WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Ashland Inc. (ASH) on Tuesday reported a fiscal third-quarter loss of $742 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Wilmington, Delaware-based company said it had a loss of $16.21. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $1.04 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 $1.15 per share.
The chemical company posted revenue of $463 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $468.4 million.
Ashland expects full-year revenue in the range of $1.83 billion to $1.85 billion.
Ashland shares have dropped 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $50.18, a decline of 48% 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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