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Ashland beats Street 2Q forecasts

COVINGTON, Ky. (AP) _ Ashland Inc. (ASH) on Tuesday reported fiscal second-quarter earnings of $92 million.

The Covington, Kentucky-based company said it had profit of $1.47 per share. Earnings, adjusted for one-time gains and costs, were $1.71 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.

The chemical company posted revenue of $1.32 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.28 billion.

Ashland shares have climbed 17 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $127.56, a climb of 12 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASH at https://www.zacks.com/ap/ASH


Keywords: Ashland, Earnings Report