Air Products & Chemicals Beats Analyst Estimates on EPS
Air Products & Chemicals (NYS: APD) reported earnings on April 24. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q2), Air Products & Chemicals missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped.
Gross margins contracted, operating margins dropped, and net margins improved.
Air Products & Chemicals tallied revenue of $2.34 billion. The 13 analysts polled by S&P Capital IQ predicted revenue of $2.45 billion on the same basis. GAAP reported sales were 6.3% lower than the prior-year quarter's $2.50 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.39. The 17 earnings estimates compiled by S&P Capital IQ predicted $1.35 per share on the same basis. GAAP EPS of $1.38 for Q2 were 0.7% lower than the prior-year quarter's $1.39 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 26.8%, 110 basis points worse than the prior-year quarter. Operating margin was 12.3%, 440 basis points worse than the prior-year quarter. Net margin was 12.6%, 40 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.58 billion. On the bottom line, the average EPS estimate is $1.53.
Next year's average estimate for revenue is $10.11 billion. The average EPS estimate is $5.82.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 656 members out of 678 rating the stock outperform, and 22 members rating it underperform. Among 176 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 173 give Air Products & Chemicals a green thumbs-up, and three 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 $100.88.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.