscal year 2024, Ashland Inc. reported a net income of $6 million, or $0.12 per diluted share. This is a significant decrease from the $50 million net income reported in the same quarter of the previous year. Income from continuing operations was $31 million, down from $42 million in the prior-year quarter.
Adjusted Earnings
Ashland Inc.'s adjusted income from continuing operations, excluding intangibles amortization expense, was $75 million for the third quarter of fiscal year 2024. This is an increase from the $65 million reported in the same quarter of the previous year. Adjusted earnings per diluted share were $1.49, up from $1.23 in the prior-year quarter.
Adjusted EBITDA
The company reported an adjusted EBITDA of $139 million for the third quarter of fiscal year 2024, which is a five percent increase from the $133 million reported in the same quarter of the previous year. This growth was driven by higher sales and production volumes, a favorable product mix, and deflationary raw materials, although it was partially offset by unfavorable pricing and higher selling, administrative, research, and development expenses.
Share Repurchase and Cash Flow
During the third quarter of fiscal year 2024, Ashland Inc. repurchased 1.3 million shares, leaving $770 million remaining under the existing share repurchase authorization. Cash flows provided by operating activities totaled $128 million, down from $137 million in the prior-year quarter. Ongoing free cash flow was $112 million, compared to $97 million in the same quarter of the previous year.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
3404 M
Market cap (USD)
126,966
Daily traded volume (Shares)
72.6 / 71.15
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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