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Air Products (APD) Q2 Earnings Beat Estimates, Sales Miss

Zacks Equity Research

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 $1.92 per share for second-quarter fiscal 2019. The figure surpassed the Zacks Consensus Estimate of $1.88.

Revenues

Air Products posted second-quarter revenues of $2,187.7 million, up 1.5% year over year. It missed the Zacks Consensus Estimate of $2,199.4 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 remained stable over the past month. Air Products has beaten the Zacks Consensus Estimate in two of the trailing four quarters with an average beat of 1.8%.

Key Stats/Developments to Note

Air Products has increased its adjusted earnings per share (EPS) guidance for fiscal 2019 to the range of $8.15 to $8.30, from $8.05 to $8.30 it expected earlier. This reflects 10% rise over prior year at the midpoint.

The company expects adjusted EPS for third-quarter fiscal 2019 in the band of $2.10 to $2.15 per share, up 8-10% year over year. It also increased capital expenditure expectations for fiscal 2019 to the range of $2.4-$2.5 billion, from $2.3-$2.5 billion expected earlier.

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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