Ashland: Fiscal 4Q Earnings Snapshot
COVINGTON, Ky. (AP) _ Ashland Inc. (ASH) on Tuesday reported fiscal fourth-quarter net income of $9 million, after reporting a loss in the same period a year earlier.
The Covington, Kentucky-based company said it had net income of 15 cents per share. Earnings, adjusted for one-time gains and costs, were 97 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The chemical company posted revenue of $956 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $929.2 million.
For the year, the company reported profit of $114 million, or $1.79 per share. Revenue was reported as $3.74 billion.
For the current quarter ending in January, Ashland expects its per-share earnings to range from 55 cents to 65 cents.
The company expects full-year earnings in the range of $4.20 to $4.40 per share.
Ashland shares have climbed slightly more than 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $77.88, a climb of 14 percent in the last 12 months.