WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Ashland Inc. (ASH) on Monday reported a loss of $12 million in its fiscal first quarter.
The Wilmington, Delaware-based company said it had a loss of 26 cents per share. Earnings, adjusted for one-time gains and costs, were 26 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The chemical company posted revenue of $386 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $408.3 million.
Ashland expects full-year revenue in the range of $1.84 billion to $1.91 billion.
Ashland shares have climbed almost 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $61.56, a decline of 3% 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