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Versum Materials beats 3Q profit forecasts

TEMPE, Ariz. (AP) _ Versum Materials Inc. (VSM) on Tuesday reported fiscal third-quarter earnings of $52.7 million. The Tempe, Arizona-based company said it had net income of 48 cents per share. Earnings, adjusted for restructuring costs, came to 52 cents per share. The results surpassed Wall...

TEMPE, Ariz. (AP) _ Versum Materials Inc. (VSM) on Tuesday reported fiscal third-quarter earnings of $52.7 million.

The Tempe, Arizona-based company said it had net income of 48 cents per share. Earnings, adjusted for restructuring costs, came to 52 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The supplier of specialty materials to the semiconductor industry posted revenue of $290.8 million in the period.

Versum Materials expects full-year revenue in the range of $1.09 billion to $1.12 billion.

Versum Materials shares have increased 26 percent since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VSM at https://www.zacks.com/ap/VSM

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Keywords: Versum Materials, Earnings Report

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