WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Ashland Inc. (ASH) on Wednesday reported fiscal fourth-quarter net income of $16 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Wilmington, Delaware-based company said it had net income of 33 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.26 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The chemical company posted revenue of $522 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $518.7 million.
For the year, the company reported profit of $169 million, or $3.36 per share. Revenue was reported as $2.11 billion.
Ashland expects full-year revenue in the range of $1.9 billion to $2.05 billion.
Ashland shares have increased roughly 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $87.38, an increase of 13% in the last 12 months.
_____
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
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
