WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Ashland Inc. (ASH) on Tuesday reported fiscal second-quarter profit of $16 million.
The Wilmington, Delaware-based company said it had profit of 34 cents per share. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The chemical company posted revenue of $482 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $490.8 million.
Ashland expects full-year revenue in the range of $1.84 billion to $1.87 billion.
Ashland shares have dropped nearly 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $57, an increase of roughly 7% 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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