Ashland Net Income Rises on Higher Pricing, ISP Acquisition (update)

Ashland’s fiscal third-quarter net income more than doubled from the year-ago period, to $160 million, or $2/share, on the impact of the ISP acquisition. Sales were down 2%, to $2.1 billion. Adjusted earnings of $2.04/share beat analysts’ consensus of $1.74/share, as reported by Thomson Reuters (New York).  Adjusted pro forma Ebitda, which includes ISP's results in the current and year-ago quarters, was $381 million, up 24% from the year-ago period. The improvement in earnings “were primarily driven by strong pricing discipline, with three...

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