AP NEWS

Air Products and Chemicals: Fiscal 1Q Earnings Snapshot

January 24, 2020 GMT

ALLENTOWN, Pa. (AP) _ Air Products and Chemicals Inc. (APD) on Friday reported fiscal first-quarter earnings of $475.6 million.

On a per-share basis, the Allentown, Pennsylvania-based company said it had profit of $2.14.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.

The seller of gases for industrial, medical and other uses posted revenue of $2.25 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.24 billion.

For the current quarter ending in April, Air Products and Chemicals expects its per-share earnings to range from $2.10 to $2.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.29.

The company expects full-year earnings in the range of $9.35 to $9.60 per share.

Air Products and Chemicals shares have risen 1% since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 3%. The stock has risen 52% in the last 12 months.

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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 APD at https://www.zacks.com/ap/APD