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 CET

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; kristin.jones@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
01/18 AIR PRODUCTS & CHEMICALS : Firms & Funds Reinforcing Their Perception of Air Pro..
01/18 AIR PRODUCTS & CHEMICALS : EULAV Asset Management Has $2,255,000 Position in Air..
01/12 AIR PRODUCTS & CHEMICALS : Patent Issued for Cleaning Formulations (USPTO 953673..
01/10 YINGDE GASES : Air Products and Chemicals Plans to Take over Yingde Gases
01/10 AIR PRODUCTS & CHEMICALS : Seifi Ghasemi, Chairman, President and Chief Executiv..
01/10 Air Products to acquire industrial gas maker
01/09 AIR PRODUCTS & CHEMICALS : 09 January 2017 Seifi Ghasemi, Chairman, President an..
01/09 AIR PRODUCTS : to Expand Nitrogen Capacity in Korea's Pyeongtaek City to Support..
01/09 AIR PRODUCTS AND CHEMICALS, INC. (NY : APD) Files An 8-K Completion of Acquisiti..
01/09 Air Products Confirms Delivery of Preliminary, Non-Binding Indication of Inte..
More news
Sector news : Commodity Chemicals - NEC
05:06pDJPPG INDUSTRIES : Names New Finance Chief, Posts Higher Profit
01/18DJLYONDELLBASELL INDUSTRIES : Files 8K - Changes Executive Management
01/18 European shares retreat as Pearson plummets
01/17 Oil majors, car makers to push hydrogen technology to help cut emissions
01/13DJLINDE : German Regulator Examines Possible Insider Trading at Linde
More sector news : Commodity Chemicals - NEC
News from SeekingAlpha
01/18 AIR PRODUCTS AND CHEMICALS : Time To Look Again At The Basic Materials Sector
01/09 Air Products makes offer for China?s top industrial gas maker
01/09 Trinseo Has Great Potential In 2017
01/05 MY K.I.S.S. DIVIDEND PORTFOLIO : 4th Quarter 2016 Update
01/03 Air Products divests Performance Materials Division
Financials ($)
Sales 2017 7 943 M
EBIT 2017 1 857 M
Net income 2017 1 738 M
Debt 2017 2 053 M
Yield 2017 2,39%
P/E ratio 2017 22,99
P/E ratio 2018 20,86
EV / Sales 2017 4,26x
EV / Sales 2018 4,07x
Capitalization 31 817 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 152 $
Spread / Average Target 3,7%
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 LIQUIDE-3.08%42 375
PRAXAIR, INC.-0.50%33 276
More Results