Air Products and Chemicals Inc. (APD - Free Report) is a world-leading industrial gases company serving manufacturing markets including refining and petrochemical, metals, electronics, and food and beverage.
Air Products’ adjusted earnings were $1.86 per share for first-quarter fiscal 2019. It missed the Zacks Consensus Estimate of $1.87.
Air Products posted first-quarter revenues of $2,224 million, flat year over year. It also missed the Zacks Consensus Estimate of $2,289 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Air Products for the fiscal first quarter remained stable over the past month. Air Products has beaten the Zacks Consensus Estimate in three of the trailing four quarters with an average beat of 3.9%.
Key Stats/Developments to Note
Air Products continues to expect adjusted earnings for fiscal 2019 to be in the range of $8.05 to $8.30 per share, reflecting a 10% increase at the midpoint year over year. The company expects adjusted earnings to be in the band of $1.80 to $1.90 per share for second-quarter fiscal 2019, up 8% at the midpoint year over year. The company also continues to anticipates capital expenditure of $2.3-$2.5 billion for fiscal 2019.
Air Products currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Air Products’ shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Air Products’ earnings report!
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