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

Ashland Global Holdings Inc. (ASH) has announced its first quarter earnings, which showed a decrease from the previous year. However, the figures surpassed the anticipated market estimates. The company's net income was reported as $26 million, equating to $0.51 per share. This is a decrease from the first quarter of last year, wherein they recorded $40 million or $0.73 per share.

After adjusting for specific items, Ashland Global Holdings Inc. tallied adjusted earnings at $0.45 per share for the given period. This surpassed Thomson Reuters' compiled average analyst expectation of $0.19 per share, a figure typically excluding special items.

The quarterly revenue for the company also fell from $525 million last year to $473 million this year, marking a 9.9% decrease. In a summary of the GAAP earnings of Ashland Global Holdings Inc., the first quarter earnings were $26 million compared to $40 million last year. The revenue for the first quarter was $473 million, showing a decrease from $525 million in the same period last year.