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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Air Products and Chemicals Inc | NYSE:APD | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 2.18 | 0.89% | 245.87 | 247.39 | 244.08 | 244.23 | 1,558,859 | 01:00:00 |
From May 2022 to May 2024
By Dean Seal
Air Products & Chemicals Inc. said higher prices and volumes lifted net income in its fiscal first quarter, though sales and adjusted earnings fell short of analyst expectations.
The Allentown, Pa.-based provider of essential industrial gases and chemicals posted a profit of $572.2 million, or $2.57 a share, compared with $560.4 million, or $2.52 a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were $2.64 a share. Analysts polled by FactSet had been expecting $2.70 a share.
Sales came in at $3.17 billion, up from $2.99 billion last year but below analyst expectations of $3.28 billion, according to FactSet.
Prices were up 7% for the quarter and volumes were up 2%, though unfavorable foreign-currency fluctuations and higher costs ate into the company's top and bottom lines.
Shares slipped 2.1% to $311.32 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 02, 2023 06:40 ET (11:40 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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