Steel Dynamics (STLD) Third Quarter Earnings and Sales Estimates - October 21, 2022

Ashland (ASH) fourth-quarter profit forecast, revenue lag – November 11, 2022

Ashland World Holdings Inc. (ash Free Report) reported earnings from persevering with operations of $60 million, or $1.09 per share, within the fourth quarter of fiscal 2022 (ended September 30, 2022), up from $33 million, or 55 cents, within the prior 12 months quarter.

Excluding one-time gadgets, adjusted earnings got here in at $1.46 per share, up from final 12 months’s quarter determine of $1.22. It topped the Zacks Consensus estimate of $1.39.

Gross sales elevated 7% 12 months over 12 months to $631 million. She missed the Zacks Consensus estimate of $636.1 million. The primary driver behind the earnings was disciplined pricing actions which led to a price restoration in a excessive inflation setting in addition to a greater product combine, offset partially by unfavorable forex fluctuations. The corporate noticed gross sales development throughout its segments within the quarter.

Sector highlights

Life science: Gross sales on this section elevated 13% year-over-year to $213 million within the cited quarter, supported by double-digit development in pharmaceutical clients reflecting a greater mixture of merchandise, value restoration and robust demand.

Private care: Gross sales within the division elevated 3% year-over-year to $188 million. Gross sales have been supported by sturdy demand, disciplined costs and a greater combine, which was partially offset by an unfavorable forex translation.

Particular Extras: Gross sales on this section elevated 3% year-over-year to $187 million, buoyed by restoration in inflation, combined enhancements and robust demand.

Brokers: Gross sales on this section elevated 7% year-over-year to $64 million, pushed by increased industrial market costs and an improved combine.

Fiscal Outcomes 2022

Earnings from persevering with operations (as reported) or full fiscal 12 months 2022 was $3.20 per share, in comparison with $2.82 per share a 12 months in the past. Income was $2.4 billion for the fiscal 12 months, up about 13% 12 months over 12 months.

Finance

Money and money equivalents have been $646 million on the finish of the quarter, up roughly 208% 12 months over 12 months. Lengthy-term debt was $1,270 million, down about 20% 12 months over 12 months.

Money move from working actions was $179 million within the cited quarter, a rise of roughly 19% 12 months over 12 months.

prospects

Ashland expects gross sales within the vary of $2.5 to $2.7 billion for fiscal 12 months 2023. It additionally forecasts adjusted EBITDA between $600 million and $650 million for the fiscal 12 months.

worth efficiency

Ashland shares gained 7.1% final 12 months in comparison with a 32.4% decline in industry.


Picture supply: Zacks Funding Analysis

Zacks order and key choice

Ashland at present holds Zacks at No. 3 (Maintain).

Embody top-rated shares value learning within the core topic space Albemarle Firm (ALB free report), Metallic Buying and selling Firm (CMC free report) and Al-Etimad Metal and Aluminum Firm (RS free report).

Albemarle, which at present holds Zacks No. 2 (purchase), has an anticipated earnings development charge of 420.3% for the present 12 months. Zacks’ consensus estimate of ALB earnings for the present 12 months was revised up 5.8% prior to now 60 days. you possibly can see The full list of Zacks #1 stocks (strong buy) today is here.

Albemarle’s earnings beat Zacks’ consensus estimate in every of the final 4 quarters. It has a delayed quarterly earnings shock of about 24.2% on common. ALB gained about 18% in a 12 months.

Buying and selling Metals at present holds a Zacks #2 score. The Zacks consensus estimate of CMC’s earnings for the present 12 months has been revised up 3.8%, up prior to now 60 days.

Business Metals’ earnings have outpaced Zacks Consensus’s estimate in every of the final 4 quarters. It has a delayed quarterly earnings shock of round 19.7% on common. CMC gained about 38% in a 12 months.

Reliance Metal, which at present holds Zacks at quantity two, has an anticipated earnings development charge of 29.7% for the present 12 months. The Zacks consensus estimate for RS earnings for the present 12 months was revised up 0.1% prior to now 60 days.

Reliance Metal’s earnings have outpaced the Zacks consensus estimate in every of the final 4 quarters. It has a delayed quarterly earnings shock of about 13.6% on common. RS gained about 25% in a 12 months.


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