ALLENTOWN, Pa. (AP) 鈥� ALLENTOWN, Pa. (AP) 鈥� Air Products and Chemicals Inc. (APD) on Thursday reported fiscal second-quarter net income of $710.4 million, after reporting a loss in the same period a year earlier.
The Allentown, Pennsylvania-based company said it had profit of $3.19 per share. Earnings, adjusted for non-recurring costs, came to $3.20 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.05 per share.
The seller of gases for industrial, medical and other uses posted revenue of $3.17 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $3.04 billion.
For the current quarter ending in June, Air Products and Chemicals expects its per-share earnings to range from $3.25 to $3.35.
The company expects full-year earnings in the range of $13 to $13.25 per share.
Air Products and Chemicals shares have climbed 22% since the beginning of the year, while the S&P’s 500 index has climbed 4%. The stock has increased 12% in the last 12 months.
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