WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Ashland Inc. (ASH) on Tuesday reported fiscal second-quarter earnings of $120 million.
On a per-share basis, the Wilmington, Delaware-based company said it had profit of $2.39. Earnings, adjusted for non-recurring gains, were $1.27 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The chemical company posted revenue of $575 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $574.2 million.
For the current quarter ending in June, Ashland said it expects revenue in the range of $560 million to $580 million.
The company expects full-year revenue in the range of $2.15 billion to $2.23 billion.
Ashland shares have risen 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $95.33, a drop of 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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