ADVFN - Advanced Financial Network.
HOME» NYSE » A » APD Stock Price » APD Stock News

Air Products Share News

 Air Products & Chemicals, Inc. Stock Price
APD Stock Price
 Air Products & Chemicals, Inc. Stock Chart
APD Stock Chart
 Air Products & Chemicals, Inc. Stock News
APD Stock News
 Air Products & Chemicals, Inc. Company Information
APD Company Information
 Air Products & Chemicals, Inc. Stock Trades
APD Stock Trades

Air Products 2Q Profit Up 21% On Higher Volumes; Outlook Raised

DOW JONES NEWSWIRES Air Products & Chemicals Inc.'s (APD) fiscal second-quarter profit jumped 21% on higher sales volumes in its major segments and increased revenue from Asia. The results beat expectations. The industrial-gas maker also raised its current fiscal-year earnings outlook by 5 cents over its most recent February forecast to $5.65 to $5.75 a share. For the current quarter, Air Products projected a per-share profit between $1.42 and $1.47, bracketing the $1.45 estimate from analysts polled by Thomson Reuters. Air Products has posted expectation-beating results of late as its merchant gases business, its largest by revenue, grows on booming sales in Asia. Rising raw materials costs have forced the company to hike prices, but it still managed to raise its quarterly dividend 18% last month in a bid to return value to shareholders after the company's bruising attempt to take over rival Airgas Inc. (ARG). For the quarter ended March 31, Air Products reported a profit of $304.3 million, or $1.39 a share, up from $252 million, or $1.16 a share, a year earlier. The latest results included 2 cents a share in after-tax charges related to the failed Airgas bid. The company in January had predicted earnings of $1.36 to $1.40. Revenue rose 11% to $2.5 billion, ahead of Wall Street expectations of $2.43 billion. Operating margin widened to 16.8% from 15.1%. Sales in Air Products' merchant gases business rose 10% on higher volumes, especially in Asia. The company's tonnage gases segment, which sells hydrogen, synthesis gas and carbon monoxide to refineries and other large manufacturers, reported a 5.6% revenue increase. Sales in the electronics and performance materials segment surged 28% on higher volumes and pricing. Shares closed Wednesday at $93.72 and were inactive premarket. The stock has gained 22% over the past 12 months. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Air Products (APD)
DateTimeHeadline
05/25/201616:17:14Current Report Filing (8-k)
05/25/201614:34:43Statement of Changes in Beneficial Ownership (4)
05/25/201613:01:29Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
05/24/201615:13:35Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
05/24/201606:09:32Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
05/23/201617:28:38Current Report Filing (8-k)
05/20/201609:17:36Securities Registration: Employee Benefit Plan (s-8)
05/19/201612:15:00Air Products Declares Quarterly Dividend
05/18/201614:15:00Air Products and NSPE Team Up to Commercialize Their First Hydrogen...
05/17/201610:00:00Air Products Launches Hydrogen Services Business to Support Customer-owned...
05/11/201611:52:00Air Products Will Feature Gases and Technologies to Help Steelmakers...
05/10/201613:30:00Air Products' CEO to Speak at Goldman Sachs Basic Materials Conference...
05/07/201603:04:00Evonik to Acquire Air Products Unit -- WSJ
05/06/201609:55:00Evonik to Pay $3.8 Billion for Air Products' Performance-Materials...
05/06/201609:00:00Evonik to Pay $3.8 Billion for Air Product's Materials Unit
05/06/201608:55:00Evonik to Pay $3.8 Billion for Air Product's Performance Materials...
05/06/201608:03:43Current Report Filing (8-k)
05/06/201607:31:00Air Products to Sell Performance Materials Division of its Materials...
05/04/201614:30:00Air Products' Versum Materials™ to Showcase InuMax Advanced R...
04/28/201615:14:00Air Products to Showcase High Performing Coupling Agents for...

Air Products & Chemicals and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad