Ashland Third-Quarter Sales Increase by 19% Compared to Prior Period
Ashland Global Holdings Inc. recently announced financial results for the third quarter of fiscal year 2022. Sales for the quarter were $644 million, up 19% from the prior-year period. Ashland reports that each of the company’s reportable segments achieved double-digit sales growth compared to the prior year.
Net income was $36 million compared to $80 million in the prior-year quarter, and income from continuing operations was $51 million compared to $72 million in the prior-year quarter, or $0.93 per diluted share compared to $1.17 in the prior-year quarter. Adjusted income from continuing operations excluding intangibles amortization expense was $104 million compared to $60 million in the prior-year quarter, or $1.89 per diluted share, up from $0.98 in the prior-year quarter.