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 2Q Earnings Fall 54% On Charges; Results Top Views

DOW JONES NEWSWIRES Ashland Inc.'s (ASH) fiscal second-quarter profit fell 54% on debt-issuance charges as results topped analysts' expectations and sales rebounded. Chairman and Chief Executive James O'Brien said the results "reflect significant volume increases across our businesses, as well as the progress we have made in resizing our cost structure during the past two years." Ashland has been selling assets in the wake of its $2.6 billion takeover of Hercules, using proceeds to reduce its heavy debt load. Worries over its debt pressure from the purchase, as a result, have receded. Two ratings agencies in March upgraded Ashland to the brink of investment grade on stronger demand and improved credit quality. For the quarter ended March 31, Ashland reported a profit of $22 million, or 27 cents a share, down from $48 million, or 65 cents a share. Excluding accelerated amortization of debt-issuing costs and other impacts, earnings rose to $1.02 from 85 cents as revenue increased 13% to $2.25 billion. Analysts polled by Thomson Reuters most recently forecast earnings of 88 cents on revenue of $2.09 billion. Operating margin rose to 6.72% from 5.63%. Sales at Ashland's largest segment, water technology, rose 4%. Sales at the consumer business, which includes Valvoline, were up 6%, helping by a 16% increase in lubricant sales. Ashland on Tuesday also announced it has completed debt refinancing, which will cut annual interest costs $50 million. Shares closed Monday at $62.31 and didn't trade premarket. The stock has more than tripled in the past year. -By Jodi Xu, Dow Jones Newswires; 212-416-3037;

Stock News for Ashland (ASH)
10/26/201616:00:39Ashland to report financial results for fourth quarter of fiscal...
10/20/201616:30:12Current Report Filing (8-k)
10/20/201616:00:39Ashland announces receipt of requisite consents for consent solicitation
10/12/201613:03:01Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
10/12/201609:29:34Automatic Shelf Registration Statement of Securities of Well-known...
10/11/201610:10:46Statement of Ownership (sc 13g)
10/03/201617:27:39Statement of Changes in Beneficial Ownership (4)
10/03/201617:22:27Statement of Changes in Beneficial Ownership (4)
10/03/201610:00:36New Ashland brand signals acceleration of corporate mission...
09/30/201616:32:39Termination of Registration of a Class of Security Under Section...
09/28/201617:17:24Current Report Filing (8-k)
09/28/201617:17:24Current Report Filing (8-k)
09/28/201616:30:14Ashland and Valvoline announce closing of Valvoline Inc. initial...
09/23/201606:04:19Current Report Filing (8-k)
09/22/201621:20:00Valvoline IPO Prices at $22 a Share
09/22/201618:34:20Ashland and Valvoline announce pricing of Valvoline Inc. initial...
09/21/201616:52:56Current Report Filing (8-k)
09/20/201611:11:03Post-effective Amendment to an S-8 Filing (s-8 Pos)
09/20/201611:08:49Post-effective Amendment to an S-8 Filing (s-8 Pos)

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations