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.
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.
Ashland Global Holdings Inc. (NYSE: ASH) has completed the acquisition of the personal care business from Schülke & Mayr GmbH for €262.5 million in cash. This acquisition is expected to be immediately accretive to Ashland's earnings per share and will enhance its consumer business portfolio and specialty additives position. The move aligns with Ashland's ESG goals and 'clean beauty' trend, appealing to a new generation of consumers. The acquisition supports their strategy for growth in the personal care sector, with a focus on sustainable solutions.
Ashland Global Holdings Inc. (NYSE: ASH) announced preliminary financial results for Q2 fiscal 2021, revealing sales of $598 million, a 2% decline year-on-year. Net income stood at $41 million or $0.66 per diluted share, a recovery from a previous loss. Adjusted income from continuing operations was $64 million or $1.05 per diluted share. While adjusted EBITDA dropped to $134 million, cash flow from operations improved to $64 million, with free cash flow of $40 million. Weather-related disruptions and changing consumer habits impacted sales.
Ashland Global Holdings Inc. (NYSE: ASH) is set to release its second-quarter earnings on April 28, 2021, at 5 p.m. ET. A live webcast for securities analysts and investors will follow on April 29, 2021, at 10 a.m. ET, featuring remarks from CEO Guillermo Novo and CFO Kevin Willis. The event will include an executive summary along with a slide presentation, available in the Investor Relations section of Ashland's website. An archived version of the webcast will be accessible for 12 months post-event.
Ashland Global Holdings Inc. (NYSE: ASH) announced plans to expand the production capacity of Natrosol™ hydroxyethylcellulose (HEC) at its Nanjing, China facility. This decision is driven by unprecedented demand for HEC, a key ingredient in various industries including paints and coatings, driven by a shift towards sustainable, water-based solutions. The expansion aligns with Ashland's growth strategy and commitment to customer needs and supply security.
Ashland Global Holdings Inc. (NYSE: ASH) reported preliminary financial results for Q1 FY2021, with sales reaching $552 million, up 4% year-over-year. The net income stood at $56 million or $0.91 per diluted share, significantly higher than $32 million last year. Income from continuing operations was $61 million or $0.99 per diluted share. Adjusted EBITDA rose to $124 million from $88 million the previous year. Operating cash flows were $106 million, improving from a deficit of $34 million in the prior-year quarter.
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