Air Products and Chemicals: Fiscal Q3 Earnings Snapshot

August 4, 2022 GMT

ALLENTOWN, Pa. (AP) _ Air Products and Chemicals Inc. (APD) on Thursday reported fiscal third-quarter net income of $582.1 million.

The Allentown, Pennsylvania-based company said it had net income of $2.62 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.61 per share.

The seller of gases for industrial, medical and other uses posted revenue of $3.19 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $3.06 billion.

For the current quarter ending in September, Air Products and Chemicals expects its per-share earnings to range from $2.68 to $2.88. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.74.

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

Air Products and Chemicals shares have fallen 19% since the beginning of the year, while the S&P’s 500 index has decreased 13%. 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