Profit Dips for Air Products & Chemicals

Date : 11/06/2018 @ 7:08AM
Source : Dow Jones News
Stock : Air Products And Chemicals, Inc. (APD)
Quote : 158.32  -1.58 (-0.99%) @ 2:44PM

Profit Dips for Air Products & Chemicals

Air Products (NYSE:APD)
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1 Month : From Oct 2018 to Nov 2018

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   By Allison Prang 
 

Profit at Air Products & Chemicals Inc. (APD) fell in the company's fourth quarter as it recorded an income tax provision in place of a benefit and also logged expenses from a pension settlement.

Net income decreased 3.4% from the comparable quarter a year ago to $452.9 million. Earnings per share were $2.05, down from $2.13. Analysts polled by Refinitiv were expecting $1.98 a share.

Sales rose 4.3% to $2.3 billion. Analysts polled by Refinitiv were expecting $2.31 billion.

The company said it expects adjusted earnings for fiscal year 2019 to be between $8.05 and $8.30 a share and for adjusted earnings for the first fiscal quarter to be between $1.85 and $1.90 a share. Analysts polled by Refinitiv are expecting adjusted earnings of $8.20 a share for the 2019 fiscal year and $1.92 a share for the first fiscal quarter.

The company also expects to have between $2.3 billion and $2.5 billion in capital expenditures for the 2019 fiscal year.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

November 06, 2018 06:53 ET (11:53 GMT)

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

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