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 Inc. (NYSE: ASH) has made notable advancements in its environmental, social, and governance (ESG) initiatives, as highlighted in its recent ESG report. The report aligns with the Paris Climate Accord's aims, reflecting a commitment to science-based emissions reduction targets. Ashland is part of the UN Global Compact and focuses on sustainable sourcing and operations. The company has achieved significant certifications, like the RSPO Supply Chain certification and EcoVadis Silver Status. CEO Guillermo Novo emphasized that these efforts integrate sustainability into the core of the business strategy, reinforcing the company's transformation.
Ashland Inc. (NYSE: ASH) announced that effective October 1, 2022, it will implement a price increase of up to 15% across all its products due to rising costs from inflation, energy, raw materials, freight, and labor. This increase applies to various markets including life sciences, personal care, and specialty additives. Ashland's proactive approach aims to align its pricing strategy with the ongoing economic pressures affecting production costs.
Ashland has announced a major expansion of its Viatel™ bioresorbable polymer facility in Mullingar, Ireland, aimed at increasing manufacturing and lab space. This expansion will double the facility's size and workforce, enhancing Ashland's ability to meet customer demands for innovative polymer chemistry in chronic disease treatments. The project, which began in June 2022, is expected to be completed by 2024, highlighting Ashland's commitment to the growing market for long-acting injectables and custom polymer production.
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.
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.
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