Ashland: Fiscal Q3 Earnings Snapshot
WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Ashland Inc. (ASH) on Tuesday reported fiscal third-quarter net income of $50 million.
The Wilmington, Delaware-based company said it had profit of 94 cents per share. Earnings, adjusted for one-time gains and costs, were $1.23 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.
The chemical company posted revenue of $546 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $547.2 million.
Ashland shares have declined 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $91.81, a fall of 13% 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
