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People & Business :: Earnings/Finance
Inventory issues stunt Ashland's earnings, sales in weak quarter
12:12 PM MST | January 29, 2013 | Lindsay Frost
Though net income rose 65%, to $101 million year-on-year (YOY), Ashland earnings of $1.12 for the quarter ended 31 December 2012 fell below analyst estimates of $1.39/share, according to Thomson Reuters (New York). The company's shares were down 4.3%, to $81.89, in midday trading on 29 January. The company reported lower-than-expected operating income in its specialty ingredients segment, inventory problems with guar, and lower profits from its automotive lubricant sector, Valvoline, contributing greatly to the missed target. Sales dropped 4%, to $1.86...
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