ALLENTOWN, Pa. (AP) \u2014 ALLENTOWN, Pa. (AP) \u2014 Air Products and Chemicals Inc. (APD) on Thursday reported fiscal fourth-quarter net\u2026<\/p>\n
ALLENTOWN, Pa. (AP) \u2014 ALLENTOWN, Pa. (AP) \u2014 Air Products and Chemicals Inc. (APD) on Thursday reported fiscal fourth-quarter net income of $4.9 million.<\/p>\n
On a per-share basis, the Allentown, Pennsylvania-based company said it had net income of 2 cents. Earnings, adjusted for non-recurring costs, were $3.39 per share.<\/p>\n
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.41 per share.<\/p>\n
The seller of gases for industrial, medical and other uses posted revenue of $3.17 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $3.22 billion.<\/p>\n
For the year, the company reported a loss of $394.5 million, or $1.77 per share, swinging to a loss in the period. Revenue was reported as $12.04 billion.<\/p>\n
For the current quarter ending in December, Air Products and Chemicals expects its per-share earnings to range from $2.95 to $3.10.<\/p>\n
The company expects full-year earnings in the range of $12.85 to $13.15 per share.<\/p>\n
Air Products and Chemicals shares have dropped 18% since the beginning of the year, while the S&P\u2019s 500 index has risen 16%. The stock has dropped 22% in the last 12 months.<\/p>\n
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This story was generated by Automated Insights<\/a> (http:\/\/automatedinsights.com\/ap) using data from Zacks Investment Research. Access a Zacks stock report on APD<\/a> at https:\/\/www.zacks.com\/ap\/APD<\/p>\n Copyright
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