WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Ashland Inc. (ASH) on Tuesday reported fiscal second-quarter net income of $91 million.
The Wilmington, Delaware-based company said it had profit of $1.67 per share. Earnings, adjusted for non-recurring gains, were $1.43 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The chemical company posted revenue of $603 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $632.5 million.
Ashland shares have decreased 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $100.01, a fall of 3.5% 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
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