UPDATE: Air Products Reports Downbeat Q1 Revenue

Air Products & Chemicals Inc

reported a drop in its first-quarter profit. Air Products' quarterly profit climbed to $292 million, or $1.36 per share, from $296 million, or $1.35 per share, in the year-ago period. Its revenue rose to $2.42 billion. However, analysts were expecting earnings of $1.36 per share on sales of $2.52 billion. Air Products shares closed at $89.92 yesterday.