×

Air Products and Chemicals posts 1Q profit

Gerald Burkart prepares to fill an Air Products & Chemicals bus with hydrogen fuel outside the Air Products headquarters in Allentown, Pennsylvania.
Bradley C. Bower | Bloomberg | Getty Images
Gerald Burkart prepares to fill an Air Products & Chemicals bus with hydrogen fuel outside the Air Products headquarters in Allentown, Pennsylvania.

Air Products and Chemicals on Thursday reported fiscal first-quarter earnings of $324.6 million.

The Allentown, Pennsylvania-based company said it had profit of $1.50 per share. Earnings, adjusted for one-time gains and costs, came to $1.55 per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The seller of gases for industrial, medical and other uses posted revenue of $2.56 billion in the period, which missed Street forecasts. Analysts expected $2.68 billion, according to Zacks.

For the current quarter ending in March, Air Products and Chemicals expects its per-share earnings to range from $1.50 to $1.55. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.53.

The company expects full-year earnings in the range of $6.35 to $6.55 per share.

Air Products and Chemicals shares have declined roughly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased almost 3 percent. The stock has climbed 29 percent in the last 12 months.

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 http://www.zacks.com/ap/APD.