Ashland Global Slips To Loss In Q2

(RTTNews) - Ashland Global Holdings Inc. (ASH) reported that its second-quarter net loss was $582 million or $9.61 per share compared to net income of $76 million or $1.19 per share in the prior-year quarter, hurt primarily by the previously-disclosed non-cash goodwill impairment charge following the business unit realignment that occurred during the quarter.

Adjusted income from continuing operations was $52 million or $0.84 per share, up from $0.83 in the prior-year quarter. Adjusted income from continuing operations excluding intangibles amortization expense was $69 million, consistent with the prior-year quarter, or $1.12 per share, up from $1.08 in the prior-year quarter.

Sales for the quarter declined to $610 million from $667 million in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share and revenues of $618.76 million. Analysts' estimates typically exclude special items.