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Ashland reports flat sales, announces restructuring

4:21 PM MST | January 27, 2014 | Lindsay Frost

Ashland posted net income from continuing operations of $111 million for the quarter ended 31 December—up 9% year-over-year (YOY) on higher volumes in each of its units. Earnings per share of $1.40/share were up YOY and over analyst estimates of $1.31/share, according to Thomson Reuters (New York). Sales were flat at $1.9 billion. "We were encouraged by our overall financial performance in the quarter, which is Ashland's seasonally weakest period. While overall sales were flat due to lower pricing in some of our more commoditized businesses, each of...

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