ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — Air Products and Chemicals Inc. (APD) on Tuesday reported fiscal second-quarter earnings of $572.4 million.
On a per-share basis, the Allentown, Pennsylvania-based company said it had net income of $2.57. Earnings, adjusted for non-recurring costs, were $2.85 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.72 per share.
The seller of gases for industrial, medical and other uses posted revenue of $2.93 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $3.15 billion.
For the current quarter ending in June, Air Products and Chemicals expects its per-share earnings to range from $3 to $3.05.
The company expects full-year earnings in the range of $12.20 to $12.50 per share.
Air Products and Chemicals shares have declined 13% since the beginning of the year, while the S&P’s 500 index has climbed slightly more than 7%. The stock has fallen 18% 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
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