WILMINGTON, Del., June 18, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE:ASH) has strengthened its performance  towards environmental, social and governance (ESG) practices and a more just and equitable society through  a relationship with the Fair Wage Network (FWN) to understand living wages for the company’s 3,800 global employees. Following a rigorous and thorough process where compensation data for all employees was reviewed on an anonymous basis and steps were taken to remediate any pay gaps, Ashland ac ...

WILMINGTON, Del., June 04, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE:ASH) announced today that Alessandra Faccin will join the company as senior vice president and general manager, Life Sciences, effective June 10, 2024. Faccin will report to Guillermo Novo, chair and chief executive officer, Ashland. Most recently Faccin was president of Sealed Air Corporation, Asia Pacific.  She has more than 20 years of experience in global industrial and manufacturing industries with a broad financial background and d ...

It has been about a month since the last earnings report for Ashland (ASH) . Shares have added about 4% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Ashland due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Ashland's Earnings & Revenues Surpass Estimates in Q2A ...

Core Viewpoint - The S&P 500 is nearing 52-week and all-time highs, up nearly 12% year-to-date, making it a favorable environment for investors seeking breakout stocks [1] Group 1: Breakout Stock Candidates - Boot Barn Holdings (BOOT) has increased by 54% over the past year, currently trading at a 52-week high of $115.97, with a market cap of $3.3 billion and 12 of 14 analysts rating it a Buy with a target price of $116 [2][3] - Essential Properties Realty Trust (EPRT) is up 10.7% over the past year, trading above 98% of its 52-week high of $27.70, with a market cap of $4.8 billion and 11 of 13 analysts rating it a Buy with a target price of $28.46 [5][6] - Ashland (ASH) has risen 8.6% over the past year, trading at almost 99% of its 52-week high of $99.55, with a market cap of $4.9 billion and 9 of 12 analysts rating it a Buy with a target price of $110 [7][8] Group 2: Company Financials and Operations - Boot Barn's sales rose 0.6% to $1.67 billion for the year, with an expected sales growth of 4.0% to 6.1% in Q1 2025, although its operating margin fell by 200 basis points to 11.9% [2][3] - Essential Properties Realty Trust has a high occupancy rate of 99.9% across 1,937 properties leased to 383 tenants, with the top three industries by revenue being car washes (15.1%), early childhood education (11.6%), and quick service restaurants (10.7%) [5][6] - Ashland's remaining businesses provide specialty additives and materials across various markets, and it trades at a valuation of 22.0x the estimated earnings of $4.46 per share for fiscal 2024 [8]

Group 1: Company Overview - Ashland Inc. announced an agreement to sell its nutraceuticals business to Turnspire Capital Partners LLC, with the deal expected to close in the third quarter of 2024, pending standard closing conditions [1] - The nutraceuticals business provides a range of active ingredients and formulation aids, along with custom formulation and contract manufacturing services, operating from four production sites in the U.S. and Mexico [1] Group 2: Financial Performance - In the second quarter of fiscal 2024, Ashland reported profits of $120 million or $2.39 per share, with adjusted earnings per share dropping to $1.27 from $1.43 year-over-year [2] - Sales for the quarter totaled $575 million, reflecting a 4.6% decline year-over-year primarily due to lower pricing [2] - For the fiscal third quarter, Ashland projects sales between $560 and $580 million and anticipates adjusted EBITDA in the range of $138-$148 million [2] - The company forecasts full fiscal year sales between $2,150 million and $2,225 million, with adjusted EBITDA expected to be between $470 million and $500 million [2] Group 3: Stock Performance - Ashland's shares have increased by 10.5% over the past year, contrasting with a 10.2% decline in the industry [2] - The company currently holds a Zacks Rank 3 (Hold) [3]

Core Insights - Ashland Inc. has appointed Ashish K. Kulkarni to its Board of Directors, effective May 6, 2024, to enhance its leadership in technology and innovation [1][2][3] - The Board size has increased to 11 members in anticipation of potential retirements, reflecting a proactive approach to governance [2] Group 1: Appointment Details - Ashish K. Kulkarni is the CEO of Kebotix, a startup focused on AI methods for new material commercialization, and has held significant roles in major companies like GAF, Avantor, and Celanese [1][2] - Kulkarni will serve on the Board's Environmental, Health, Safety and Quality, and Compensation Committees, bringing extensive experience in building innovation cultures [1][2] Group 2: Strategic Implications - The addition of Kulkarni is expected to provide unique perspectives that will aid Ashland in executing its strategy for portfolio growth and scalable advancements [3] - The company emphasizes its commitment to innovation and customer loyalty, aiming for increased market share and profitability through enhanced leadership [2][3] Group 3: Company Overview - Ashland Inc. operates as a global additives and specialty ingredients company, serving diverse markets including construction, energy, and pharmaceuticals [4] - The company employs approximately 3,800 professionals dedicated to developing innovative solutions for complex customer challenges across more than 100 countries [4]

