Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Air Products & Chemicals, Inc.    APD

News SummaryMost relevantAll newsSector newsTweets 

Air Products & Chemicals, Inc. : Air Products 2Q Net Falls 2.7% On Lower-Than-Expected Volumes

share with twitter share with LinkedIn share with facebook
share via e-mail
04/24/2012 | 12:49pm CEST

Air Products & Chemicals Inc.'s (APD) fiscal second-quarter earnings fell 2.7% as the industrial gas company saw lower-than-expected volumes in its core businesses, despite improved pricing.

Chief Executive John McGlade said business activity didn't pick up as much as expected.

"With Europe in recession, we have taken actions to improve our business portfolio and cost positions," he added. The company said it cut 800 jobs, contributing to a cost reduction charge of $86.8 million for the quarter.

For the year, the company lowered its guidance, seeing $5.47 to $5.60 a share, down from its January outlook of $5.90 to $6.30 a share. McGlade said business activity was slower than expected going into the second half of the year, reducing both sales and earnings growth. Business is still expected to pick up during the second half, and into 2013, he said, with capital spending higher than expected.

For the current quarter, the company expects earnings between $1.40 and $1.45 a share, lower than estimates of analysts polled by Thomson Reuters, who recently predicted $1.51.

The specialty-gas and chemical maker had warned that global economic conditions would pressure second-quarter volumes and earnings, before growth in Asia and North America begins to pick up in the second half of the year.

The company in January agreed to sell its continental home-care business to Linde AG (LNEGY, LIN.XE) for EUR590 million as it looks to focus on its core gases business. The deal was recently approved by European regulators and is expected to close by the end of this month.

For the period ended March 31, Air Products reported a profit of $296 million, or $1.38 a share, down from $304.3 million, or $1.39 a share, a year earlier. Adjusted earnings were $1.39, down from $1.41. The company in January saw earnings between $1.37 to $1.43.

Revenue decreased 2.4% to $2.34 billion, below the expectations of analysts polled by Thomson Reuters, who saw $2.43 billion.

Gross margin narrowed to 26.8% from 27.2%.

Sales in the company's merchant gases segment fell roughly 3% to $884 million, with positive pricing offset by weaker volume across all regions. Air Products' tonnage gases segment, which provides gases to refineries and steelmaking industries, reported around 2% lower revenue. Sales in electronics and performance materials fell 2% on lower electronics volume, while equipment and energy sales fell 3%, due to lower project activity.

Shares of the company closed Monday at $88.73 and were inactive premarket. The stock is up 4.2% so far this year.

-By Kristin Jones; Dow Jones Newswires; 212-416-2208; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
06/22 AIR PRODUCTS & CHEMICALS : U.S. Patents Awarded to Inventors in Florida (June 22..
06/21 AIR PRODUCTS & CHEMICALS : House Natural Resources Subcommittee on Energy and Mi..
06/15 AIR PRODUCTS : Announces Joint Venture with Linde North America for a New Indust..
06/09 Air Products Invests in Six Industrial Gas Plants to Support Booming Electron..
06/08 AIR PRODUCTS & CHEMICALS : U.S. Patents Awarded to Inventors in New York (June 8..
06/08 AIR PRODUCTS : Discusses New Technology for Continuous Dew Point Monitoring of S..
06/05 AIR PRODUCTS & CHEMICALS INC /DE/ : Results of Operations and Financial Conditio..
06/02 AIR PRODUCTS : Invests in Six Industrial Gas Plants to Support Booming Electroni..
06/02 AIR PRODUCTS & CHEMICALS : in Hanover Township to close, leaving 75 out of work
06/01 AIR PRODUCTS & CHEMICALS : Supplies Integrated Oxy-fuel Solution to Chengdu Jin ..
More news
Sector news : Commodity Chemicals - NEC
06/13 LG Chem denies media report of $6.2 billion Volkswagen battery deal
06/07DJBayer Cuts Covestro Stake to 44.8% -- Update
06/07DJBayer Cuts Covestro Stake to 44.8%
06/07DJLOTTE CHEMICAL : Seeks Up to $1.4 Billion With Malaysia IPO of Petrochemical Uni..
06/06DJLYONDELLBASELL INDUSTRIES : Correction to LyondellBasell Flaring Article
More sector news : Commodity Chemicals - NEC
News from SeekingAlpha
06/19 PRAXAIR : Growth Through Industrial Gas
06/15 Air Products announces new JV
06/05 The 5 Dividend Champions That Have Increased Dividends Over 10% This Year
06/03 S&P 500 'Safer' Dividend Aristocrats Look Up To Nucor's Net Gains, Per Analys..
Financials ($)
Sales 2017 7 970 M
EBIT 2017 1 749 M
Net income 2017 972 M
Debt 2017 1 479 M
Yield 2017 2,56%
P/E ratio 2017 22,74
P/E ratio 2018 21,27
EV / Sales 2017 4,13x
EV / Sales 2018 3,96x
Capitalization 31 407 M
More Financials
Duration : Period :
Air Products & Chemicals,  Technical Analysis Chart | APD | US0091581068 | 4-Traders
Full-screen chart
Technical analysis trends AIR PRODUCTS & CH...
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 154 $
Spread / Average Target 6,4%
Consensus details
EPS Revisions
More Estimates Revisions
Seifollah Ghasemi Chairman, President & Chief Executive Officer
Michael Scott Crocco Chief Financial Officer & Executive Vice President
Alyssa A. Budraitis Chief Information Officer & Vice President
Margaret G. McGlynn Independent Director
Chadwick C. Deaton Lead Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AIR LIQUIDE6.58%48 500
SHIN-ETSU CHEMICAL CO ..11.18%39 058
PRAXAIR, INC.13.37%37 801
More Results