Ashland Inc. Announces 17% Decline In Q2 Profit

(RTTNews) - Ashland Inc. (ASH) reported a profit for second quarter that dropped from last year.

The company said its earnings fell to $115 million, or $1.83 per share. This was down from $138 million, or $2.03 per share, in last year's second quarter.

Analysts had expected the company to earn $1.74 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.4% to $1.25 billion. This was down from $1.35 billion last year.

Ashland Inc. earnings at a glance:

-Earnings (Q2): $115 Mln. vs. $138 Mln. last year. -Earnings Decline (Y-o-Y): -16.7% -EPS (Q2): $1.83 vs. $2.03 last year. -EPS Decline (Y-o-Y): -9.9% -Analysts Estimate: $1.74 -Revenue (Q2): $1.25 Bln vs. $1.35 Bln last year. -Revenue Change (Y-o-Y): -7.4%