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ASHLAND INC. [ASH] has reported $178M profit for Q4 2023 ended Q3.
ASHLAND INC. [ASH] has reported $178 profit for Q4 2023 ended Q3.
The WILMINGTON, Delaware based company recorded net profit of $172M on operating income of 172. Earnings per share rose to 3.31.
According to the Balance Sheet data, the total assets of the company decreased from $6,213 million in September 2022 to $5,939 million in September 2023. This decline in total assets can be attributed to a decrease in both current and noncurrent assets. The total liabilities also decreased from $2,440 million to $2,386 million over the same period. This reduction in liabilities indicates improved financial health for the company. Additionally, the total stockholders' equity decreased from $3,220 million to $3,097 million, primarily due to a decrease in retained earnings and accumulated other comprehensive loss. Overall, the company's balance sheet shows a slight decline in both assets and liabilities, indicating potential changes in its financial position.
In the 12 months ending September 30, 2023, the company's sales were $2,191 million, a decrease from $2,391 million in the same period in 2022. The cost of sales also decreased from $1,561 million to $1,523 million. As a result, the gross profit decreased from $830 million to $668 million. Selling, general, and administrative expenses were $365 million, slightly lower than the $393 million in the previous year. Research and development expenses remained relatively stable at $51 million. Intangibles amortization expense increased slightly from $94 million to $93 million.