ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — Air Products and Chemicals Inc. (APD) on Thursday reported a fiscal second-quarter loss of $1.73 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the Allentown, Pennsylvania-based company said it had a loss of $7.77. Earnings, adjusted for non-recurring costs, came to $2.69 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.84 per share.
The seller of gases for industrial, medical and other uses posted revenue of $2.92 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $2.95 billion.
For the current quarter ending in June, Air Products and Chemicals expects its per-share earnings to range from $2.90 to $3.
The company expects full-year earnings in the range of $11.85 to $12.15 per share.
Air Products and Chemicals shares have decreased 6.5% since the beginning of the year, while the S&P’s 500 index has fallen slightly more than 5%. The stock has risen 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
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