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Air Products (APD) Misses Q1 Earnings & Sales Estimates

Air Products and Chemicals Inc.APD makes industrial gases as well as a variety of polymer and performance chemicals. It also supplies processing equipment. The company serves technology, energy, industrial and health care customers globally.

Air Products benefits from a diverse customer base, sustained pricing power and cost-reduction measures. However, Air Products' industrial gases business in the EMEA is seeing pressure from a weak operating environment. The company is also exposed to currency headwinds.

Let's have a quick look at the company's first-quarter fiscal 2017 release.

Estimate Trend & Surprise History

Investors should note that the earnings estimate for Air Products for the fiscal first-quarter has been static over the last month. Air Products has beaten estimates in all of the last four quarters with an average positive surprise of 1.84%.

Earnings

Air Products logged adjusted earnings of $1.47 per share for the fiscal first-quarter, up 9% year over year. But it missed the Zacks Consensus Estimate of $1.48.

Air Products and Chemicals, Inc. Price and EPS Surprise

Air Products and Chemicals, Inc. Price and EPS Surprise | Air Products and Chemicals, Inc. Quote

Revenues

Air Products posted net sales of $1.88 billion for the quarter, up 1% year over year. It also missed the Zacks Consensus Estimate of $1.96 billion.

Key Stats/Developments to Note

For the second quarter of fiscal 2017, Air Products expects adjusted EPS from continuing operations of $1.30 to $1.40. Air Products expects adjusted earnings for fiscal 2017 to be in the range of $6.00 to $6.25 per share, up 9% year over year at the midpoint.

Zacks Rank

Currently, Air Products has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.

Market Reaction

Air Products' shares lost 3.2% in pre-market trading .

Check back later for our full write up on Air Products' earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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