Air Products and Chemicals Inc. (APD - Analyst Report) has launched its new OxyForce cellular active at In-Cosmetics in Hamburg, Germany. OxyForce cellular active is a high performance energizing solution that is made to increase the supply of molecular oxygen to skin cells.
OxyForce cellular active, a part of Air Products’ personal care platform, specializes in delivery systems technology for cosmetic applications. OxyForce cellular active provides different solutions for skins ranging from the skin surface to within skin cells. Moreover, it increases the supply of oxygen to the skin, reduces the depth of wrinkles and smoothens the skin. OxyForce cellular active also supports natural collagen production.
OxyForce cellular active provides nourishment to the skin through its basic requirement which is oxygen. The business offers more than 80 active and functional commercial ingredients to the personal care industry, including those under the Rovisome, Cellular Actives, Intelimer, and Deposilk brands.
Air Products witnessed higher profit in first-quarter fiscal 2014 (ended Dec 31, 2013), reported on Jan 28, due to its cost reduction initiatives. The industrial gas giant registered earnings from continuing operations of $1.34 a share in the quarter, up 3% from the year-ago earnings of $1.30. The results beat the Zacks Consensus Estimate by a penny.
Consolidated net income rose 4% year over year to $290.2 million (or $1.35 a share) from $278.3 million (or $1.31 a share) a year ago.
Revenues, however, edged down 0.7% year over year to $2,545.5 million, missing the Zacks Consensus Estimate of $2,562 million. The decline was due to lower volumes and flat pricing, partly offset by higher energy pass-through. Underlying sales, barring the company’s exit from the Polyurethane Intermediates (PUI) business, fell 1%.
Air Products reaffirmed its earnings guidance for fiscal 2014 and anticipates earnings from continuing operations to be in the range of $5.70 and $5.90 per share. For the second quarter, earnings from continuing operations are expected in the band of $1.32 to $1.37 per share.
Air Products is a Zacks Rank #3 (Hold) stock.
Other companies in the chemical industry with favorable Zacks Rank include Methanex Corporation (MEOH - Analyst Report), The Dow Chemical Company (DOW - Analyst Report) and Akzo Nobel NV (AKZOY - Snapshot Report). All retain a Zacks Rank #2 (Buy).