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 Europe and Latin America is seeing pressure due to sluggish economic conditions. The company is also exposed to currency headwinds. Additionally, the company's long-term debt also remains considerably high.
Let's have a quick look at the company's fourth-quarter fiscal 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Air Products for the fiscal fourth-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 1.86%.
AIR PRODS & CHE Price and EPS Surprise
Air Products logged adjusted earnings of $2.01 per share for the fiscal fourth-quarter, up 10% year over year, topping the Zacks Consensus Estimate of $1.99.
Air Products posted net sales of $2,463 million for the quarter, up 1% year over year, missing the Zacks Consensus Estimate of $2,481 million.
Key Stats/Developments to Note
Excluding Electronic Materials and Performance Materials businesses, Air Products expects adjusted earnings from continuing operations for first-quarter fiscal 2017 to be in the range of $1.40 to $1.50 per share, up 3%−10% from comparable prior year results. The company expects adjusted earnings for fiscal 2017 to be in the band of $6.25 to $6.50 per share, up 9%−13% from comparable prior year results.
Excluding Electronic Materials and including Performance Materials, Air Products sees first-quarter fiscal 2017 adjusted earnings from continuing operations in the band of $1.60 to $1.70 per share, up 7%-13% year over year. The company expects adjusted earnings for fiscal 2017 to be in the range of $7.10 to $7.35 per share, up 9%-13% year over year.
Currently, Air Products has a Zacks Rank #5 (Strong Sell), but that could change following its earnings report which was just released.
Air Products' shares were inactive in pre-market trading . It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Air Products' earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.