Air Products and Chemicals (NYSE:APD)
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3 Months : From Oct 2019 to Jan 2020
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.
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(END) Dow Jones Newswires
November 07, 2019 06:30 ET (11:30 GMT)
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