Air Products And Chemicals Inc. Q1 Profit Increases, but misses estimates

(RTTNews) - Air Products And Chemicals Inc. (APD) announced earnings for its first quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $609.3 million, or $2.73 per share. This compares with $572.2 million, or $2.57 per share, in last year's first quarter.

Excluding items, Air Products And Chemicals Inc. reported adjusted earnings of $628.0 million or $2.82 per share for the period.

Analysts on average had expected the company to earn $3.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.4% to $3.00 billion from $3.17 billion last year.

Air Products And Chemicals Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $609.3 Mln. vs. $572.2 Mln. last year. -EPS (Q1): $2.73 vs. $2.57 last year. -Analyst Estimate: $3.00 -Revenue (Q1): $3.00 Bln vs. $3.17 Bln last year.

-Guidance: Next quarter EPS guidance: $2.60 to $2.75 Full year EPS guidance: $12.20 to $12.50