ADVFN - Advanced Financial Network.
HOME» NYSE » A » ASH Stock Price » ASH Stock News

Ashland Share News

 Ashland (new) Stock Price
ASH Stock Price
 Ashland (new) Stock Chart
ASH Stock Chart
 Ashland (new) Stock News
ASH Stock News
 Ashland (new) Company Information
ASH Company Information
 Ashland (new) Stock Trades
ASH Stock Trades

Ashland Shares Rally On Return To Profit

By Jim Jelter Shares of Ashland Inc. (ASH) surged more than 10% early Tuesday after the specialty chemical maker reported a convincing return to profitability in its fiscal first quarter. For the three months ended Dec. 31, Ashland posted income of $86 million, or $1.10 a share, reversing a year-ago loss of $119 million, or 73 cents a share. The results reflect aggressive cost-cutting over the past year and incorporate earnings from Ashland's acquisition of fellow chemical maker Hercules, which it completed Oct. 1. The year-ago quarter included one-time items that knocked $1.98 a share from its bottom line, making the year-on-year comparisons even more dramatic. Sales for the latest quarter rose to $2.02 billion from $1.97 billion. Excluding one-time items, the company's operating income from continuing operations was 97 cents a share, easily topping the 73 cents analysts polled by FactSet Research had expected. Ashland shares, which initially rose 10.5% on the news, were recently trading at $43.15, up $3.52, or 8.9% "Modest growth in underlying demand, gross margin increases in all of our commercial units, and our continued focus on cost reductions contributed to this improved performance," said Chief Executive James O'Brien. "Each of our businesses is currently showing some signs of demand improvement and stable or improving margins. Although raw material cost increases may well occur during the fiscal year, our continued emphasis on pricing and cost management should support both increased profitability and growth as the economy recovers," he added. Shares of the Covington, Ky.-based company are up a whopping 358% over the past 12 months from a low of $5.35 in early March 2009. -By Jim Jelter; 415-439-6400; AskNewswires@dowjones.com

Stock News for Ashland (ASH)
DateTimeHeadline
07/30/201516:11:56Quarterly Report (10-q)
07/29/201517:14:05Current Report Filing (8-k)
07/29/201517:00:00Ashland Inc. Reports Preliminary Financial Results for Third...
07/20/201517:16:50Current Report Filing (8-k)
07/17/201516:35:43Statement of Changes in Beneficial Ownership (4)
07/17/201516:34:22Statement of Changes in Beneficial Ownership (4)
07/16/201516:58:06Statement of Changes in Beneficial Ownership (4)
07/16/201509:36:03Ashland Inc. board declares regular quarterly dividend
07/14/201515:38:14Statement of Changes in Beneficial Ownership (4)
07/08/201508:00:00Ashland Inc. to report third-quarter financial results after...
07/02/201513:26:03Statement of Changes in Beneficial Ownership (4)
07/02/201513:22:01Statement of Changes in Beneficial Ownership (4)
07/02/201510:00:29Ashland to acquire AkzoNobel's Zeta Fraction* biofunctional technology
07/01/201511:00:21Ashland completes previously announced sale of industrial biocides...
07/01/201508:00:24Ashland completes previously announced sale of Valvoline's car-care...
06/23/201516:46:59Current Report Filing (8-k)
06/23/201516:30:36Ashland Inc. announces entry into new Credit Agreement
06/23/201508:00:00Ashland Inc. announces expiration of previously announced cash...
06/18/201510:35:36Statement of Changes in Beneficial Ownership (4)
06/17/201517:48:32Statement of Changes in Beneficial Ownership (4)

Ashland and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad