Financial Performance - Sales for Q3 fiscal 2024 were $544 million, a slight decrease from $546 million in the prior-year quarter[2]. - Net income was $6 million, down from $50 million in the prior-year quarter, with income from continuing operations at $31 million, down from $42 million[3]. - Adjusted EBITDA was $139 million, up 5% from $133 million in the prior-year quarter, driven by higher sales and production volumes[3]. - Cash flows from operating activities totaled $128 million, down from $137 million in the prior-year quarter, while ongoing free cash flow was $112 million, up from $97 million[4]. - Year-over-year sales volume growth for Q4 is expected to be mid-single-digit, partially offset by low-single-digit pricing declines[16]. - Ashland reported sales of $544 million for the three months ended June 30, 2024, a slight decrease of 0.4% compared to $546 million for the same period in 2023[35]. - Gross profit for the same period increased to $186 million, up 4.5% from $178 million year-over-year[35]. - Operating loss for the three months ended June 30, 2024, was $(61) million, compared to an operating income of $62 million in the prior year[35]. - Net income for the three months ended June 30, 2024, was $6 million, a significant decrease from $50 million in the same period last year[35]. - Diluted earnings per share from continuing operations decreased to $0.60, down from $0.79 in the prior year[35]. - Adjusted EBITDA for the three months ended June 30, 2024, was $139 million, a slight increase of 4.5% from $133 million in the same period last year[44]. - Free cash flows for the three months ended June 2024 were $99 million, compared to $93 million for the same period in 2023, representing a 6.5% increase[51]. - Adjusted EBITDA for the nine months ended June 2024 was $336 million, compared to $385 million for the same period in 2023, reflecting a decrease of approximately 12.7%[52]. Segment Performance - Life Sciences segment sales were $195 million, down 11% year-over-year, primarily due to weaker demand in vinyl pyrrolidone and derivatives[9]. - Personal Care segment sales increased by 20% to $175 million, driven by higher volumes in skin care and hair care[10]. - Specialty Additives segment sales were $150 million, down 1% from the prior-year quarter, impacted by lower pricing in Asia[11]. - Operating income for the Life Sciences segment was $43 million, down from $49 million in the same period last year[46]. - The Specialty Additives segment reported an operating income of $10 million, an increase from $5 million in the prior year[46]. Cash Flow and Assets - Total cash flows provided by operating activities from continuing operations were $128 million, down from $137 million in the prior year[41]. - Cash and cash equivalents at the end of the period were $399 million, compared to $349 million at the end of the same period last year[41]. - Total assets as of June 30, 2024, were $5,747 million, a decrease from $5,939 million as of September 30, 2023[38]. - Current assets decreased to $1,385 million from $1,506 million in the previous period[38]. - Long-term debt increased slightly to $1,325 million from $1,314 million[38]. Strategic Initiatives - Ashland announced the signing of a definitive agreement to sell its nutraceuticals business, expected to close in Q3 2024[15]. - The company anticipates future growth opportunities and is focused on portfolio optimization activities[29]. - The company expects Q4 sales in the range of $530 million to $540 million and adjusted EBITDA between $130 million and $140 million[17]. - The company expects continued focus on operational efficiency and strategic investments in key growth areas moving forward[44]. Impairments and Adjustments - The company incurred a loss of $99 million related to the impairment of nutraceutical assets[46]. - Key items before tax included a nutraceutical impairment of $99 million for the three months ended June 2024[52]. - Environmental reserve adjustments amounted to $35 million for the three months ended June 2024, compared to $19 million in the same period of 2023[52]. - Total key items after tax for the three months ended June 2024 were $135 million, compared to $8 million in the same period of 2023, indicating a significant increase[55]. - The company reported a nutraceutical impairment of $1.94 for the three months ended June 30, 2024[59]. - Environmental reserve adjustments amounted to $0.69 for the three months ended June 30, 2024, compared to $0.36 in 2023[59]. Earnings Per Share - Diluted EPS from continuing operations for the three months ended June 30, 2024, was $0.60, down from $0.79 in the same period of 2023[59]. - Adjusted diluted EPS from continuing operations (non-GAAP) for the three months ended June 30, 2024, was $1.18, compared to $0.87 in 2023, reflecting a 35.6% increase[59]. - Adjusted diluted EPS from continuing operations excluding amortization expense for the three months ended June 30, 2024, was $1.49, up from $1.23 in 2023[59].

Sales of $544 millionNet income (including discontinued operations) of $6 million, or $0.12 per diluted shareIncome from continuing operations of $31 million, or $0.60 per diluted shareAdjusted income from continuing operations excluding intangibles amortization expense of $75 million, or $1.49 per diluted shareAdjusted EBITDA of $139 million, up five percent from the prior-year quarterCash flows provided by operating activities of $128 million; ongoing free cash flow2 of $112 millionRepurchased 1.3 million ...

