Air Products Sees Higher Earnings In Q1, FY23 - Update

(RTTNews) - While reporting weak earnings and higher sales in its fourth quarter, Industrial gases company Air Products And Chemicals Inc. (APD) on Thursday said it sees higher earnings in its first quarter and fiscal 2023.

For the first quarter of fiscal 2023, Air Products expects adjusted earnings per share in the range of $2.60 to $2.80, up 5 percent to 13 percent over the prior year.

On average, 10 analysts polled by Thomson Reuters expected earnings of $2.71 per share for the quarter. Analysts' estimates typically exclude special items.

Further, Air Products now expects fiscal 2023 adjusted earnings per share of $11.20 to $11.50, up 9 to 12 percent over the prior year.

Analysts estimate earnings of $10.28 per share for the year.

The company expects capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.