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Ashland Explores Potential Sale, Shares Up 5%
Ashland (ASH) is exploring a potential sale after receiving takeover interest, Ryan Gould, Liana Baker, Kiel Porter and Mengqi Sun of Bloomberg report, citing people familiar with the matter. The company is working with Citi (C) and Lazard (LAZ) as it engages with both strategic and financial suitors, sources told Bloomberg. Private equity firms Advent, Apollo Global (APO) and Carlyle Group (CG) are among those that have had contact with Ashland, while Standard Industries, which is among the company's largest shareholders, is also interested, the people said. Shares of Ashland are up 5% to $76.45 following the report.
Ashland Shares Rise 4% to $75.69 on Takeover Interest Report
Ashland jumps 4% to $75.69 after Bloomberg report of takeover interest
Ashland Exploring Sale After Takeover Interest, Bloomberg Reports
Ashland exploring sale after takeover interest, Bloomberg reports
Ashland Reaffirms FY26 Adjusted EBITDA Expectation of $385M-$400M
Reaffirms FY26 Adjusted EBITDA $385M-$400M; a Adjusted Diluted EPS excluding intangibles amortization low-to-mid single-digit growth; and ongoing free cash flow conversion greater than 50% of Adjusted EBITDA with capital expenditures of approximately $90M. "As we look ahead, our full year expectations reflect the underlying strength of our portfolio and the momentum we are seeing across the business," concluded Guillermo Novo, chair and chief executive officer, Ashland. "Our globalize and innovate strategies continue to exceed expectations, demand remains resilient in our core franchise, and our teams are executing well against our innovative Technology Platforms and other priorities that support long term value creation. We expect continued sequential improvement in the fourth quarter as operational performance steadily improves. Combined with strong cash generation and disciplined execution, these actions position Ashland to carry improving earnings momentum into FY27."
Ashland Reports Q3 Revenue of $497M, Beating Expectations
Reports Q3 revenue $497M, consensus $485.98M. "Ashland's Q3 results reflected broad-based demand and strong commercial execution across the portfolio," said Guillermo Novo, chair and CEO, Ashland. "Sales increased seven percent year-over-year, with growth achieved across all business units and regions. Our teams continued to successfully recover higher raw material costs through pricing actions, preserving margins while maintaining strong customer relationships. Life Sciences delivered double-digit sales gains, benefiting from broad demand across pharma and continued progress from our globalize and innovate strategies. Personal Care generated another quarter of strong performance, led by momentum in biofunctional actives, high-single-digit growth in skin care, and favorable contributions from hair care and microbial protection. Specialty Additives benefited from continued growth in coatings and performance specialties driven by share gains and strong commercial momentum. In Intermediates, merchant sales increased, reflecting improving NMP demand for battery-related applications."
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