Published on 11 Nov 2022 on Zacks via Yahoo Finance
Ashland's (ASH) Earnings Beat Estimates in Q4, Revenues Lag
Ashland Global Holdings Inc. ASH recorded profits from continuing operations of $60 million or $1.09 per share in the fourth quarter of fiscal 2022 (ending Sep 30, 2022), up from $33 million or 55 cents in the prior-year quarter.Barring one-time items, adjusted earnings came in at $1.46 per share, up from the year-ago quarter’s figure of $1.22. It topped the Zacks Consensus Estimate of $1.39.Sales rose around 7% year over year to $631 million. It missed the Zacks Consensus Estimate of $636.1 million. The top line was driven mainly by disciplined pricing actions leading to a recovery in costs in a high-inflation environment as well as better product mix, partly offset by unfavorable currency swings. The company witnessed sales growth across its segments in the quarter.
Ashland Inc. Price, Consensus and EPS Surprise