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Thursday, July 26, 2018

=Air Products (APD) reported earnings on Thur 26 July 2018 (b/o)

Air Products beats by $0.11, misses on revs; guides Q4 EPS below consensus 
  • Reports Q3 (Jun) earnings of $1.95 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus of $1.84; revenues rose 6.5% year/year to $2.26 bln vs the $2.31 bln Capital IQ Consensus.
    • Industrial Gases -- Americas sales of $949 million increased two percent over prior year, with six percent higher volumes partially offset by four percent lower energy cost pass-through.
    • Industrial Gases -- EMEA sales of $561 million increased 24 percent over prior year.
    • Industrial Gases -- Asia sales of $624 million increased 16 percent over prior year.
  • Co issues downside guidance for Q4, sees EPS of $1.95-2.00, excluding non-recurring items, vs. $2.02 Capital IQ Consensus Estimate.
    • The capital expenditure forecast for fiscal year 2018 now is expected to be in the range of $1.8 to $2.0 billion on a GAAP and non-GAAP basis.

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