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● Ashland always solving Ashland reports preliminary financial results¹ for second quarter of fiscal year 2021 Sales of $ 598 million , down two percent from the prior - year quarter Net income of $ 41 million , or $ 0.66 per diluted share ● News Release Income from continuing operations of $ 43 million , or $ 0.69 per diluted share Adjusted income from continuing operations excluding intangibles amortization expense of $ 64 million , or $ 1.05 per diluted share Adjusted EBITDA of $ 134 million Cash flows provided by operating activities of $ 64 million ; free cash flows of $ 40 million WILMINGTON , Del . , April 28 , 2021 - Ashland Global Holdings Inc. ( NYSE : ASH ) today announced preliminary¹ financial results for the second quarter of fiscal year 2021 , which ended March 31 , 2021 . The global specialty materials company serves customers in a wide range of consumer and industrial markets . Ashland's financial results during the quarter reflected execution of the company's strategy , the benefit of continued cost reduction and improving industrial demand . Results were negatively impacted by the weather - related events in the U.S. Gulf Coast and changing consumer habits as the global pandemic has persisted . Sales were approximately $ 598 million , down two percent compared to the prior - year period , reflecting the combined effect of these dynamics . Net income was $ 41 million compared to a net loss of $ 582 million in the prior - year quarter which included the impact of a non - cash goodwill impairment charge . Income from continuing operations was $ 43 million compared to a loss of $ 575 million in the prior - year quarter , or $ 0.69 per diluted share compared to a loss of $ 9.48 in the prior - year quarter . Adjusted income from continuing operations excluding intangibles amortization expense was $ 64 million compared to $ 69 million in the prior - year quarter , or $ 1.05 per diluted share , down from $ 1.12 in the prior - year quarter . Adjusted EBITDA was $ 134 million , down from $ 142 million in the prior - year quarter , driven primarily by weather - related impacts following the winter storms in the U.S. Gulf Coast and higher - than - expected environmental reserves . Ashland's two Texas - based facilities were shut down during the quarter for a period following the winter storms in the U.S. Gulf Coast . Weather - related impacts during the quarter totaled approximately $ 11 million , comprised primarily of lost cost absorption , repair costs and increased freight costs . Unrelated to the winter storms , the company also incurred higher - than - expected environmental reserves of approximately $ 4 million . Cash flows provided by operating activities totaled $ 64 million compared to $ 47 million in the prior year quarter . Free cash flows totaled $ 40 million compared to $ 10 million in the prior - year quarter . " Absent the weather - related impacts , all of Ashland's business units performed as expected during the quarter , " said Guillermo Novo , chairman and chief executive officer , Ashland . " The industrial businesses continued to gain further momentum as demand in those end markets accelerated . The Life Sciences segment saw continued strength in demand in the pharma and nutraceutical end markets , while the Personal Care and Household segment continued to experience the same consumer - driven impacts that have persisted during the global pandemic . "