ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — Air Products and Chemicals Inc. (APD) on Thursday reported fiscal fourth-quarter net income of $1.95 billion.
The Allentown, Pennsylvania-based company said it had net income of $8.75 per share. Earnings, adjusted for non-recurring gains, came to $3.56 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.44 per share.
The seller of gases for industrial, medical and other uses posted revenue of $3.19 billion in the period, which met Street forecasts.
For the year, the company reported profit of $3.83 billion, or $17.18 per share. Revenue was reported as $12.1 billion.
For the current quarter ending in December, Air Products and Chemicals expects its per-share earnings to range from $2.75 to $2.85.
The company expects full-year earnings in the range of $12.70 to $13 per share.
Air Products and Chemicals shares have climbed 12% since the beginning of the year, while the S&P’s 500 index has increased 24%. The stock has climbed slightly more than 5% 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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