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