Ashland Global Holdings Inc. Q1 Profit Decreases, misses estimates

(RTTNews) - Ashland Global Holdings Inc. (ASH) announced a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $40 million, or $0.73 per share. This compares with $48 million, or $0.83 per share, in last year's first quarter.

Excluding items, Ashland Global Holdings Inc. reported adjusted earnings of $54 million or $0.97 per share for the period.

Analysts on average had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.5% to $525 million from $512 million last year.

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

-Earnings (Q1): $40 Mln. vs. $48 Mln. last year. -EPS (Q1): $0.73 vs. $0.83 last year. -Analyst Estimates: $0.99 -Revenue (Q1): $525 Mln vs. $512 Mln last year.

-Guidance: Full year revenue guidance: $2.5-$2.7 bln