Air Products & Chemicals APD reported a 57% drop in its fiscal-fourth quarter earnings.
Air Products projects current-year earnings of $5.65 to $5.85 per share, and first-quarter earnings of $1.26 to $1.31 per share. However, analysts were expecting earnings of $6.16 for the year, and $1.38 for the current quarter.
Air Products' quarterly profit dropped to $138.7 million, or $0.65 per share, from $324.8 million, or $1.51 per share, in the year-ago period. Excluding one-time items, Air Products earned $1.42 per share. The company in July expected earnings of $1.42 to $1.47 per share.
Its revenue rose 4% to $2.61 billion. However, analysts were expecting revenue of $2.51 billion.
Air Products' gross margin rose to 26.2% from 26%.
Air Products shares closed at $85.45 yesterday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in