Air Products & Chemicals Raises Guidance
April 24 2019 - 5:48AM
Dow Jones News
By Nathan Allen
Air Products & Chemicals Inc. (APD) on Wednesday reported a
slight increase in second-quarter profit and raised its 2019
guidance.
The Pennsylvania-based industrial-gases producer earned a profit
of $421.3 million, or $1.90 a share, compared with $416.4 million,
or $1.89 a share, for the same period last year.
Excluding items, Air Products reported a profit of $1.92 a
share, compared with $1.71 last year and analysts' forecasts of
$1.86.
Sales climbed to $2.2 billion from $2.16 billion a year
earlier.
Air Products & Chemicals attributed the higher earnings to
an increase in sales volumes and higher selling prices.
The company said it expects adjusted per-share earnings in 2019
of $8.15 to $8.30, compared with a previous estimate of $8.05 to
$8.30.
For the third quarter the company said it expects adjusted
per-share earnings of $2.10 to $2.15.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
April 24, 2019 06:33 ET (10:33 GMT)
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