Air Products & Chemicals
The 10-second takeaway
For the quarter ended Sep. 30 (Q4), Air Products & Chemicals beat expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Margins shrank across the board.
Air Products & Chemicals booked revenue of $2.61 billion. The 13 analysts polled by S&P Capital IQ hoped for a top line of $2.51 billion on the same basis. GAAP reported sales were 0.2% lower than the prior-year quarter's $2.61 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.42. The 17 earnings estimates compiled by S&P Capital IQ predicted $1.43 per share. GAAP EPS of $0.65 for Q4 were 57% lower than the prior-year quarter's $1.51 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 26.2%, 60 basis points worse than the prior-year quarter. Operating margin was 15.7%, 60 basis points worse than the prior-year quarter. Net margin was 5.3%, 710 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.50 billion. On the bottom line, the average EPS estimate is $1.29.
Next year's average estimate for revenue is $10.56 billion. The average EPS estimate is $5.70.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 676 members out of 695 rating the stock outperform, and 19 members rating it underperform. Among 165 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 160 give Air Products & Chemicals a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Air Products & Chemicals is outperform, with an average price target of $95.12.
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