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Air Products Q2 Profit Down - Quick Facts

Air Products & Chemicals Inc. (APD: Quote) reported that its second-quarter net income attributable to the company decreased to $296.0 million or $1.38 per share, from $304.3 million or $1.39 per share in the same quarter last year.

The company reported net income of $281 million and earnings per share of $1.31 on a non-GAAP, continuing operations basis, for its fiscal second quarter ended March 31, 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $1.33 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter declined to $2.34 billion from $2.40 billion in the prior year quarter. Eleven analysts had consensus revenue estimate of $2.43 billion for the quarter.

Air Products expects third quarter adjusted earnings from continuing operations to be between $1.40 and $1.45 per share. Analysts expect the company to report earnings of $1.51 per share for the third-quarter.

For fiscal 2012, the company now expects GAAP earnings per share to be in the range of $5.26 to $5.39, and adjusted earnings from continuing operations of $5.47 to $5.60 per share. Analysts expect the company to report earnings of $5.75 per share for fiscal 2012.

While announcing the first-quarter results, the company expected earnings to be in the range of $5.90 to $6.30 per share.

by RTT Staff Writer

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