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Ashland swings to loss on restructuring charges, adjusted earnings flat YOY

4:19 PM MDT | April 30, 2014 | Vincent Valk

Ashland today reported a net loss from continuing operations of $61 million, or 78 cts/share, compared with a net gain of $48 million in the year-ago quarter, on sales that were flat year-on-year (YOY), at $1.5 billion. The loss was related to a variety of charges, including restructuring charges and charges related to the divestiture of Ashland’s casting chemicals joint venture, which totaled $181 million. Excluding the charges, adjusted income from continuing operations totaled $120 million, or $1.53/share, flat YOY and still short of analysts’...

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