Core Insights - Zacks Premium provides tools for investors to enhance their stock market strategies, including daily updates on Zacks Rank and Style Scores [1][4] - The Zacks Style Scores categorize stocks into Value, Growth, Momentum, and VGM Scores, helping investors identify stocks with the best potential for market outperformance [2][3] Zacks Style Scores - **Value Score**: Focuses on identifying undervalued stocks using financial ratios like P/E and Price/Sales [2] - **Growth Score**: Evaluates a company's financial health and future growth potential based on earnings and sales projections [2] - **Momentum Score**: Assesses stocks based on price trends and earnings estimate changes to identify favorable buying opportunities [2] - **VGM Score**: Combines the three Style Scores to highlight stocks with attractive value, growth, and momentum characteristics [3] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in stock selection, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988 [4] - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal returns [5] Company Spotlight: Ashland Global Holdings Inc. (ASH) - Ashland is a leading specialty chemicals company with a diverse portfolio serving various markets, including automotive and pharmaceuticals [6] - ASH currently holds a Zacks Rank of 3 (Hold) and a VGM Score of B, with a Momentum Style Score of A [6] - The stock has seen a 1.1% increase over the past four weeks, and earnings estimates for fiscal 2024 have been revised upwards by four analysts, increasing the consensus estimate by $0.14 to $4.47 per share [6][7]

Company Overview - Ashland (ASH) is currently ranked 2 in the Zacks Sector Rank for Basic Materials, indicating strong performance relative to its peers [1] - The Zacks Rank system highlights stocks with favorable earnings estimates and revisions, with Ashland holding a Zacks Rank of 2 (Buy) [1] Earnings Performance - The Zacks Consensus Estimate for Ashland's full-year earnings has increased by 5.2% in the past quarter, reflecting improved analyst sentiment [2] - Year-to-date, Ashland's stock has gained approximately 13.7%, while the average loss for Basic Materials stocks is 2.5%, showcasing Ashland's outperformance [2] Industry Comparison - Ashland is part of the Chemical - Specialty industry, which has seen an average loss of 21.4% this year, further emphasizing Ashland's strong performance [3] - In contrast, Buenaventura (BVN), another outperforming stock in the Basic Materials sector, belongs to the Mining - Silver industry, which has gained 10.2% this year [3]

Core Insights - Ashland Global Holdings Inc. reported second-quarter fiscal 2024 profits of $120 million or $2.39 per share, an increase from $91 million or $1.67 in the prior-year quarter. Adjusted earnings were $1.27 per share, down from $1.43 year-over-year, but exceeded the Zacks Consensus Estimate of $1.19 [1] - Sales decreased by 4.6% year-over-year to $575 million, slightly surpassing the Zacks Consensus Estimate of $574.2 million, primarily due to softer pricing [1] Segment Highlights - **Life Sciences**: Sales fell 7.5% year-over-year to $222 million, below the Zacks Consensus Estimate of $238.1 million. Nutrition end market volumes showed modest growth but were lower than the previous year [2] - **Personal Care**: Sales increased by 1.2% year-over-year to $169 million, exceeding the Zacks Consensus Estimate of $159.3 million, driven by higher volumes in skin care, oral care, and hair care [2] - **Specialty Additives**: Sales declined 2.5% year-over-year to $157 million, surpassing the Zacks Consensus Estimate of $149.5 million, with higher volumes in coatings offset by lower pricing [3] - **Intermediates**: Sales dropped 21.5% year-over-year to $40 million, slightly beating the consensus estimate of $39 million, primarily due to lower prices [3] Financials - Cash and cash equivalents were $439 million at the end of the quarter, a 10% increase from the previous year. Long-term debt remained flat at $1,328 million [4] - Operating cash flows were $54 million, a slight decrease from $56 million in the prior-year quarter [4] Outlook - For the fiscal third quarter, Ashland expects sales to be in the range of $560-$580 million and adjusted EBITDA to be between $138-$148 million. For the full fiscal year, sales are projected to be $2,150-$2,225 million with adjusted EBITDA of $470-$500 million [5] Price Performance - Ashland's shares have increased by 4.7% over the past year, contrasting with a 9.3% decline in the industry [6]

Group 1 - Ashland reported earnings of $1.27 per share on revenue of $575 million for its fiscal second quarter, exceeding Wall Street's earnings estimate of $1.14 per share [2] - Revenue decreased by 5% year over year, with positive trends in personal care and specialty additives, while life sciences ingredient volumes were lighter [2] - The company narrowed its full-year revenue guidance to a range of $2.15 billion to $2.23 billion, down from $2.15 billion to $2.25 billion [2] Group 2 - Ashland forecasts flat to slightly increased demand in 2024, indicating signs of normalization after pandemic-related disruptions [3] - The company is focusing on higher-end products and has announced the closure of a production unit in Belgium, which will lead to volume declines but is aimed at reducing exposure to lower-margin markets [3] - Ashland's stock is trading at levels similar to three years ago, with potential for growth if end markets normalize as anticipated [3]