Ashland Inc. Reveals 12% Drop In Q1 Earnings

(RTTNews) - Ashland Inc. (ASH) reported a profit for first quarter that declined compared to the same period last year.

The company said its earnings totaled $83 million, or $1.16 per share. This was down from $94 million, or $1.41 per share, in last year's first quarter.

Analysts had expected the company to earn $0.91 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.6% to $1.19 billion. This was up from $1.16 billion last year.

Ashland Inc. earnings at a glance:

-Earnings (Q1): $83 Mln. vs. $94 Mln. last year. -Earnings Decline (Y-o-Y): -11.7% -EPS (Q1): $1.16 vs. $1.41 last year. -EPS Decline (Y-o-Y): -17.7% -Analysts Estimate: $0.91 -Revenue (Q1): $1.19 Bln vs. $1.16 Bln last year. -Revenue Change (Y-o-Y): 2.6%