Ashland Global Holdings Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Ashland Global Holdings Inc. (ASH) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $26 million, or $0.51 per share. This compares with $40 million, or $0.73 per share, in last year's first quarter.

Excluding items, Ashland Global Holdings Inc. reported adjusted earnings of $0.45 per share for the period.

Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.9% to $473 million from $525 million last year.

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

-Earnings (Q1): $26 Mln. vs. $40 Mln. last year. -EPS (Q1): $0.51 vs. $0.73 last year. -Analyst Estimates: $0.19 -Revenue (Q1): $473 Mln vs. $525 Mln last year.