ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — Air Products and Chemicals Inc. (APD) on Tuesday reported fiscal fourth-quarter net income of $692.6 million.
The Allentown, Pennsylvania-based company said it had net income of $3.11 per share. Earnings, adjusted for one-time gains and costs, came to $3.15 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.11 per share.
The seller of gases for industrial, medical and other uses posted revenue of $3.19 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $3.31 billion.
For the year, the company reported profit of $2.3 billion, or $10.33 per share. Revenue was reported as $12.6 billion.
For the current quarter ending in December, Air Products and Chemicals expects its per-share earnings to range from $2.90 to $3.05. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.77.
The company expects full-year earnings in the range of $12.80 to $13.10 per share.
Air Products and Chemicals shares have dropped 5.5% since the beginning of the year, while the S&P's 500 index has risen 14%. The stock has increased 5.5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APD at https://www.zacks.com/ap/APD