WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Ashland Inc. (ASH) on Tuesday reported fiscal fourth-quarter profit of $32 million.
The Wilmington, Delaware-based company said it had net income of 71 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.08 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The chemical company posted revenue of $478 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $474.3 million.
For the year, the company reported a loss of $845 million, or $18.23 per share, swinging to a loss in the period. Revenue was reported as $1.82 billion.
Ashland shares have fallen 33% since the beginning of the year. The stock has fallen 44% 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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