Air Products & Chemicals Beats 3Q Profit Estimates; Sees Slight Drop in Sales
July 25 2019 - 7:14AM
Dow Jones News
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)
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