Ashland Global Holdings Inc. Q3 Profit Increases, but misses estimates

(RTTNews) - Ashland Global Holdings Inc. (ASH) released earnings for its third quarter that increased from the same period last year but missed the Street estimates.

The company's earnings came in at $50 million, or $0.94 per share. This compares with $36 million, or $0.65 per share, in last year's third quarter.

Excluding items, Ashland Global Holdings Inc. reported adjusted earnings of $65 million or $1.23 per share for the period.

Analysts on average had expected the company to earn $1.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.2% to $546 million from $644 million last year.

Ashland Global Holdings Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $50 Mln. vs. $36 Mln. last year. -EPS (Q3): $0.94 vs. $0.65 last year. -Analyst Estimate: $1.27 -Revenue (Q3): $546 Mln vs. $644 Mln last year.