WASHINGTON (dpa-AFX) - (adds outlook)
Air Products And Chemicals Inc. (APD) revealed earnings for its third quarter that increased from the same period last year and beat the Street estimates.
The company's earnings totaled $582.1 million, or $2.62 per share. This compares with $533.6 million, or $2.40 per share, in last year's third quarter.
Excluding items, Air Products And Chemicals reported adjusted earnings of $582.1 million or $2.62 per share for the period.
Analysts on average had expected the company to earn $2.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 22.7% to $3.19 billion from $2.60 billion last year.
Air Products expects fourth-quarter adjusted earnings per share between $2.68 and $2.88, up 7 percent to 15 percent over fiscal 2021.
Further, the company has maintained fiscal 2022 adjusted earnings per share guidance of $10.20 to $10.40, up 14 percent at midpoint, over prior year.
Analysts estimate earnings of $2.75 per share for the quarter and $10.28 per share for the year.
Air Products expects capital expenditures of over $4.5 billion for full-year fiscal 2022.
Air Products And Chemicals Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $582.1 Mln. vs. $533.6 Mln. last year. -EPS (Q3): $2.62 vs. $2.40 last year. -Analyst Estimate: $2.61 -Revenue (Q3): $3.19 Bln vs. $2.60 Bln last year.
-Guidance: Next quarter EPS guidance: $2.68 to $2.88 Full year EPS guidance: $10.20 to $10.40
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