ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — Air Products and Chemicals Inc. (APD) on Friday reported fiscal first-quarter profit of $678.2 million.
The Allentown, Pennsylvania-based company said it had profit of $3.04 per share. Earnings, adjusted for non-recurring costs, came to $3.16 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.04 per share.
The seller of gases for industrial, medical and other uses posted revenue of $3.1 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $3.04 billion.
For the current quarter ending in March, Air Products and Chemicals expects its per-share earnings to range from $2.95 to $3.10.
The company expects full-year earnings in the range of $12.85 to $13.15 per share.
Air Products and Chemicals shares have increased nearly 4% since the beginning of the year, while the S&P’s 500 index has climbed roughly 2%. The stock has decreased 22% 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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