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Ashland: Fiscal 4Q Earnings Snapshot

·1 min read

WILMINGTON, Del. (AP) _ Ashland Inc. (ASH) on Tuesday reported fiscal fourth-quarter earnings of $5 million.

The Wilmington, Delaware-based company said it had net income of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to 99 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The chemical company posted revenue of $609 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $585.5 million.

For the year, the company reported a loss of $508 million, or $8.39 per share, swinging to a loss in the period. Revenue was reported as $2.33 billion.

Ashland shares have risen 4.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $79.95, a climb of nearly 3% in the last 12 months.

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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