Ashland Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2016; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2017
January 27, 2017 at 03:35 am IST
Share
Ashland Inc. announced unaudited consolidated earnings results for the first quarter ended December 31, 2016. For the quarter, the company reported sales were $1,193 million compared to $1,163 million a year ago. Operating income was $137 million compared to $151 million a year ago. Income from continuing operations before income taxes was $4 million compared to $111 million a year ago. Income from continuing operations was $10 million compared to $91 million a year ago. Net loss attributable to company was $1 million or $0.01 diluted per share compared to net income attributable to company of $89 million or $1.35 diluted per share a year ago. Total cash provided by operating activities from continuing operations was $12 million compared to $66 million a year ago. Additions to property, plant and equipment was $43 million compared to $53 million a year ago. EBITDA was $213 million compared to $232 million a year ago. Adjusted EBITDA was $215 million compared to $247 million a year ago. Adjusted EPS from continuing operations was $1.41 compared to $1.46 a year ago.
For the second quarter of fiscal 2017, on a consolidated basis and including Valvoline, the effective tax rate is expected to be approximately 28% to 29%.
For the fiscal 2017, excluding Valvoline, the company expects an adjusted effective tax rate of 10% to 15%, reflecting company's global footprint.
Ashland Inc. is a global specialty additives and materials company. The Company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, nutraceuticals, personal care, and pharmaceutical. The Company's segments include life sciences, personal care, specialty additives and intermediates. The life sciences segment is comprised of pharmaceuticals, nutrition, nutraceuticals, agricultural chemicals, diagnostic films and fine chemicals. The personal care segment is comprised of bio functionals, microbial protectants (preservatives), skin care, sun care, oral care, hair care and household solutions. The specialty additives segment is comprised of rheology and additives serving the architectural coatings, construction, energy, automotive and various industrial markets. Its Intermediates segment is comprised of the production of 1,4 butanediol (BDO) and related derivatives, including n-methyl pyrrolidone.
Ashland Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2016; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2017