ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — Air Products and Chemicals Inc. (APD) on Thursday reported fiscal fourth-quarter net income of $584.3 million.
On a per-share basis, the Allentown, Pennsylvania-based company said it had net income of $2.62. Earnings, adjusted for non-recurring costs, came to $3.61 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.60 per share.
The seller of gases for industrial, medical and other uses posted revenue of $3.56 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $3.32 billion.
For the year, the company reported net income of $532.1 million, or $2.39 per share, swinging to a profit in the period. Revenue was reported as $12.99 billion.
For the current quarter ending in December, Air Products and Chemicals expects its per-share earnings to range from $3.35 to $3.45.
The company expects full-year earnings in the range of $14.15 to $14.50 per share.
Air Products and Chemicals shares have climbed 29% since the beginning of the year, while the S&P’s 500 index has increased 12%. The stock has climbed 32% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APD at https://www.zacks.com/ap/APD
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
