Ashland: Fiscal Q3 Earnings Snapshot
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.