Air Products and Chemicals Profit Rises

Date : 11/07/2019 @ 11:45AM
Source : Dow Jones News
Stock : Air Products and Chemicals Inc (APD)
Quote : 243.71  6.42 (2.71%) @ 7:50PM

Air Products and Chemicals Profit Rises

Air Products and Chemicals (NYSE:APD)
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3 Months : From Oct 2019 to Jan 2020

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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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