Air Products and Chemicals: Fiscal 2Q Earnings Snapshot

The seller of gases for industrial, medical, and other uses posted revenue of $2.19 billion in the period.

Air Products and Chemicals Inc. on Wednesday reported fiscal second-quarter net income of $421.3 million.

On a per-share basis, the Allentown, Pennsylvania-based company said it had profit of $1.90. Earnings, adjusted for pretax expenses, came to $1.92 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.88 per share.

The seller of gases for industrial, medical and other uses posted revenue of $2.19 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.2 billion.

For the current quarter ending in July, Air Products and Chemicals expects its per-share earnings to range from $2.10 to $2.15. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.19.

The company expects full-year earnings in the range of $8.15 to $8.30 per share.

Air Products and Chemicals shares have risen 23 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 17 percent. The stock has increased 18 percent in the last 12 months.

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