Ashland: Fiscal Q3 Earnings Snapshot

July 26, 2022 GMT

WILMINGTON, Del. (AP) _ Ashland Inc. (ASH) on Tuesday reported fiscal third-quarter net income of $36 million.

On a per-share basis, the Wilmington, Delaware-based company said it had net income of 65 cents. Earnings, adjusted for non-recurring costs and amortization costs, were $1.89 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.88 per share.

The chemical company posted revenue of $644 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $643.9 million.

Ashland shares have dropped 2.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $104.99, an increase of 20% 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