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Air Products (APD) Beats Q3 Earnings Estimates, Sales Miss
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Air Products and Chemicals Inc. (APD - Free Report) 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 $1.95 per share for third-quarter fiscal 2018. It beat the Zacks Consensus Estimate of $1.84.
Revenues
Air Products posted third-quarter revenues of $2,259 million, up around 6% year over year. It missed the Zacks Consensus Estimate of $2,291 million.
Air Products and Chemicals, Inc. Price and EPS Surprise
Investors should note that the earnings estimate for Air Products for the fiscal third quarter has been going down over the past month. Air Products has beaten the Zacks Consensus Estimate in each of the trailing four quarters with an average beat of 4.2%.
Key Stats/Developments to Note
Air Products raised its adjusted earnings guidance for fiscal 2018. It now anticipates adjusted earnings to be in the range of $7.40 to $7.45 per share (a 17-18% increase from the prior year), up from its earlier view of $7.25 to $7.40 per share. The company expects adjusted earnings to be in the band of $1.95 to $2.00 per share for the fiscal fourth quarter, up 11-14% year over year. It also sees capital expenditure of $1.8-$2 billion for fiscal 2018.
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!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Air Products (APD) Beats Q3 Earnings Estimates, Sales Miss
Air Products and Chemicals Inc. (APD - Free Report) 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 $1.95 per share for third-quarter fiscal 2018. It beat the Zacks Consensus Estimate of $1.84.
Revenues
Air Products posted third-quarter revenues of $2,259 million, up around 6% year over year. It missed the Zacks Consensus Estimate of $2,291 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 third quarter has been going down over the past month. Air Products has beaten the Zacks Consensus Estimate in each of the trailing four quarters with an average beat of 4.2%.
Key Stats/Developments to Note
Air Products raised its adjusted earnings guidance for fiscal 2018. It now anticipates adjusted earnings to be in the range of $7.40 to $7.45 per share (a 17-18% increase from the prior year), up from its earlier view of $7.25 to $7.40 per share. The company expects adjusted earnings to be in the band of $1.95 to $2.00 per share for the fiscal fourth quarter, up 11-14% year over year. It also sees capital expenditure of $1.8-$2 billion for fiscal 2018.
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!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>