Air Products and Chemicals Inc. (APD) on Thursday reported fiscal third-quarter net income of USD582.1 million, said the company.
The Allentown, Pennsylvania-based company said it had net income of USD2.62 per share. The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of USD2.61 per share.
The seller of gases for industrial, medical and other uses posted revenue of USD3.19 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected USD3.06 billion. For the current quarter ending in September, Air Products and Chemicals expects its per-share earnings to range from USD2.68 to USD2.88. Analysts surveyed by Zacks had forecast adjusted earnings per share of USD2.74.
The company expects full-year earnings in the range of USD10.20 to USD10.40 per share. Air Products and Chemicals shares have fallen 19% since the beginning of the year, while the S&P's 500 index has decreased 13%. The stock has dropped 15% in the last 12 months.
As per MRC, Air Liquide invested and will operate its first biomethane production unit in China by the end of 2022. Located in Huai’an City, in the Jiangsu Province, the unit will have a production capacity of 75 GWh per year. This project demonstrates a circular economy and low-carbon approach, in line with the Group’s Sustainable Objectives and strategic plan, ADVANCE.
mrchub.com