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Ashland earnings fall, but adjusted earnings beat estimates

4:10 PM MDT | July 31, 2014 | Vincent Valk

Ashland today reported fiscal third-quarter earnings from continuing operations down 20% year-on-year (YOY), to $71 million, or 90 cts/share, on sales down 1%, to $1.6 billion. Adjusted earnings from continuing operations – which exclude restructuring charges, pension adjustments, and other special items – totaled $1.63/share, up 24% YOY, and ahead of analysts’ consensus estimate of $1.57/share, as reported by Thomson Reuters (New York). Ashland has classified its water technologies business, which is being sold to private equity firm Clayton...

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