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Ashland beats estimates despite lower sales, confirms water treatment sale

9:50 AM MST | November 5, 2013 | Vincent Valk

Ashland today reported fiscal fourth-quarter net income from continuing operations of $404 million, or $5.13/share, compared with a $272-million net loss in the year-ago quarter. One-time gains, particularly an actuarial gain on pensions, added $283 million, or $3.59/share, to fourth-quarter results. Excluding these gains, adjusted earnings totaled $1.54/share, beating analysts’ consensus estimate of $1.50/share, as reported by Thomson Reuters. Sales declined 7% year-on-year (YOY), to $1.9 billion. Ashland’s fiscal fourth-quarter ended on 30...

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