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Ashland Posts Earnings Gain, Beats Estimates
3:35 PM MDT | October 28, 2009 | Nancy Seewald
Ashland reported preliminary net earnings of $93 million in its fiscal fourth quarter ended September 30, compared with a net loss of $10 million in the same period last year. On an adjusted, pro-forma basis, which includes Hercules’ results in each period, sales fell 25%, to $2.1 billion, and Ebitda rose 37%, to $224 million. Earnings of $1.22/share beat the consensus of analysts’ estimates of 90 cts/share, as reported by Thomson Reuters (New York). Adjusted, pro-forma Ebitda in Ashland Aqualon Functional Ingredients fell 16%, to $56 million. The...
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