MALVERN, Pa. (AP) _ PQ Group Holdings Inc. (PQG) on Friday reported third-quarter profit of $7.5 million.
On a per-share basis, the Malvern, Pennsylvania-based company said it had profit of 6 cents. Earnings, adjusted to extinguish debt and for non-recurring costs, came to 20 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The specialty chemical producer posted revenue of $380.3 million in the period, which met Street forecasts.
PQ Group expects full-year revenue in the range of $1.08 billion to $1.1 billion.
PQ Group shares have declined 29% since the beginning of the year. The stock has decreased 26% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PQG at https://www.zacks.com/ap/PQG
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News