Air Products 3Q Profit More Than Triples, Co. Boosts Guidance

Date : 07/26/2018 @ 8:57AM
Source : Dow Jones News
Stock : Air Products And Chemicals, Inc. (APD)
Quote : 166.61  1.89 (1.15%) @ 4:00PM

Air Products 3Q Profit More Than Triples, Co. Boosts Guidance

Air Products (NYSE:APD)
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By Chris Wack

 

Air Products & Chemicals Inc. (APD) said Thursday its third-quarter profit more than tripled from the prior year.

The Lehigh Valley, Pa., industrial gas maker reported a third-quarter net income of $473.9 million, or $2.15 a share, compared with $101.9 million, or 46 cents a share, for the same period a year ago. Analysts were expecting a profit of $1.83 a share, according to FactSet.

Net income from continuing operations was $431 million, or $1.95 a share.

Sales rose 6% to $2.3 billion. Analysts were expecting sales of $2.3 billion.

Air Products raised its adjusted EPS to $7.40 to $7.45, an increase of 17% to 18% over the prior year. The company also raised its fourth-quarter adjusted EPS to $1.95 to $2.00.

Shares of Air Products were untraded pre-market, after closing Wednesday at $157.30 a share, up 1.27%.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

July 26, 2018 08:42 ET (12:42 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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