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Air Products (APD) Misses Q1 Earnings & Sales Estimates
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Air Products and Chemicals Inc. (APD - Free Report) makes industrial gases as well as a variety of polymer and performance chemicals. It also supplies processing equipment. The company serves technology, energy, industrial and health care customers globally.
Air Products benefits from a diverse customer base, sustained pricing power and cost-reduction measures. However, Air Products' industrial gases business in the EMEA is seeing pressure from a weak operating environment. The company is also exposed to currency headwinds.
Let’s have a quick look at the company’s first-quarter fiscal 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Air Products for the fiscal first-quarter has been static over the last month. Air Products has beaten estimates in all of the last four quarters with an average positive surprise of 1.84%.
Earnings
Air Products logged adjusted earnings of $1.47 per share for the fiscal first-quarter, up 9% year over year. But it missed the Zacks Consensus Estimate of $1.48.
Air Products and Chemicals, Inc. Price and EPS Surprise
Air Products posted net sales of $1.88 billion for the quarter, up 1% year over year. It also missed the Zacks Consensus Estimate of $1.96 billion.
Key Stats/Developments to Note
For the second quarter of fiscal 2017, Air Products expects adjusted EPS from continuing operations of $1.30 to $1.40. Air Products expects adjusted earnings for fiscal 2017 to be in the range of $6.00 to $6.25 per share, up 9% year over year at the midpoint.
Zacks Rank
Currently, Air Products has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Air Products’ shares lost 3.2% in pre-market trading.
Check back later for our full write up on Air Products’ earnings report!
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Air Products (APD) Misses Q1 Earnings & Sales Estimates
Air Products and Chemicals Inc. (APD - Free Report) makes industrial gases as well as a variety of polymer and performance chemicals. It also supplies processing equipment. The company serves technology, energy, industrial and health care customers globally.
Air Products benefits from a diverse customer base, sustained pricing power and cost-reduction measures. However, Air Products' industrial gases business in the EMEA is seeing pressure from a weak operating environment. The company is also exposed to currency headwinds.
Let’s have a quick look at the company’s first-quarter fiscal 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Air Products for the fiscal first-quarter has been static over the last month. Air Products has beaten estimates in all of the last four quarters with an average positive surprise of 1.84%.
Earnings
Air Products logged adjusted earnings of $1.47 per share for the fiscal first-quarter, up 9% year over year. But it missed the Zacks Consensus Estimate of $1.48.
Air Products and Chemicals, Inc. Price and EPS Surprise
Air Products and Chemicals, Inc. Price and EPS Surprise | Air Products and Chemicals, Inc. Quote
Revenues
Air Products posted net sales of $1.88 billion for the quarter, up 1% year over year. It also missed the Zacks Consensus Estimate of $1.96 billion.
Key Stats/Developments to Note
For the second quarter of fiscal 2017, Air Products expects adjusted EPS from continuing operations of $1.30 to $1.40. Air Products expects adjusted earnings for fiscal 2017 to be in the range of $6.00 to $6.25 per share, up 9% year over year at the midpoint.
Zacks Rank
Currently, Air Products has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Air Products’ shares lost 3.2% in pre-market trading.
Check back later for our full write up on Air Products’ earnings report!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>