Sales of $544 millionNet income (including discontinued operations) of $6 million, or $0.12 per diluted shareIncome from continuing operations of $31 million, or $0.60 per diluted shareAdjusted income from continuing operations excluding intangibles amortization expense of $75 million, or $1.49 per diluted shareAdjusted EBITDA of $139 million, up five percent from the prior-year quarterCash flows provided by operating activities of $128 million; ongoing free cash flow2 of $112 millionRepurchased 1.3 million ...

Investors might want to bet on Ashland (ASH) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of a cha ...

Core Insights - Ashland (ASH) and Novozymes A/S (NVZMY) are both considered for investment in the Chemical - Specialty sector, with a focus on identifying which stock offers better value opportunities [1] Valuation Metrics - ASH has a forward P/E ratio of 21.12, while NVZMY has a higher forward P/E of 33.83 [2] - ASH's PEG ratio is 0.93, indicating a more favorable valuation compared to NVZMY's PEG ratio of 3.47 [2] - ASH's P/B ratio stands at 1.54, significantly lower than NVZMY's P/B ratio of 13.80 [2] Value Grades - ASH has received a Value grade of B, whereas NVZMY has been assigned a Value grade of F, indicating ASH is currently viewed as the superior value option [3]

Core Viewpoint - Investors in the Chemical - Specialty sector should consider Ashland (ASH) and Novozymes A/S (NVZMY) as potential value stocks, with ASH currently presenting a more favorable valuation based on key metrics [1][3]. Valuation Metrics - ASH has a forward P/E ratio of 20.82, while NVZMY has a significantly higher forward P/E of 33.53 [2]. - ASH's PEG ratio is 0.91, indicating a more attractive valuation relative to its expected earnings growth, compared to NVZMY's PEG ratio of 3.44 [2]. - ASH's P/B ratio stands at 1.52, which is considerably lower than NVZMY's P/B ratio of 13.68, suggesting ASH is undervalued relative to its book value [3]. Investment Outlook - Both ASH and NVZMY have a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and an improving earnings outlook for both companies [1]. - ASH holds a Value grade of B, while NVZMY has a Value grade of F, reinforcing ASH as the superior value option based on current valuation figures [3].

Group 1 - Aris Mining Corporation (ARMN) has gained approximately 31.5% year-to-date, outperforming the Basic Materials sector, which has returned an average of -1.1% [2] - The Zacks Consensus Estimate for ARMN's full-year earnings has increased by 5.4% over the past quarter, indicating stronger analyst sentiment and an improving earnings outlook [2] - Aris Mining Corporation currently holds a Zacks Rank of 2 (Buy), suggesting it has favorable characteristics to outperform the market in the near term [1] Group 2 - Aris Mining Corporation is part of the Mining - Gold industry, which includes 37 stocks and has an average year-to-date gain of 23.4%, indicating ARMN's strong performance relative to its industry [3] - In contrast, the Chemical - Specialty industry, which includes Ashland (ASH), has seen a year-to-date decline of -17.7%, highlighting the relative strength of ARMN [3] - Investors interested in Basic Materials stocks should monitor both Aris Mining Corporation and Ashland for potential continued solid performance [3]

WILMINGTON, Del., July 17, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today announced plans to issue its third-quarter earnings release at approximately 5 p.m. ET on Tuesday, August 6, 2024. The company's live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 10 a.m. ET on Wednesday, August 7. Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland. ...

WILMINGTON, Del., July 17, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today announced plans to issue its third-quarter earnings release at approximately 5 p.m. ET on Tuesday, August 6, 2024. The company’s live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 10 a.m. ET on Wednesday, August 7. Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland. ...

Company Announcement - Ashland Inc. announced the appointment of Omar Irani as vice president of strategy, mergers and acquisitions, and portfolio management, effective July 22, 2024 [1] - Irani will report directly to Guillermo Novo, the chair and CEO of Ashland [1] Leadership Experience - Irani brings extensive experience in strategy, profit improvement, and commercial excellence, including organization design, product management, demand management, and customer service [1] - He has a strong background in regulatory negotiations, lobbying, and crisis management [1] - Prior to joining Ashland, Irani held leadership roles at SI Group, National Refrigerants, Honeywell, and ILC Dover, focusing on rubber additives, life sciences, and industrial chemicals [1] Educational Background - Irani holds a Master of Business Administration in Finance and a Bachelor of Arts in Biological Sciences from Rutgers University [2] Company Overview - Ashland Inc. is a global additives and specialty ingredients company with a focus on environmental, social, and governance (ESG) initiatives [3] - The company serves a diverse range of markets, including architectural coatings, construction, energy, food and beverage, nutraceuticals, personal care, and pharmaceuticals [3] - Ashland employs approximately 3,800 professionals, including scientists, research chemists, engineers, and plant operators, who work on innovative solutions for customers in over 100 countries [3]