Air Products (APD) Beats Q2 Earnings Estimates, Sales Miss
Air Products and Chemicals Inc. APD is a world-leading industrial gases company serving manufacturing markets including refining and petrochemical, metals, electronics, and food and beverage.
Earnings
Air Products’ adjusted earnings were $1.71 per share for second-quarter fiscal 2018, up 20% year over year. It beat the Zacks Consensus Estimate of $1.68.
Revenues
Air Products posted second-quarter revenues of $2,155.7 million, up around 9% year over year. It missed the Zacks Consensus Estimate of $2,190 million.
Air Products and Chemicals, Inc. Price and EPS Surprise
Air Products and Chemicals, Inc. Price and EPS Surprise | Air Products and Chemicals, Inc. Quote
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Air Products for the fiscal second quarter has been stable over the last month. Air Products has beaten the Zacks Consensus Estimate in each of the trailing four quarters with an average beat of 4.7%.
Key Stats/Developments to Note
For fiscal 2018, Air Products anticipates its adjusted earnings to be in the range of $7.25 to $7.40 per share, up 15-17% from the prior year. The company expects adjusted earnings to be in the band of $1.80 to $1.85 per share for the fiscal third quarter, up 9-12% year over year. It also sees capital expenditure of $1.8-$2 billion for fiscal 2018.
Zacks Rank
Air Products currently has a Zacks Rank #4 (Sell), 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.
Market Reaction
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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