Air Products & Chemicals Revenue and Profit Rise
October 27 2016 - 09:34AM
Dow Jones News
By Austen Hufford
Air Products & Chemicals Inc. (APD) said revenue and profit
rose in its latest quarter.
In October, Air Products spun-off its electronic-materials
division as Versum Materials Inc. In May, Evonik Industries AG
agreed to buy the performance-materials division of Air Products
for $3.8 billion.
Excluding electronic-materials and performance-materials
divisions, Air Products said it expects 2017 adjusted earnings per
share of $6.25 to $6.50 and first quarter adjusted earnings per
share of $1.40 to $1.50.
In all for the quarter, Air Products earned $394 million, or
$1.84 cents a share, up from $344.5 million, or $1.58, a year
earlier. On an adjusted basis, earnings per share rose to $2.01
from $1.83.
Revenue grew 0.6% to $2.46 billion.
Analysts polled by Thomson Reuters had expected profit of $1.98
on revenue of $2.45 billion.
Shares of Air Products fell 2.99% in premarket trading.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
October 27, 2016 09:19 ET (13:19 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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