Air Products & Chemicals Beats 3Q Profit Estimates; Sees Slight Drop in Sales

Date : 07/25/2019 @ 11:14AM
Source : Dow Jones News
Stock : Air Products and Chemicals Inc (APD)
Quote : 243.95  6.66 (2.81%) @ 12:59AM
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Air Products & Chemicals Beats 3Q Profit Estimates; Sees Slight Drop in Sales

Air Products and Chemicals (NYSE:APD)
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By Michael Tobin

 

Air Products & Chemicals Inc. (APD) said that fiscal third quarter profit rose even as the company saw a slight dip in sales compared with last year.

The gas and chemical vendor has $488 million in net income, or $2.20 a share, for the quarter ended June 30, compared with $473.9 million, or $1.95 a share during last year's third quarter. Analysts polled by FactSet estimated earnings of $2.15 a share.

Air Products & Chemicals sales fell slightly, with the company reporting $2.22 billion in sales, compared with $2.26 billion in last year's third quarter. Analysts estimated $2.32 billion. The company partially attributed the drop in sales to a contract modification in India.

The company guided fourth quarter adjusted earnings per share between $2.26 and $2.31.

 

Write to Michael Tobin at michael.tobin@wsj.com

 

(END) Dow Jones Newswires

July 25, 2019 06:59 ET (10:59 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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