By Nathan Allen

 

Air Products & Chemicals Inc. (APD) on Wednesday reported a slight increase in second-quarter profit and raised its 2019 guidance.

The Pennsylvania-based industrial-gases producer earned a profit of $421.3 million, or $1.90 a share, compared with $416.4 million, or $1.89 a share, for the same period last year.

Excluding items, Air Products reported a profit of $1.92 a share, compared with $1.71 last year and analysts' forecasts of $1.86.

Sales climbed to $2.2 billion from $2.16 billion a year earlier.

Air Products & Chemicals attributed the higher earnings to an increase in sales volumes and higher selling prices.

The company said it expects adjusted per-share earnings in 2019 of $8.15 to $8.30, compared with a previous estimate of $8.05 to $8.30.

For the third quarter the company said it expects adjusted per-share earnings of $2.10 to $2.15.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

(END) Dow Jones Newswires

April 24, 2019 06:33 ET (10:33 GMT)

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