Air Products & Chemicals Inc. (NYSE:APD) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Air Products & Chemicals Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 3.55% to $1.36 in the quarter versus EPS of $1.41 in the year-earlier quarter.
Revenue: Rose 8.85% to $2.55 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Air Products & Chemicals Inc. reported adjusted EPS income of $1.36 per share. By that measure, the company missed the mean analyst estimate of $1.36. It beat the average revenue estimate of $2.53 billion.
Quoting Management: Commenting on the third quarter, John McGlade, chairman, president and chief executive officer, said, “Productivity and solid execution offset continued economic weakness, enabling us to deliver earnings within guidance. We remain focused on delivering on our commitments and executing on our $3 billion backlog―and we expect these projects to be immediately accretive to earnings and cash flow as they come online. As stated previously, we are actively assessing additional actions that we can take that would result in increased value to our shareholders. While our review continues, we have already identified further actions we expect to take to improve margins and returns.”
Key Stats (on next page)…
Revenue increased 2.54% from $2.48 billion in the previous quarter. EPS decreased 0.73% from $1.37 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.53 to a profit $1.47. For the current year, the average estimate has moved down from a profit of $5.64 to a profit of $5.5 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)