Air Products and Chemicals: Fiscal Q2 Earnings Snapshot

May 5, 2022 GMT

ALLENTOWN, Pa. (AP) _ Air Products and Chemicals Inc. (APD) on Thursday reported fiscal second-quarter net income of $530.5 million.

The Allentown, Pennsylvania-based company said it had profit of $2.38 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.

The seller of gases for industrial, medical and other uses posted revenue of $2.95 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.94 billion.

For the current quarter ending in July, Air Products and Chemicals expects its per-share earnings to range from $2.55 to $2.65. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.64.

The company expects full-year earnings in the range of $10.20 to $10.40 per share.

Air Products and Chemicals shares have dropped 19% since the beginning of the year, while the S&P’s 500 index has decreased roughly 10%. The stock has dropped 15% 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