Last $105.71 USD
Change Today -0.22 / -0.21%
Volume 415.5K
ASH On Other Exchanges
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As of 8:04 PM 09/29/14 All times are local (Market data is delayed by at least 15 minutes).

ashland inc (ASH) Key Developments

Ashland Inc. Presents at 3rd Annual Seattle Industrials Conference 2014, Sep-17-2014

Ashland Inc. Presents at 3rd Annual Seattle Industrials Conference 2014, Sep-17-2014 . Venue: Renaissance Seattle Hotel, 515 Madison St, Seattle, WA 98104, Washington, United States. Speakers: Jason Thompson, Director of Investor Relations.

Ashland Inc. Specialty Ingredients Expands HEC Production by 40%

Ashland Inc. Specialty Ingredients has announced that it will expand capacity at its Natrosol., hydroxyethylcellulose (HEC) production facility in Nanjing, China. This will increase capacity by 4,000 metric tons, or approximately 40%, over the next 18 months. The first phase of expansion will enable an additional 2,000 metric tons to be available in early 2015 to support the spring paint season. The second 2,000 metric tons will be available in late 2015. The HEC facility, four years old and employing more than 100 workers, is located within the Nanjing Chemical Industrial Park, a modern chemical manufacturing complex. Cellulosic polymer Natrosol is used as an additive in a variety of industrial and consumer products, such as latex paints, paper coatings, and personal care items.

Ashland Mulls Bolt- On Acquisitions

Ashland Inc. (NYSE:ASH) continues to be interested in bolt-on acquisitions in its specialty ingredients business, Jim O'Brien, Chief Executive Officer of the company said.

Ashland Inc. Reports Preliminary Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year 2014

Ashland Inc. reported preliminary unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported sales of USD 1,605 million compared to USD 1,624 million a year ago. Operating income was USD 143 million compared to USD 175 million a year ago. Income from continuing operations before income taxes was USD 99 million compared to USD 123 million a year ago. Income from continuing operations was USD 71 million compared to USD 89 million a year ago. Net income was USD 99 million compared to USD 124 million a year ago. Diluted earnings from continuing operations per share were USD 0.90 compared to USD 1.12 a year ago. Diluted earnings per share were USD 1.25 compared to USD 1.55 a year ago. Cash flows provided by operating activities from continuing operations were USD 211 million compared USD 194 million a year ago. EBITDA was USD 257 million compared to USD 298 million a year ago. Adjusted EBITDA was USD 298 million compared to USD 273 million a year ago. Adjusted EPS from continuing operations was USD 1.63 per share compared to USD 1.31 per share a year ago. Capital spending totaled USD 56 million for the quarter. For the nine months, the company reported sales of USD 4,583 million compared to USD 4,621 million a year ago. Operating income was USD 222 million compared to USD 506 million a year ago. Income from continuing operations before income taxes was USD 101 million compared to USD 273 million a year ago. Income from continuing operations was USD 98 million compared to USD 218 million a year ago. Net income was USD 165 million compared to USD 278 million a year ago. Diluted earnings from continuing operations per share were USD 1.24 compared to USD 2.72 a year ago. Diluted earnings per share were USD 2.09 compared to USD 3.47 a year ago. Cash flows provided by operating activities were USD 404 million compared USD 397 million a year ago. Additions to property, plant and equipment was USD 152 million compared to USD 155 million a year ago. The company provided earnings guidance for the fourth quarter and full year 2014. For the quarter, the company expected effective tax rate to be in the range of 26% to 27%. For the full year, the company continues to expect its effective tax rate to be approximately 21%. The company expected capital expenditure remains at USD 245 million. Free cash flow estimate of USD 300-USD 350 million. This excludes USD 40 million to USD 50 million of restructuring-related cash costs.

Ashland To Retain Valvoline Business

Ashland Inc. (NYSE:ASH) decided to retain the Valvoline business after conducting a full review of the potential separation. The Board of Directors decided to retain Valvoline in the portfolio and the decision was supported by a detailed analysis conducted by advisors and Ashland management. The Board will continue to review Ashland's portfolio in order to best position the company for value creation in the future.

 

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ASH

Industry Average

Valuation ASH Industry Range
Price/Earnings 15.1x
Price/Sales 1.1x
Price/Book 1.8x
Price/Cash Flow 14.5x
TEV/Sales 0.6x
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