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Ashland Global Q3 Profit Up

Ashland Global Holdings Inc. (ASH) Tuesday reported third-quarter net income of $66 million or $1.05 per share, up from $36 million or $0.56 per share last year.

Adjusted income from continuing operations was $48 million or $0.77 per share, up from $49 million or $0.77 per share last year. On average, 11 analysts polled by Thomson Reuters estimate earnings of $0.77 per share for the quarter.

Sales declined 4 percent year-over-year to $641 million from $668 million. Analysts had a consensus revenue estimate of $641.64 million for the quarter.

"Solid gains in Pharma and Nutrition were offset by weakening demand in several of our key end markets as we progressed through the quarter," said CEO William Wulfsohn.

For the fourth quarter, Ashland expects adjusted earnings from continuing operations in the range of $0.92 to $1.02 per share. Analysts currently estimate earnings of $0.99 per share for the quarter.

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