Air Products & Chemicals Inc APD reported a drop in its net profit for the second quarter.
Air Products' quarterly net profit declined to $296 million, or $1.38 per share, from $304.3 million, or $1.39 per share, in the year-earlier period. On an adjusted basis, Air Products earned $1.39 per share, versus analysts' estimates of $1.35 per share.
Air Products' sales dropped to $2.3 billion, from $2.4 billion in the year-earlier period.
Air Products expects Q3 net profit between $1.40 and $1.45 a share, versus analysts' estimates of $1.53 per share.
Air Products shares closed at $88.73 yesterday.
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