Welcome to our dedicated page for Ashland news (Ticker: ASH), a resource for investors and traders seeking the latest updates and insights on Ashland stock.
Ashland Inc. (NYSE: ASH) is a premier global specialty chemicals company that serves a wide range of consumer and industrial markets. With a workforce of nearly 7,000 passionate professionals, including renowned scientists, research chemists, talented engineers, and plant operators, Ashland thrives on developing practical, innovative, and elegant solutions to complex problems for customers in more than 100 countries.
Operating in four distinct segments—Life Sciences, Personal Care, Specialty Additives, and Intermediates—Ashland is a key supplier to pharmaceutical companies, manufacturers of personal care products, food and beverages, nutraceuticals, and supplements. The Life Sciences segment generates the highest revenue, reflecting the company’s strong focus on this area.
Recently, Ashland announced significant organizational changes within its finance, strategy, mergers and acquisitions (M&A), and portfolio teams. The company has also issued its first-quarter financial results for fiscal year 2024 and outlined its outlook for the second quarter and full year. Ashland's leadership positions in high-quality, consumer-focused markets such as pharmaceuticals, personal care, and architectural coatings underline its commitment to excellence.
Ashland continues to foster gender equity and empowerment by spotlighting inspirational female employees, particularly in recognition of International Women’s Day. The company recently increased its support for greenlight4girls, a global initiative to inspire girls in STEM fields.
In line with its strategic goals, Ashland has signed a definitive agreement to sell its nutraceuticals business to Turnspire Capital Partners LLC. The transaction, expected to close in the third quarter of 2024, is subject to customary closing conditions.
For the latest updates and more detailed information, visit the official Ashland website and the Investor Relations section.
Ingevity (NYSE:NGVT) has elected J. Kevin Willis to its board of directors, expanding the board to nine members, with eight being independent. Willis currently serves as senior vice president and CFO at Ashland Inc. (NYSE:ASH), where he oversees worldwide financial functions and participates in global strategy setting. During his 37-year tenure at Ashland, Willis has accumulated extensive experience in accounting, finance, and treasury management, including international operations. His expertise includes driving shareholder value through capital allocation planning, operating efficiencies, and business portfolio separations, notably Ashland's separation from Valvoline.
Ashland Inc. (NYSE: ASH) marked its 100-year anniversary by ringing the opening bell at the New York Stock Exchange on December 9, 2024. CEO Guillermo Novo and company executives participated in this historic tradition that dates back to 1792.
The company has evolved from an oil and refining company to a focused additives and specialty ingredients company. One year ago, Ashland introduced seven new technology platforms aligned with its pharmaceutical, personal care, and specialty additives core, offering sustainable innovations to customers worldwide.
Ashland announced a strategy update event scheduled for December 10, 2024, in New York City. The event will provide an in-depth review of strategic priorities, initiatives, and financial objectives for fiscal year 2025. Despite challenges from inventory destocking in the materials sector, the company achieved margin expansion and high-quality free cash flow.
Ashland Inc. (NYSE: ASH) has announced a strategic partnership with the Arbor Day Foundation to plant 15,200 native trees, marking the company's 100-year anniversary. The initiative spans across Brazil, Mexico, and several U.S. states including Kentucky, West Virginia, Alabama, Mississippi, Georgia, and Florida.
The project includes specific focuses: Amazon rainforest reforestation (2,500 trees), wildlife corridor creation in Mexico (2,000 trees), former coal mine land restoration in the Central Appalachian Region (2,700 trees), and hurricane and flooding restoration in Gulf Coastal Forests (8,000 trees).
This initiative aligns with Ashland's recent commitment to Science based Targets initiative (SBTi) and their October 2023 formal approval of science-based targets addressing scope one, two and three emissions. The company emphasizes sustainable sourcing and innovation in personal care, architectural coatings, and life sciences through natural raw materials like cellulose and guar.
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.
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.
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