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Ashland Global Turns To Profit In Q2

Ashland Global Holdings Inc. (ASH) reported that its second-quarter net income was $41 million or $0.66 per share compared to a net loss of $582 million or $9.61 per share in the prior-year quarter which included the impact of a non-cash goodwill impairment charge.

Adjusted income from continuing operations, excluding intangibles amortization expense , was $1.05 per share, down from $1.12 in the prior-year quarter.

Sales were about $598 million, down two percent compared to the prior-year period, reflecting the combined effect of these dynamics.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.29 per share and revenues of $635.66 million. Analysts' estimates typically exclude special items.

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