Ashland: Fiscal 3Q Earnings Snapshot
COVINGTON, Ky. (AP) _ Ashland Inc. (ASH) on Tuesday reported fiscal third-quarter earnings of $66 million.
On a per-share basis, the Covington, Kentucky-based company said it had profit of $1.05. Earnings, adjusted for one-time gains and costs, were 77 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 77 cents per share.
The chemical company posted revenue of $641 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $639.8 million.
For the current quarter ending in September, Ashland expects its per-share earnings to range from 92 cents to $1.02.
The company expects full-year earnings in the range of $2.65 to $2.75 per share.
Ashland shares have increased 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $80.43, a decline of almost 2% in the last 12 months.