ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — Air Products and Chemicals Inc. (APD) on Thursday reported fiscal third-quarter net income of $713.8 million.
On a per-share basis, the Allentown, Pennsylvania-based company said it had net income of $3.20. Earnings, adjusted for non-recurring gains, came to $3.09 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.98 per share.
The seller of gases for industrial, medical and other uses posted revenue of $3.02 billion in the period, which met Street forecasts.
For the current quarter ending in September, Air Products and Chemicals expects its per-share earnings to range from $3.27 to $3.47.
The company expects full-year earnings in the range of $11.90 to $12.10 per share.
Air Products and Chemicals shares have risen slightly since the beginning of the year, while the S&P’s 500 index has climbed 8%. The stock has climbed roughly 10% 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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