WASHINGTON (dpa-AFX) - Industrial gases company Air Products And Chemicals Inc. (APD) reported Thursday higher fourth-quarter profit and revenues. The company also issued outlook for first quarter and fiscal 2027, expecting higher adjusted earnings for the year.
Looking ahead for the first quarter, the company projects adjusted earnings per share of $3.35 to $3.45.
For fiscal 2027, adjusted earnings per share are expected to be between $14.15 and $14.50, higher than $13.45 recorded in fiscal 2026.
Fiscal 2027 capital expenditures is projected to be in the range of $3.0 billion to $3.5 billion.
In the fourth quarter, the company's earnings totaled $584.3 million or $2.62 per share, significantly higher than $4.9 million or $0.02 per share last year.
The results reflected the impact of project exits, primarily related to two China coal gasification plants.
Adjusted earnings were $804.8 million or $3.61 per share for the period, compared to $3.39 last year.
Adjusted operating income was $856 million, up 5 percent from last year, on higher volumes and pricing actions, partially offset by higher costs.
Adjusted operating margin of 24.1 percent decreased 150 basis points, primarily due to higher costs.
The company's revenue for the period rose 12.3% to $3.555 billion from $3.166 billion last year on 9 percent higher volumes and 1 percent each from higher pricing, higher energy cost pass-through, and favorable currency.
Americas sales of $1.6 billion increased 27 percent year-over-year, on 26 percent higher volumes and one percent higher pricing.
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