Ashland Q1 Profit Tops Estimate

(RTTNews) - Ashland Inc. (ASH) reported net income for the first quarter of $32 million or $0.46 per share, compared to $110 million or $1.40 per share for the year-ago quarter.

Income from continuing operations for the first quarter was $40 million or $0.57 per share, compared to $88 million or $1.12 per share in the prior year quarter.

Excluding items, Ashland's adjusted income from continuing operations for the latest quarter was $102 million or $1.46 per share.

Sales for the first quarter fell to $1.39 billion from $1.43 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.41 per share on revenue of $1.44 billion for the first quarter. Analysts' estimates typically exclude special items.