ALLENTOWN, Pa. (AP) Air Products and Chemicals Inc. (APD) on Thursday reported fiscal fourth-quarter profit of $468.7 million.
The Allentown, Pennsylvania-based company said it had profit of $2.13 per share. Earnings, adjusted for non-recurring gains, were $1.76 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.
The seller of gases for industrial, medical and other uses posted revenue of $2.2 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $2.09 billion.
For the year, the company reported profit of $3 billion, or $13.65 per share. Revenue was reported as $8.19 billion.
For the current quarter ending in January, Air Products and Chemicals expects its per-share earnings to range from $1.60 to $1.70. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.66.
The company expects full-year earnings in the range of $6.85 to $7.05 per share.
Air Products and Chemicals shares have increased 7.5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 14 percent. The stock has increased 16 percent in the last 12 months.
