COVINGTON, Ky. (AP) _ Ashland Inc. (ASH) on Tuesday reported a loss of $48 million in its fiscal first quarter.
On a per-share basis, the Covington, Kentucky-based company said it had a loss of 76 cents. Earnings, adjusted for one-time gains and costs, were 14 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The chemical company posted revenue of $576 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $589.7 million.
For the current quarter ending in April, Ashland expects its per-share earnings to range from 80 cents to 90 cents.
The company expects full-year earnings in the range of $3.10 to $3.40 per share.
Ashland shares have risen nearly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $77.30, a rise of slightly more than 6 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