Ashland reports preliminary financial results for third quarter of fiscal 2020 consistent with previous update
WILMINGTON, Del., July 28, 2020 (GLOBE NEWSWIRE) — Ashland Global Holdings Inc. (NYSE: ASH) today announced preliminary1 financial results for the third quarter of fiscal 2020 which ended June 30, 2020. The global specialty materials company serves customers in a wide range of consumer and industrial markets.
As expected, the Ashland portfolio demonstrated resilience during the quarter, despite the global macroeconomic uncertainty brought on by the COVID-19 pandemic. Sales were $574 million, down 10% versus the prior-year quarter, with the previously communicated prior-year business losses representing approximately one percentage point of the decline. Unfavorable foreign currency contributed an additional one percentage point. Net income was $37 million compared to net income of $66 million in the prior-year quarter, as the prior year included earnings from the Composites and Marl businesses. Income from continuing operations was $50 million compared to income of $23 million in the prior-year quarter, or $0.81 … Read More
Call scheduled for Wednesday, July 29, 2020 at 8:00 a.m. Eastern Time
Todd Adams, President and Chief Executive Officer, commented, “Our second quarter results demonstrate our ability to nimbly execute amid the unprecedented social and economic challenges created by COVID-19. It also highlights the benefits of the significant changes we’ve made to our business to drive above-market growth, strong margins and higher levels of free cash flow over the course of a business cycle, including one as extreme as the last six months. The trajectory of overall demand levels improved over the course of the quarter, but we continue to be cautious about the remainder of the year based on the current realities and potential range of outcomes due to the pandemic. Our focus over the next six months will be to relentlessly execute against our highest strategic priorities, including the third phase of our Supply Chain Optimization and Footprint … Read More
CAMBRIDGE, Mass., July 28, 2020 /PRNewswire/ — Akamai (NASDAQ: AKAM), the intelligent edge platform for securing and delivering digital experiences, today reported financial results for the second quarter ended June 30, 2020.
“Akamai’s outstanding top and bottom line results in the second quarter were powered by the strong growth of our Security and Media solutions and our continued operational excellence,” said Dr. Tom Leighton, Akamai’s chief executive officer. “Amidst the ongoing humanitarian crisis associated with COVID-19, we are proud to be supporting our customers – and billions of internet users – with exceptional services when they need them most.”
Akamai delivered the following financial results for the second quarter ended June 30, 2020:
Revenue: Revenue was $795 million, a 13% increase over second quarter 2019 revenue of $705 million and a 14% increase when adjusted for foreign exchange.*
Revenue by Division(1):
- Web Division revenue was
Reckitt Benckiser Group Plc said Covid-19 has prompted consumers and companies to make lasting improvements in their cleaning routines, boosting prospects for future sales of its disinfectants and sanitizers.
Lysol sales surged about 70% in the first half in North America, and professional demand has been so strong that the U.K. consumer-goods maker set up a business to meet demand from new clients including Hilton, Avis and Delta.
A new era of cleanliness has begun, according to the company. Once a consumer adopts new behaviors such as consistent and thorough hand washing for more than two months, the habits stick.
“Covid-19 is likely to be with us for the foreseeable future and, as a society, we are embedding new hygiene practices to protect our way of life,” Chief Executive Officer Laxman Narasimhan said.
Reckitt said Tuesday it expects the boom in its cleaning brands, which also include Sagrotan handgel, will
MEXICO CITY (Reuters) – Walmart’s Mexico unit reported a 10% jump in second quarter revenue compared with the year-earlier period on Thursday, helped by more grocery sales and online shopping amid stay-at-home measures meant to contain the coronavirus.
Still, Walmart de Mexico <WALMEX.MX>, the biggest retailer in Mexico, saw earnings before interest, tax, depreciation and amortization (EBITDA) fall 3.3% from last year to 15.73 billion pesos, despite analyst forecasts EBITDA would increase.
The retailer also posted 1.66 billion pesos ($72.4 million) in quarterly net profit, a huge year-on-year drop due to a 8.1 billion peso payment to Mexico’s tax authority (SAT) in May.
Chief Financial Officer Milton Brandt said the retailer had managed to contain other costs in its core Mexico market.
“Excluding the payment to the SAT, we were able to keep expense growth below total revenue growth, despite incurring higher operating costs given the measures taken to handle
HOBOKEN, NJ — Hoboken Mayor Ravi Bhalla said in an update on Tuesday afternoon that the mile-square city’s Health Department reported 12 new coronavirus cases from this past Friday through Sunday (four each day), and then none this past Monday and Tuesday. Hoboken, with 53,000 residents across the river from New York City, has had a total of 634 confirmed cases since March, and 29 deaths.
Bhalla said, “The majority of new COVID-19 cases reflect the trend across the rest of the country, with most under the age of 35. As always, the Health Department continues with diligent contact tracing on every confirmed case.”
He said, “In addition to the Health Department’s contact tracing, I ask all residents who test positive to follow up with your own contact tracing and urge anyone who may have been in contact with you to self-quarantine for a full 14 days and get tested
As the pandemic reached new highs in Florida and across the world, New York City provided a glimmer of hope: zero deaths for the first time in four months.
Total confirmed cases across the nation surpassed 3.3 million – about 1% of all Americans have now tested positive since the outbreak began racing across the nation just a few months ago. More than 135,000 Americans have died.
In Washington, President Donald Trump showed little faith in the U.S. Centers for Disease Control and Prevention, retweeting a social media post accusing the agency of “outrageous lies.”
In France, the wife of a bus driver who was beaten to death after he asked four passengers to wear face masks aboard his vehicle called Saturday for “exemplary punishment” for his killers. The bus driver had been hospitalized in critical condition after the July 5 attack, and his death was announced Friday.