Air Products and Chemicals Profit Rises
November 07 2019 - 6:45AM
Dow Jones News
By Patrick Thomas
Air Products and Chemicals Inc. (APD) said its profit rose for
its fourth quarter, but missed analysts' expectations as sales
declined from a year earlier.
The gas-and-chemical vendor reported a profit of $503.2 million,
or $2.27 a share, compared with $452.9 million, or $2.05 a share, a
year ago.
The company reported adjusted earnings of $2.27 a share.
Analysts polled by FactSet were expecting earnings of $2.32 a
share, or $2.30 a share on an adjusted basis.
Sales fell to $2.28 billion from $2.30 billion a year earlier.
Analysts had expected $2.36 billion of revenue in the quarter. The
company said higher volumes and 3% higher pricing were more than
offset by 4% lower energy cost pass-through.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
November 07, 2019 06:30 ET (11:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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