Air Products (APD) Q1 Earnings & Revenues Top Estimates

Zacks Equity Research Published on January 26, 2018

Air Products and Chemicals, Inc. (APD - Free Report) beat earnings expectations in first-quarter fiscal 2018 (ended Dec 31, 2017).

The industrial gases giant logged fiscal first quarter adjusted earnings of $1.79 per share, up 22% from the year-ago quarter. Earnings surpassed the Zacks Consensus Estimate of $1.66.

Net income (as reported) from continuing operations, for the reported quarter, was down 38% year over year to $156 million or 70 cents per share. The results include a $239 million (or $1.09 per share) charge associated with the U.S. Tax Cuts and Jobs Act.

Cost of sales rose roughly 19.4% year over year to around $1.6 billion. Selling and administrative expenses increased 16.3% year over year to $191.6 million.

Air Products posted fiscal first quarter revenues of $2,216.6 million, up around 18% year over year. The top line also beat the Zacks Consensus Estimate of $2,159.2 million. A 13% increase in volumes, 2% rise in price and 3% favorable currency impact contributed to revenue growth.

Air Products and Chemicals, Inc. Price, Consensus and EPS Surprise

Zacks Rank & Other Stocks to Consider

Air Products currently carries a Zacks Rank #2 (Buy). Other stocks worth considering in the basic materials space include Methanex Corporation (MEOH - Free Report) , BASF SE (BASFY - Free Report) and Kronos Worldwide Inc. (KRO - Free Report) .

Methanex has an expected long-term earnings growth rate of 15% and a Zacks Rank #1 (Strong Buy). Shares of the company have gained 18.5% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.

BASF has an expected long-term earnings growth rate of 8.7% and a Zacks Rank #2 (Buy). Shares of the company have rallied 21.8% in a year.

Kronos has an expected long-term earnings growth rate of 5% and a Zacks Rank of 1. Its shares have skyrocketed 110% over a year.

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.