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Ashland: Fiscal 2Q Earnings Snapshot

COVINGTON, Ky. (AP) _ Ashland Inc. (ASH) on Tuesday reported fiscal second-quarter profit of $76 million.

On a per-share basis, the Covington, Kentucky-based company said it had profit of $1.19. Earnings, adjusted for one-time gains and costs, came to 83 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The chemical company posted revenue of $667 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $684.6 million.

For the current quarter ending in July, Ashland expects its per-share earnings to range from 80 cents to 90 cents.

The company expects full-year earnings in the range of $2.90 to $3.20 per share.

Ashland shares have increased 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $80.51, a rise of 22% 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