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January 29, 2013
13:50 EDTASHAshland trading lower after preliminary Q1 profits disappoint
Ashland (ASH) shares are trading lower after the company released preliminary Q1 EPS results that were weaker than analyst estimates. The specialty chemical maker reported preliminary Q1 adjusted ex-items EPS of $1.12, well below the analyst consensus of $1.39, and revenue of $1.9B, which met analyst expectations. Ashland CEO James J. O'Brien noted that Q1 is the company's seasonally weakest period of the year and that Q1 results reflect soft demand in some key markets and regions. He added that the results included $31M in losses on straight guar, primarily reflecting a discrete write-down of inventory to current market value as contributing to the Q1 disappointment. Ashland shares are trading down $5.98, or 6.99%, to $79.55 in early afternoon trading.
News For ASH From The Last 14 Days
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January 25, 2016
17:27 EDTASHAshland on schedule to complete separation
Ashland stated that the company remains on track to complete the separation consistent with its previously stated timeline. Last September, Ashland announced a plan to separate into two independent, publicly traded companies, one focused on specialty chemicals and the other focused on high-performance lubricants. Separation planning and key work streams are continuing, with the work being led by a project management team composed of business and resource group leaders from around the world.
17:25 EDTASHAshland sees Q2 Specialty Ingredients segment sales $515M-$535M vs. $476M in Q1
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17:20 EDTASHAshland reports Q1 preliminary adjusted EPS $1.41, consensus $1.39
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14:29 EDTASHNotable companies reporting after market close
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