Ashland (ASH) Earnings & Sales Fall Short Of Estimates In Q4
Zacks Investment Research | Nov 20, 2019 06:58AM ET
Ashland Global Holdings Inc. (NYSE:ASH) logged profit from continuing operations of $27 million or 44 cents per share in the fourth quarter of fiscal 2019 (ended Sep 30, 2019), compared with a loss of $2 million or 3 cents in the prior-year quarter. The company benefited from its cost-reduction program in the reported quarter.
Barring one-time items, adjusted earnings came in at 77 cents, up 8% year over year. However, it lagged the Zacks Consensus Estimate of 98 cents.
Sales fell 9% year over year to $609 million. The figure also missed the Zacks Consensus Estimate of $641.8 million. Sales were hurt by softer industrial end-market demand in the Specialty Ingredients segment and weak results at Pharmachem and Personal Care businesses.
Ashland Global Holdings Inc. Price, Consensus and EPS Surprise
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